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Waters Slashes FY19 Outlook - Quick Facts

While reporting financial results for the third quarter on Tuesday, Waters Corp. (WAT) slashed its adjusted earnings and constant currency sales growth outlook for the full-year 2019 and initiated guidance for the fourth quarter.

For fiscal 2019, the company slashed its adjusted earnings guidance to a range of $8.73 to $8.83 per share from the prior range of $8.95 to $9.10 per share.

The company also now projects full-year 2019 constant currency sales growth of about 1 percent, down from the prior growth range of 1 to 3 percent. Currency translation currently is expected to decrease full-year sales growth by 1 to 2 percentage points.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $9.02 per share on sales growth of 0.80 percent to $2.44 billion for the year. Analysts' estimates typically exclude special items.

For the fourth quarter, the company expects adjusted earnings in a range of $2.95 to $3.05 per share on constant currency sales growth in the range of flat to 2 percent. Currency translation is currently expected to decrease quarterly sales growth by 1 percentage point.

Analysts expect the company to report earnings of $3.23 per share on sales of $734.41 million for the quarter.

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