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Compared to Estimates, Waters (WAT) Q1 Earnings: A Look at Key Metrics

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Waters (WAT - Free Report) reported $636.84 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 7%. EPS of $2.21 for the same period compares to $2.49 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $634.35 million, representing a surprise of +0.39%. The company delivered an EPS surprise of +5.24%, with the consensus EPS estimate being $2.10.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Waters performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net Sales- Water Division: $561.90 million compared to the $551.13 million average estimate based on two analysts. The reported number represents a change of -6.7% year over year.
  • Net Sales- TA Division: $74.94 million versus the two-analyst average estimate of $71.02 million. The reported number represents a year-over-year change of -9.3%.
  • Net Sales- Markets- Pharmaceutical: $374.21 million versus $364.73 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -2.8% change.
  • Net Sales- Markets- Industrial: $195.33 million versus the two-analyst average estimate of $195.66 million. The reported number represents a year-over-year change of -6.8%.
  • Net Sales- Markets- Academic & Government: $67.30 million versus the two-analyst average estimate of $72.51 million. The reported number represents a year-over-year change of -25.3%.
  • Net Sales- Service net sales- TA service: $24.26 million versus the two-analyst average estimate of $23.93 million. The reported number represents a year-over-year change of +1.6%.
  • Net Sales- Service sales: $260.69 million versus the two-analyst average estimate of $240.95 million. The reported number represents a year-over-year change of +5%.
  • Net Sales- Product Net Sales- Waters instrument systems: $191.26 million versus the two-analyst average estimate of $206.29 million. The reported number represents a year-over-year change of -21.7%.
  • Net Sales- Product Net Sales- Chemistry consumables: $134.21 million compared to the $127.81 million average estimate based on two analysts. The reported number represents a change of +0.5% year over year.
  • Net Sales- Product Net Sales- TA instrument systems: $50.69 million versus the two-analyst average estimate of $47.10 million. The reported number represents a year-over-year change of -13.7%.
  • Net Sales- Service net sales- Waters service: $236.43 million versus $217.03 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +5.4% change.
  • Net Sales- Product sales: $376.15 million versus $381.19 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -13.8% change.
View all Key Company Metrics for Waters here>>>

Shares of Waters have returned -5.7% over the past month versus the Zacks S&P 500 composite's -0.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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