Waters: 2Q Earnings Snapshot
MILFORD, Mass. (AP) _ Waters Corp. (WAT) on Tuesday reported second-quarter earnings of $144.4 million.
The Milford, Massachusetts-based company said it had profit of $2.08 per share. Earnings, adjusted for restructuring costs and amortization costs, came to $2.14 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.11 per share.
The maker of products used in drug discovery and development posted revenue of $599.2 million in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $602.3 million.
For the current quarter ending in October, Waters expects its per-share earnings to range from $2.05 to $2.15. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.25.
The company expects full-year earnings in the range of $8.95 to $9.10 per share.
Waters shares have risen 16% since the beginning of the year, while the Standard & Poor’s 500 index has increased 21%. The stock has risen 12% in the last 12 months.