Waters Corporation announced strong financial results for the third quarter of 2024 on November 1, 2024, with sales reaching $740 million, a 4% increase as reported compared to the third quarter of 2023. Diluted GAAP earnings per share (EPS) for the quarter was $2.71, while non-GAAP EPS stood at $2.93, surpassing Wall Street estimates.
The company reported that instrument system sales increased by 1% as reported and in constant currency, with recurring revenues from service and precision chemistries growing 6% as reported and 7% in constant currency. Sales into the pharmaceutical market increased 2% as reported and 3% in constant currency, while the industrial market saw a 9% reported increase and 7% in constant currency.
Building on this performance, Waters raised its full-year 2024 organic constant currency sales growth guidance to a range of -0.9% to -0.3% and increased its non-GAAP EPS guidance to $11.67 to $11.87. For the fourth quarter of 2024, the company expects constant currency sales growth between 5.0% and 7.0%, with non-GAAP EPS projected to be in the range of $3.90 to $4.10.
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