Waters (WAT - Free Report) is scheduled to report its third-quarter 2023 results on Nov 7.
For the third quarter, the company anticipates net sales to decline 4-2% on a constant-currency basis. The Zacks Consensus Estimate for net sales is pegged at $724.83 million, indicating growth of 2.3% from the year-ago quarter’s reported figure.
WAT expects non-GAAP earnings between $2.50 and $2.60 per share. The Zacks Consensus Estimate for the same is pegged at $2.56 per share, suggesting a decline of 3.03% from the year-ago quarter’s reported figure. The estimate has been revised downward by 0.4% over the past 30 days.
Waters’ earnings beat estimates in three of the trailing four quarters while missing the same once, the average being 2.32%.
Let’s see how things have shaped up for this announcement.
Factors to Consider
Strong investments in liquid chromatography instruments, mass spectrometers and chemistries are anticipated to have contributed to the company’s performance in the large molecule market during the to-be-reported quarter.
Further, growing collaborations to integrate technologies, develop analytical solutions, and offer real-time monitoring of process controls and critical quality attributes in the bioreactor are likely to have aided its performance during the third quarter.
These factors are expected to have driven growth in the Waters segment during the third quarter. The Zacks Consensus Estimate for the company’s revenues is pegged at $634.58 million, indicating growth of 1.8% from the year-ago reported figure.
Further, increasing demand in Industrial, Academic & Government end markets, owing to Waters’ revitalized portfolio offerings, is likely to have aided its performance in the to-be-reported quarter.
The Zacks Consensus Estimate for third-quarter 2023 Industrial revenues is pegged at $227.9 million, indicating growth of 1.75% on a year-over-year basis.
The consensus estimate suggests Academic & Government revenues to climb 9.3% year over year to $85.97 million.
Moreover, the company’s strength in battery testing for electric vehicles, owing to new product launches, is likely to have benefited the TA segment’s performance. The consensus mark for TA revenues is pinned at $87.62 million, implying growth of 2.9% from the reported figure in the prior-year quarter.
However, macroeconomic uncertainties and restricted consumer spending are expected to have acted as headwinds for the company.
Moreover, foreign exchange fluctuations and supply-chain constraints are expected to have negatively affected WAT’s quarterly performance.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Waters has an Earnings ESP of -0.77% and a Zacks Rank #4 (Sell), currently. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a couple of stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming release:
NetEase (NTES - Free Report) has an Earnings ESP of +5.13% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
NetEase is set to announce third-quarter 2023 results on Nov 16. NTES shares have gained 54.7% year to date.
Upstart (UPST - Free Report) has an Earnings ESP of +9.09% and a Zacks Rank #2.
Upstart is set to announce third-quarter 2023 results on Nov 7. UPST shares have gained 127.5% year to date.
Clarivate (CLVT - Free Report) has an Earnings ESP of +5.56% and a Zacks Rank #3.
Clarivate is set to announce third-quarter 2023 results on Nov 7. CLVT shares have declined 16.1% year to date.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Waters (WAT - Free Report) is scheduled to report its third-quarter 2023 results on Nov 7.
For the third quarter, the company anticipates net sales to decline 4-2% on a constant-currency basis. The Zacks Consensus Estimate for net sales is pegged at $724.83 million, indicating growth of 2.3% from the year-ago quarter’s reported figure.
WAT expects non-GAAP earnings between $2.50 and $2.60 per share. The Zacks Consensus Estimate for the same is pegged at $2.56 per share, suggesting a decline of 3.03% from the year-ago quarter’s reported figure. The estimate has been revised downward by 0.4% over the past 30 days.
Waters’ earnings beat estimates in three of the trailing four quarters while missing the same once, the average being 2.32%.
Let’s see how things have shaped up for this announcement.
Factors to Consider
Strong investments in liquid chromatography instruments, mass spectrometers and chemistries are anticipated to have contributed to the company’s performance in the large molecule market during the to-be-reported quarter.
Further, growing collaborations to integrate technologies, develop analytical solutions, and offer real-time monitoring of process controls and critical quality attributes in the bioreactor are likely to have aided its performance during the third quarter.
These factors are expected to have driven growth in the Waters segment during the third quarter. The Zacks Consensus Estimate for the company’s revenues is pegged at $634.58 million, indicating growth of 1.8% from the year-ago reported figure.
Further, increasing demand in Industrial, Academic & Government end markets, owing to Waters’ revitalized portfolio offerings, is likely to have aided its performance in the to-be-reported quarter.
The Zacks Consensus Estimate for third-quarter 2023 Industrial revenues is pegged at $227.9 million, indicating growth of 1.75% on a year-over-year basis.
The consensus estimate suggests Academic & Government revenues to climb 9.3% year over year to $85.97 million.
Moreover, the company’s strength in battery testing for electric vehicles, owing to new product launches, is likely to have benefited the TA segment’s performance. The consensus mark for TA revenues is pinned at $87.62 million, implying growth of 2.9% from the reported figure in the prior-year quarter.
However, macroeconomic uncertainties and restricted consumer spending are expected to have acted as headwinds for the company.
Moreover, foreign exchange fluctuations and supply-chain constraints are expected to have negatively affected WAT’s quarterly performance.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Waters has an Earnings ESP of -0.77% and a Zacks Rank #4 (Sell), currently. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a couple of stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming release:
NetEase (NTES - Free Report) has an Earnings ESP of +5.13% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
NetEase is set to announce third-quarter 2023 results on Nov 16. NTES shares have gained 54.7% year to date.
Upstart (UPST - Free Report) has an Earnings ESP of +9.09% and a Zacks Rank #2.
Upstart is set to announce third-quarter 2023 results on Nov 7. UPST shares have gained 127.5% year to date.
Clarivate (CLVT - Free Report) has an Earnings ESP of +5.56% and a Zacks Rank #3.
Clarivate is set to announce third-quarter 2023 results on Nov 7. CLVT shares have declined 16.1% year to date.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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