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Dec 31, 2024
Waters Q4 2024 Earnings Report
Key Takeaways
Waters Corporation reported Q4 2024 sales of $873 million, reflecting a 6% increase year-over-year. GAAP EPS was $3.88, while non-GAAP EPS rose to $4.10, up 13%. Operating income stood at $292.26 million, and net income reached $231.40 million. Pharmaceutical market sales grew 10% in constant currency, with overall recurring revenue up 9%.
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 expects full-year 2025 sales growth of 2.5%-5.0% as reported, with a constant currency growth of 4.5%-7.0%. Non-GAAP EPS is projected between $12.70-$13.00.
Positive Outlook
- Full-year sales growth expected to be positive despite currency headwinds.
- Strong pharmaceutical segment growth continues.
- Recurring revenue remains a key driver of stability.
- Operational efficiency improvements driving margin expansion.
- New product adoption supporting revenue acceleration.
Challenges Ahead
- Foreign exchange headwinds expected to reduce growth by 2%.
- Industrial market growth remains relatively slow.
- Potential macroeconomic challenges affecting customer spending.
- Uncertainty in global regulatory environments.
- Increased competition in analytical instruments sector.
Revenue & Expenses
Visualization of income flow from segment revenue to net income