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Dec 31, 2022
Waters Q4 2022 Earnings Report
Waters' Q4 2022 financial performance was marked by sales growth and strategic portfolio expansion.
Key Takeaways
Waters Corporation reported a 3% increase in sales to $859 million for Q4 2022. The company's EPS increased to $3.81 on a GAAP basis and $3.84 on a non-GAAP basis. Waters also announced the acquisition of Wyatt Technology, signaling the next phase of its growth strategy.
Q4 sales reached $859 million, a 3% increase as reported and 9% in constant currency.
Instrument sales experienced double-digit growth, driving the quarter's performance.
Industrial market sales grew by mid-teens, with robust growth across all end markets.
The company announced the acquisition of Wyatt Technology to further its growth strategy.
Waters
Waters
Waters Revenue by Segment
Waters Revenue by Geographic Location
Revenue by Segment
Waters Instrument Systems Revenue
CapyFin.comTA Instrument Systems Revenue
CapyFin.comRevenue by Geographic Location
Asia Revenue
CapyFin.comAmericas Revenue
CapyFin.comEurope Revenue
CapyFin.com Forward Guidance
Waters Corporation anticipates full-year 2023 organic constant currency sales growth in the range of 5% to 6.5% and non-GAAP EPS in the range of $12.55 to $12.75.
Positive Outlook
- Full-year 2023 organic constant currency sales growth is expected in the range of 5% to 6.5%.
- The Wyatt transaction is expected to increase full-year reported sales growth by 2% to 3%.
- Full-year 2023 reported sales growth is expected in the range of 6% to 8.5%.
- The company expects full-year 2023 non-GAAP EPS in the range of $12.55 to $12.75.
- The Wyatt transaction is expected to become accretive to non-GAAP EPS starting in the first quarter of 2024.
Challenges Ahead
- Currency translation is expected to decrease full-year organic sales growth by approximately 1%.
- Full-year 2023 non-GAAP EPS includes an estimated headwind of approximately 3% due to unfavorable foreign exchange.
- The Wyatt transaction is expected to temporarily decrease full-year 2023 non-GAAP EPS by approximately 1%.
- First quarter 2023 constant currency sales growth is expected in the range of 4% to 6%.
- Currency translation is expected to decrease first quarter sales growth by approximately 4%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income