Waters Slashes FY19 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the first quarter, Waters Corp. (WAT) on Tuesday slashed its adjusted earnings and constant currency sales growth outlook for the full-year 2019 and initiated guidance for the second quarter.

For fiscal 2019, the company slashed its adjusted earnings guidance to a range of $9.05 to $9.25 per share from the prior range of $9.20 to $9.45 per share.

The company also now projects full-year 2019 constant currency sales growth in the range of 2 to 4 percent, down from the prior growth range of 4 to 6 percent. Currency translation currently is expected to decrease full-year sales growth by 1 to 2 percentage points.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $9.34 per share on sales growth of 3.70 percent to $2.51 billion for the year. Analysts' estimates typically exclude special items.

For the second quarter, the company expects adjusted earnings in a range of $2.05 to $2.15 per share on constant currency sales growth in the range of 2 to 4 percent. Currency translation is currently expected to decrease second quarter sales growth by 1 to 2 percentage points. Analysts expect the company to report earnings of $2.21 per share on sales growth of 2.60 percent to $611.49 million for the quarter.