•
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
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