Scientific instruments company Waters Corporation (NYSE: WAT) will be reporting earnings this Tuesday before market hours. Here’s what you need to know.
Waters Corporation beat analysts’ revenue expectations by 3.3% last quarter, reporting revenues of $771.3 million, up 8.9% year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts’ revenue estimates but a slight miss of analysts’ EPS guidance for next quarter estimates.
Is Waters Corporation a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Waters Corporation’s revenue to grow 5.6% year on year to $781.4 million, improving from the 4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.21 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Waters Corporation has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 1.3% on average.
Looking at Waters Corporation’s peers in the research tools & consumables segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Thermo Fisher delivered year-on-year revenue growth of 4.9%, beating analysts’ expectations by 1.9%, and Revvity reported revenues up 2.2%, in line with consensus estimates. Thermo Fisher traded up 2.6% following the results while Revvity was down 2.4%.
Read our full analysis of Thermo Fisher’s results here and Revvity’s results here.
Investors in the research tools & consumables segment have had steady hands going into earnings, with share prices flat over the last month. Waters Corporation is up 6.7% during the same time and is heading into earnings with an average analyst price target of $355.74 (compared to the current share price of $349.60).
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