Waters Boosts FY23 Outlook - Update

(RTTNews) - While reporting financial results for the first quarter on Tuesday, specialty measurement company Waters Corp. (WAT) raised its adjusted earnings and sales growth outlook for the full-year 2023 and provided guidance for the second quarter.

For fiscal 2023, the company now projects adjusted earnings in a range of $12.55 to $12.75 per share on sales growth in a range of 5.5 to 7.5 percent, with organic constant currency sales growth of 3 to 5 percent.

Previously, the company expected adjusted earnings in the range of $11.75 to $12.00 per share on constant currency sales growth in a range of 5 to 7 percent.

On average, 18 analysts polled by Thomson Reuters expect the company to report earnings of $12.70 per share on sales growth of 7.50 percent to $3.20 billion for the year. Analysts' estimates typically exclude special items.

For the second quarter, the company expects adjusted earnings in a range of $2.52 to $2.62 per share on sales growth in the range of 1.5 to 3.5 percent, with organic constant currency sales growth of 1 to 3 percent.

The Street expects the company to report earnings of $2.88 per share on a sales growth of 6.7 percent to $762.25 million for the quarter.

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