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Waters (WAT) to Report Q1 Earnings: What's in the Offing?
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Waters Corporation (WAT - Free Report) is scheduled to report first-quarter 2023 results on May 9.
For the first quarter, Waters anticipates net sales growth of 4-6% on a constant-currency basis. The Zacks Consensus Estimate for net sales is pegged at $695.47 million, indicating a rise of 0.7% from the year-ago quarter’s reported figure.
WAT expects non-GAAP earnings between $2.55 and $2.65 per share. The Zacks Consensus Estimate for the same is pegged at $2.60 per share, suggesting a fall of 7.1% from the year-ago quarter’s reported figure.
Waters’ earnings beat estimates in all the trailing four quarters, the average being 7.7%.
Waters’ first-quarter performance is likely to have benefited from solid momentum across pharmaceutical, industrial, and academic and government end markets.
Strength in product portfolio is expected to have aided Waters’ first-quarter performance.
Strength in Arc HPLC and ACQUITY Premier instruments and MAX peak premier columns is expected to have consistently benefited its top line in the quarter under review.
During the first quarter, Waters launched the Alliance iS HPLC System for pharmaceutical quality control laboratories, reducing compliance risk and detecting and troubleshooting errors.
The company also released a cloud-based software application called waters_connect System Monitoring that enables real-time monitoring of chromatography instruments running on Waters Empower software. These product launches might have been a tailwind.
Further, strong demand in Xevo TQ Absolute and Xevo G3, WAT’s recent instruments, is expected to have benefited the top line in the underlying quarter.
This apart, continuous investments in liquid chromatography instruments, mass spectrometers and chemistries are likely to have contributed to the top line in the to-be-reported quarter.
Waters’ robust liquid chromatography-mass spectrometry solution, named BioAccord, is expected to have continued benefiting its quarterly performance.
Additionally, Waters’ large molecule applications are expected to have witnessed a strong adoption rate, which is likely to get reflected in the first-quarter results.
Waters is expected to have continued performing well in Asia, Europe and the Americas in the quarter under discussion.
However, supply-chain disruptions due to the ongoing coronavirus pandemic might get reflected in the upcoming quarterly results.
Increasing expenses, supply-chain constraints and inflationary pressure are expected to have affected WAT’s quarterly performance.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Waters this time around. 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, which is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Waters International has an Earnings ESP of 0.00% and a Zacks Rank #3 at present.
Stocks to Consider
Here are some stocks worth considering as our model shows that these have the right combination of elements to beat on earnings this season.
DOCN is scheduled to release first-quarter 2023 results on May 9. The Zacks Consensus Estimate for DOCN’s earnings is pegged at 29 cents per share, suggesting a jump from 7 cents per share reported in the prior-year quarter.
Agilent Technologies (A - Free Report) has an Earnings ESP of +0.40% and a Zacks Rank #2 at present.
Agilent Technologies is set to report second-quarter fiscal 2023 results on May 23. The Zacks Consensus Estimate for A’s earnings is pegged at $1.27 per share, suggesting an increase of 12.4% from the prior-year quarter’s reported figure.
Cisco Systems (CSCO - Free Report) has an Earnings ESP of +1.59% and a Zacks Rank #3 at present.
CSCO is scheduled to report third-quarter fiscal 2023 results on May 17. The Zacks Consensus Estimate for CSCO’s earnings is pegged at 97 cents per share, suggesting an increase of 11.5% from the prior-year quarter’s reported figure.
Image: Bigstock
Waters (WAT) to Report Q1 Earnings: What's in the Offing?
Waters Corporation (WAT - Free Report) is scheduled to report first-quarter 2023 results on May 9.
For the first quarter, Waters anticipates net sales growth of 4-6% on a constant-currency basis. The Zacks Consensus Estimate for net sales is pegged at $695.47 million, indicating a rise of 0.7% from the year-ago quarter’s reported figure.
WAT expects non-GAAP earnings between $2.55 and $2.65 per share. The Zacks Consensus Estimate for the same is pegged at $2.60 per share, suggesting a fall of 7.1% from the year-ago quarter’s reported figure.
Waters’ earnings beat estimates in all the trailing four quarters, the average being 7.7%.
Waters Corporation Price and EPS Surprise
Waters Corporation price-eps-surprise | Waters Corporation Quote
Key Factors to Note
Waters’ first-quarter performance is likely to have benefited from solid momentum across pharmaceutical, industrial, and academic and government end markets.
Strength in product portfolio is expected to have aided Waters’ first-quarter performance.
Strength in Arc HPLC and ACQUITY Premier instruments and MAX peak premier columns is expected to have consistently benefited its top line in the quarter under review.
During the first quarter, Waters launched the Alliance iS HPLC System for pharmaceutical quality control laboratories, reducing compliance risk and detecting and troubleshooting errors.
The company also released a cloud-based software application called waters_connect System Monitoring that enables real-time monitoring of chromatography instruments running on Waters Empower software. These product launches might have been a tailwind.
Further, strong demand in Xevo TQ Absolute and Xevo G3, WAT’s recent instruments, is expected to have benefited the top line in the underlying quarter.
This apart, continuous investments in liquid chromatography instruments, mass spectrometers and chemistries are likely to have contributed to the top line in the to-be-reported quarter.
Waters’ robust liquid chromatography-mass spectrometry solution, named BioAccord, is expected to have continued benefiting its quarterly performance.
Additionally, Waters’ large molecule applications are expected to have witnessed a strong adoption rate, which is likely to get reflected in the first-quarter results.
Waters is expected to have continued performing well in Asia, Europe and the Americas in the quarter under discussion.
However, supply-chain disruptions due to the ongoing coronavirus pandemic might get reflected in the upcoming quarterly results.
Increasing expenses, supply-chain constraints and inflationary pressure are expected to have affected WAT’s quarterly performance.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Waters this time around. 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, which is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Waters International has an Earnings ESP of 0.00% and a Zacks Rank #3 at present.
Stocks to Consider
Here are some stocks worth considering as our model shows that these have the right combination of elements to beat on earnings this season.
DigitalOcean (DOCN - Free Report) has an Earnings ESP of +3.45% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
DOCN is scheduled to release first-quarter 2023 results on May 9. The Zacks Consensus Estimate for DOCN’s earnings is pegged at 29 cents per share, suggesting a jump from 7 cents per share reported in the prior-year quarter.
Agilent Technologies (A - Free Report) has an Earnings ESP of +0.40% and a Zacks Rank #2 at present.
Agilent Technologies is set to report second-quarter fiscal 2023 results on May 23. The Zacks Consensus Estimate for A’s earnings is pegged at $1.27 per share, suggesting an increase of 12.4% from the prior-year quarter’s reported figure.
Cisco Systems (CSCO - Free Report) has an Earnings ESP of +1.59% and a Zacks Rank #3 at present.
CSCO is scheduled to report third-quarter fiscal 2023 results on May 17. The Zacks Consensus Estimate for CSCO’s earnings is pegged at 97 cents per share, suggesting an increase of 11.5% from the prior-year quarter’s reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.