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- Waters Corp WAT reported first-quarter FY21 net sales growth of 31% year-on-year to $608.5 million, beating analyst consensus of $525.29 million.
- Net sales from Waters and TA segments rose 31% to $541.9 million and $66.7 million, respectively.
- Instruments, Service, Chemistry, and Total Recurring net sales rose 49%, 19%, 22%, and 20%, respectively.
- Net sales to Asia, Americas, and Europe rose 44%, 15%, and 36%, respectively.
- China's net sales rose 118%.
- Net sales to Pharmaceutical, Industrial, and Academic & Government markets rose 32%, 28%, and 33%, respectively.
- Non-GAAP EPS of $2.29 beat the analyst consensus of $1.57.
- The company generated $218 million in operating cash flow, and it held $809.8 million in cash and equivalents.
- Guidance: It sees Q2 constant-currency sales growth of 14% to 16%, non-GAAP EPS of $2.15 to $2.25, higher than the analyst consensus of $2.11.
- Price action: WAT shares traded higher by 1.53% at $304.34 in the premarket session on the last check Wednesday.
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