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Dec 31, 2021
Waters Q4 2021 Earnings Report
Waters' Q4 2021 financial results were reported, with sales increasing by 6% and EPS increasing to $3.52.
Key Takeaways
Waters Corporation reported a 6% increase in sales to $836 million for Q4 2021 compared to $787 million in Q4 2020. GAAP EPS increased to $3.52 from $3.49, and non-GAAP EPS increased to $3.67 from $3.65. The company saw strong momentum in revenue growth, particularly in biopharma, industrial, and China.
Fourth quarter sales reached $836 million, reflecting a 6% increase as reported and an 8% increase in constant currency.
Instrument sales led the quarter with double-digit growth, showing increased momentum into year-end.
GAAP EPS for the fourth quarter increased to $3.52, while non-GAAP EPS rose to $3.67.
The company experienced broad-based growth across end markets and geographies, with notable strength in biopharma, industrial, and China.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company expects full-year 2022 constant currency sales growth in the range of 5% to 7%. The Company expects full-year 2022 non-GAAP EPS in the range of $11.75 to $12.00.
Positive Outlook
- Full-year 2022 constant currency sales growth in the range of 5% to 7%.
- Full-year 2022 non-GAAP EPS in the range of $11.75 to $12.00.
- First quarter 2022 constant currency sales growth in the range of 6% to 8%.
- First quarter 2022 non-GAAP EPS in the range of $2.25 to $2.35.
Challenges Ahead
- Currency translation is expected to decrease full-year sales growth by approximately one percentage point.
- Currency translation is expected to decrease first quarter sales growth by approximately three percentage points.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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