Scientific instruments company Waters Corporation (NYSE: WAT) will be reporting results this Tuesday before the bell. Here’s what to expect.
Waters Corporation beat analysts’ revenue expectations last quarter, reporting revenues of $1.27 billion, up 91.5% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ organic revenue estimates and revenue guidance for next quarter exceeding analysts’ expectations.
Is Waters Corporation a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Waters Corporation’s revenue to grow 111% year on year, improving from the 8.9% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Waters Corporation has a history of exceeding Wall Street’s expectations.
Looking at Waters Corporation’s peers in the research tools & consumables segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Avantor posted flat year-on-year revenue, beating analysts’ expectations by 4.9%, and Thermo Fisher reported revenues up 10.5%, topping estimates by 2.4%. Avantor traded up 11.6% following the results while Thermo Fisher was also up 7.9%.
Read our full analysis of Avantor’s results here and Thermo Fisher’s results here.
Investors in the research tools & consumables segment have had steady hands going into earnings, with share prices flat over the last month. Waters Corporation’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $413.26 (compared to the current share price of $377.31).
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