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For the first quarter, the company anticipates net sales to decline 11-9% on a constant-currency basis. It expects first-quarter 2024 reported sales to decline in the range of 8.5-6.5%.
The Zacks Consensus Estimate for net sales is pegged at $634.35 million, indicating a decline of 7.4% from the year-ago quarter’s reported figure.
WAT expects non-GAAP earnings between $2.05 and $2.15 per share. The Zacks Consensus Estimate for the same is pegged at $2.10 per share, suggesting a decline of 15.7% from the year-ago quarter’s reported figure. The estimate has increased by 0.5% over the past 30 days.
Waters’ earnings beat estimates in three of the trailing four quarters while missing the same once, the average being 4.13%.
Let’s see how things might have shaped up for this announcement.
Waters’ growing investments to introduce innovative products and enhance its revitalized portfolio for target markets are anticipated to have contributed to its performance during the to-be-reported quarter.
Strong momentum across the Per-and Polyfluoroalkyl Substances (PFAS) and battery testing applications market, on the back of its newly launched products like Xevo tQ Absolute, is likely to have benefited the company’s top-line during the quarter under review.
The company’s growing focus on enhancing bio-separations and bioanalytical characterizations of its large-molecule applications is expected to have strengthened its position in the large-molecule market. Also, its growing investments in liquid chromatography and mass spectrometry are likely to have been a positive.
Increasing analytical instruments’ demand for characterizing large molecules and novel modalities is likely to have aided WAT’s top line in the first quarter.
Growing momentum across the Americas and Europe is likely to have acted as a tailwind.
However, sluggishness in the overall spending environment is expected to have been a major headwind for the company in the to-be-reported quarter.
Softness in the TA segment, due to declining sales in China, is likely to have been a headwind.
The Zacks Consensus Estimate for first-quarter 2024 TA revenues is pegged at $71.02 million, indicating a fall of 14% on a year-over-year basis.
Sluggishness across the pharma and industrial end markets due to weakening demand in China is expected to have negatively impacted the top-line growth during the first quarter.
The Zacks Consensus Estimate for first-quarter 2024 pharma revenues is pegged at $364.73 million, indicating a decline of 5.2% on a year-over-year basis.
The consensus mark for industrial revenues stands at $195.66 million, indicating a fall of 6.7% year over year.
Foreign exchange fluctuations and challenging macroeconomic scenarios are expected to have been other headwinds for the company.
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 currently has an Earnings ESP of -0.54% and a Zacks Rank #2. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Arista Networks is set to report its first-quarter 2024 results on May 7. The Zacks Consensus Estimate for ANET’s earnings is pegged at $1.74 per share, suggesting a jump of 21.7% from the prior-year quarter.
NVIDIA (NVDA - Free Report) has an Earnings ESP of +2.50% and a Zacks Rank #2 at present.
NVIDIA is scheduled to release first-quarter fiscal 2025 results on May 22. The Zacks Consensus Estimate for ANET’s earnings is pegged at $5.49 per share, suggesting a significant jump from the prior-year quarter’s reported figure of $1.09 per share.
Docebo (DCBO - Free Report) has an Earnings ESP of +8.00% and a Zacks Rank #3 at present.
Docebo is set to report first-quarter 2024 results on May 9. The Zacks Consensus Estimate for DCBO’s earnings is pegged at 17 cents per share, indicating growth of 88.89% from the year-ago quarter’s reported figure.
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Waters (WAT) to Report Q1 Earnings: What's in the Offing?
Waters Corporation (WAT - Free Report) is scheduled to report its first-quarter 2024 results on May 7.
For the first quarter, the company anticipates net sales to decline 11-9% on a constant-currency basis. It expects first-quarter 2024 reported sales to decline in the range of 8.5-6.5%.
The Zacks Consensus Estimate for net sales is pegged at $634.35 million, indicating a decline of 7.4% from the year-ago quarter’s reported figure.
WAT expects non-GAAP earnings between $2.05 and $2.15 per share. The Zacks Consensus Estimate for the same is pegged at $2.10 per share, suggesting a decline of 15.7% from the year-ago quarter’s reported figure. The estimate has increased by 0.5% over the past 30 days.
Waters’ earnings beat estimates in three of the trailing four quarters while missing the same once, the average being 4.13%.
Let’s see how things might have shaped up for this announcement.
Waters Corporation Price and EPS Surprise
Waters Corporation price-eps-surprise | Waters Corporation Quote
Factors to Consider
Waters’ growing investments to introduce innovative products and enhance its revitalized portfolio for target markets are anticipated to have contributed to its performance during the to-be-reported quarter.
Strong momentum across the Per-and Polyfluoroalkyl Substances (PFAS) and battery testing applications market, on the back of its newly launched products like Xevo tQ Absolute, is likely to have benefited the company’s top-line during the quarter under review.
The company’s growing focus on enhancing bio-separations and bioanalytical characterizations of its large-molecule applications is expected to have strengthened its position in the large-molecule market. Also, its growing investments in liquid chromatography and mass spectrometry are likely to have been a positive.
Increasing analytical instruments’ demand for characterizing large molecules and novel modalities is likely to have aided WAT’s top line in the first quarter.
Growing momentum across the Americas and Europe is likely to have acted as a tailwind.
However, sluggishness in the overall spending environment is expected to have been a major headwind for the company in the to-be-reported quarter.
Softness in the TA segment, due to declining sales in China, is likely to have been a headwind.
The Zacks Consensus Estimate for first-quarter 2024 TA revenues is pegged at $71.02 million, indicating a fall of 14% on a year-over-year basis.
Sluggishness across the pharma and industrial end markets due to weakening demand in China is expected to have negatively impacted the top-line growth during the first quarter.
The Zacks Consensus Estimate for first-quarter 2024 pharma revenues is pegged at $364.73 million, indicating a decline of 5.2% on a year-over-year basis.
The consensus mark for industrial revenues stands at $195.66 million, indicating a fall of 6.7% year over year.
Foreign exchange fluctuations and challenging macroeconomic scenarios are expected to have been other headwinds for the company.
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 currently has an Earnings ESP of -0.54% and a Zacks Rank #2. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Arista Networks (ANET - Free Report) has an Earnings ESP of +3.76% and a Zacks Rank #2. You can see the complete list of today's Zacks #1 Rank stocks here.
Arista Networks is set to report its first-quarter 2024 results on May 7. The Zacks Consensus Estimate for ANET’s earnings is pegged at $1.74 per share, suggesting a jump of 21.7% from the prior-year quarter.
NVIDIA (NVDA - Free Report) has an Earnings ESP of +2.50% and a Zacks Rank #2 at present.
NVIDIA is scheduled to release first-quarter fiscal 2025 results on May 22. The Zacks Consensus Estimate for ANET’s earnings is pegged at $5.49 per share, suggesting a significant jump from the prior-year quarter’s reported figure of $1.09 per share.
Docebo (DCBO - Free Report) has an Earnings ESP of +8.00% and a Zacks Rank #3 at present.
Docebo is set to report first-quarter 2024 results on May 9. The Zacks Consensus Estimate for DCBO’s earnings is pegged at 17 cents per share, indicating growth of 88.89% from the year-ago quarter’s reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.