Waters Guides FY22 In Line; Q4 Results Top Estimates - Quick Facts

While reporting financial results for the fourth quarter on Tuesday, specialty measurement company Waters Corp. (WAT) initiated its adjusted earnings and constant currency sales growth outlook for the full-year 2022 and for the first quarter of fiscal 2022.

For fiscal 2022, the company now projects adjusted earnings to be in a range of $11.75 to $12.00 per share on constant currency sales growth in a range of 5 to 7 percent. Currency translation currently is expected to decrease full-year sales growth by about one percentage point.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $11.78 per share on sales growth of 5.50 percent to $2.92 billion for the year. Analysts' estimates typically exclude special items.

For the first quarter, the company expects adjusted earnings in a range of $2.25 to $2.35 per share on constant currency sales growth in the range of 6 to 8 percent. Currency translation is currently expected to decrease quarterly sales growth by about three percentage points.

The Street expects the company to report earnings of $2.38 per share on a sales growth of 3.0 percent to $627.08 million for the quarter.

For the fourth quarter, net earnings grew to $216.24 million or $3.52 per share from $218.31 million or $3.49 per share in the prior-year quarter.

Excluding items, adjusted earnings were $3.67 per share, compared to $3.65 per share in the year-ago quarter.

Sales for the quarter grew 6 percent to $836.45 million from $786.66 million in the same quarter last year. Sales grew 8 percent in constant currency.

Analysts were looking for earnings of $3.47 per share on sales of $821.04 million for the quarter.

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