Waters Guides FY22 In Line; Q4 Results Top Estimates - Quick Facts

(RTTNews) - While reporting financial results for the fourth quarter on Tuesday, specialty measurement company Waters Corp. (WAT) initiated its adjusted earnings and constant currency sales growth outlook for the full-year 2022 and for the first quarter of fiscal 2022.

For fiscal 2022, the company now projects adjusted earnings to be in a range of $11.75 to $12.00 per share on constant currency sales growth in a range of 5 to 7 percent. Currency translation currently is expected to decrease full-year sales growth by about one percentage point.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $11.78 per share on sales growth of 5.50 percent to $2.92 billion for the year. Analysts' estimates typically exclude special items.

For the first quarter, the company expects adjusted earnings in a range of $2.25 to $2.35 per share on constant currency sales growth in the range of 6 to 8 percent. Currency translation is currently expected to decrease quarterly sales growth by about three percentage points.

The Street expects the company to report earnings of $2.38 per share on a sales growth of 3.0 percent to $627.08 million for the quarter.

For the fourth quarter, net earnings grew to $216.24 million or $3.52 per share from $218.31 million or $3.49 per share in the prior-year quarter.

Excluding items, adjusted earnings were $3.67 per share, compared to $3.65 per share in the year-ago quarter.

Sales for the quarter grew 6 percent to $836.45 million from $786.66 million in the same quarter last year. Sales grew 8 percent in constant currency.

Analysts were looking for earnings of $3.47 per share on sales of $821.04 million for the quarter.