Waters Corporation (NYSE:WAT) reported upbeat second-quarter earnings, but lowered its FY24 outlook on Wednesday.
Waters reported quarterly earnings of $2.63 per share which beat the analyst consensus estimate of $2.56 per share. The company reported quarterly sales of $708.529 million which beat the analyst consensus estimate of $700.079 million.
“Our team executed well to deliver second quarter results that exceeded both our top-line and bottom-line reported guidance,” said Dr. Udit Batra, President & CEO, Waters Corporation. “Our margins remained resilient, thanks to our disciplined approach to operational management, which offset headwinds from volume, currency, and inflation.”
Waters said it now sees FY24 adjusted earnings of $11.55 to $11.65 per share, versus earlier forecast of $11.75 to 12.05 per share. The company now expects sales growth outlook of -2.2% to -0.7%.
Waters shares gained 2.8% to trade at $345.82 on Thursday.
These analysts made changes to their price targets on Waters following earnings announcement.
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