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Milford, Massachusetts-based Waters Corporation (WAT - Free Report) is a prominent medical instrument supplying firm, conducting trade in the healthcare sector. The company is renowned analytical instrument producer but also builds up and supplies software-based products to its customers.
WAT’s global pharmaceuticals business, its largest single market and major revenue driver, is the company’s major profit churner fuelling its growth. The company’s solid market presence in both high-performance liquid chromatography market and mass spectrometry markets, strength in regulated testing, non-discretionary product demand are its staple growth drivers.
Also, the company’s robust product portfolio supplements its strength. Thriving life sciences and analytical instrument markets, accelerated drug approvals by the FDA and favorable funding environment bode well for the company’s future growth.
Despite the positives, Waters’ rising debt levels and the consequent interest expenses remain a burden, given its recent acquisitions. Also, increasing R&D expenses and volatility in client spending add to the company’s woes.
We have highlighted some of the key details from the just-released announcement below:
Earnings: Waters’ adjusted earnings from continuing operations came in at $1.95 per share, which beat the Zacks Consensus Estimate by three cents.
Sales: Sales of $596.22 million lagged the Zacks Consensus Estimate of $598.04 million but grew 7% on a year-over-year basis.
Key Stats: Recurring revenues, which represent the combination of service and precision chemistries revenues, increased 8% on a constant currency basis.
Stock Price: Shares prices did not show any movement in the pre-market trading session.
Check back later for our full write up on this WAT earnings report later!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
Image: Bigstock
Waters Corp (WAT) Earnings Beat Estimates in Q2
Milford, Massachusetts-based Waters Corporation (WAT - Free Report) is a prominent medical instrument supplying firm, conducting trade in the healthcare sector. The company is renowned analytical instrument producer but also builds up and supplies software-based products to its customers.
WAT’s global pharmaceuticals business, its largest single market and major revenue driver, is the company’s major profit churner fuelling its growth. The company’s solid market presence in both high-performance liquid chromatography market and mass spectrometry markets, strength in regulated testing, non-discretionary product demand are its staple growth drivers.
Also, the company’s robust product portfolio supplements its strength. Thriving life sciences and analytical instrument markets, accelerated drug approvals by the FDA and favorable funding environment bode well for the company’s future growth.
Despite the positives, Waters’ rising debt levels and the consequent interest expenses remain a burden, given its recent acquisitions. Also, increasing R&D expenses and volatility in client spending add to the company’s woes.
Zacks Rank: Currently, Waters has a Zacks Rank #3 (Hold) but that could change following its second-quarter 2018 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key details from the just-released announcement below:
Earnings: Waters’ adjusted earnings from continuing operations came in at $1.95 per share, which beat the Zacks Consensus Estimate by three cents.
Sales: Sales of $596.22 million lagged the Zacks Consensus Estimate of $598.04 million but grew 7% on a year-over-year basis.
Key Stats: Recurring revenues, which represent the combination of service and precision chemistries revenues, increased 8% on a constant currency basis.
Stock Price: Shares prices did not show any movement in the pre-market trading session.
Waters Corporation Price
Waters Corporation Price | Waters Corporation Quote
Check back later for our full write up on this WAT earnings report later!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>