Waters Q4 2023 Earnings Report
Key Takeaways
Waters Corporation reported Q4 2023 sales of $819 million, a 4.5% decrease as reported. However, the company's operational excellence led to gross margin and adjusted operating margin expansion. Non-GAAP EPS was $3.62, at the high end of guidance, while GAAP EPS was $3.65.
Sales declined by 4.5% as reported, totaling $819 million.
Gross margin expanded by 170 basis points due to operational excellence.
Adjusted operating margin increased by 120 basis points.
Non-GAAP EPS reached $3.62, aligning with the upper range of expectations; GAAP EPS was $3.65.
Waters
Waters
Waters Revenue by Segment
Waters Revenue by Geographic Location
Forward Guidance
The Company expects first quarter 2024 organic constant currency sales growth to be in the range of -11% to -9%. Currency translation is expected to decrease first quarter sales growth by approximately 1%. The Wyatt transaction is expected to increase first quarter reported sales growth by 3.5%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income