Waters Slashes FY19 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the second 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 third quarter.

For fiscal 2019, the company slashed its adjusted earnings guidance to a range of $8.95 to $9.10 per share from the prior range of $9.05 to $9.25 per share.

The company also now projects full-year 2019 constant currency sales growth in the range of 1 to 2 percent, down from the prior growth range of 2 to 4 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 $9.08 per share on sales growth of 1.90 percent to $2.64 billion for the year. Analysts' estimates typically exclude special items.

For the third 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 quarterly sales growth by 1 percentage point.

Analysts expect the company to report earnings of $2.21 per share on sales of $598.79 million for the quarter.