NYSE$WAT

Waters Corporation · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

Waters Q4 2019 financial results were announced.

Waters Corporation reported Q4 2019 sales of $716 million, which were flat as reported compared to Q4 2018. GAAP EPS increased to $3.12, while non-GAAP EPS increased to $3.20.

  • Sales of $716 million were flat as reported and grew 1% in constant currency.
  • Strong recurring revenue, partially offset by a decline in instrument sales.
  • Growth in Europe and India, somewhat offset by softness in other geographies.
  • GAAP EPS of $3.12; non-GAAP EPS of $3.20 increased 11% from prior year.

Headline financials

Total Revenue

$716M

Previous: $715M+0.2%
EPS (adj)

$3.20

Previous: $2.87+11.5%
Pharma Market Sales

-$1.00

Previous: $0.00
Industrial Market Sales

-$1.00

Previous: -$1.00+0.0%
Academic & Gov Sales

$8.00

Previous: $2.00+300.0%
Net Income

$201M

Previous: $185M+8.4%
Operating Income

$236M

Previous: $245M-3.3%
Gross Profit

$417M

Previous: $428M-2.6%
Cash & Equivalents

$336M

Previous: $796M-57.8%
Total Assets

$2.56B

Previous: $3.73B-31.4%
Stock-Based Comp

$9.66M

Previous: $9.36M+3.2%

Revenue & EPS history

Waters · Revenue · Quarterly

$716M

Q4 2019+0.2%vs Q4 2018
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Revenue by segment

Waters · $716M total across 2 segments · Q4 2019

  • Waters
    $634M
  • TA
    $82M

Forward guidance

The Company expects full-year 2020 constant-currency sales growth in the range of 1% to 3%. The Company also expects full-year 2020 non-GAAP EPS in the range of $9.15 to $9.40.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2019

Historical avgQ4 2019

+0.2%

Avg return

Earnings day

+0.0%

Avg return

5 days after

+0.8%

Avg return

30 days after

60%

44 / 73 earnings

Positive

+19.9%

Q3 2024

Best reaction

-13.9%

Q4 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+1.1%+17.7%+22.9%
Q4 2025-13.9%-15.2%-22.0%
Q3 2025+6.6%+7.6%+14.7%
Q2 2025-1.6%-3.1%-0.1%
Q1 2025-2.7%-1.2%-0.6%
Q4 2024-5.8%-8.8%-6.9%
Q3 2024+19.9%+19.7%+19.1%
Q2 2024+7.6%+0.4%+5.7%
Q1 2024+1.2%+9.8%-6.0%
Q4 2023-0.4%-0.6%+11.1%
Q3 2023+1.5%+1.5%+16.4%
Q2 2023+6.2%+5.6%+2.4%
Q1 2023-8.1%-8.6%-15.7%
Q4 2022-3.5%-3.1%-11.9%
Q3 2022-1.1%+2.0%+16.0%
Q2 2022-7.3%-7.6%-17.8%
Q1 2022+13.3%+8.4%+10.1%
Q4 2021+3.1%+1.8%+0.4%
Q3 2021-4.7%-5.9%-8.4%
Q2 2021+1.4%+1.7%+8.3%
Q1 2021+3.1%+6.0%+6.5%
Q4 2020+4.6%+5.5%-2.7%
Q3 2020+2.0%+1.1%+2.9%
Q2 2020-4.8%-6.3%-5.1%
Q1 2020-1.2%-8.7%+1.5%
Q4 2019-2.3%-3.8%-12.0%
Q3 2019-2.3%-2.3%+1.6%
Q2 2019-3.9%-4.4%-3.8%
Q1 2019-13.9%-11.1%-14.9%
Q4 2018+9.8%+12.3%+15.6%
Q3 2018-5.7%-1.8%+5.2%
Q2 2018+0.1%-0.6%-4.5%
Q1 2018-8.6%-9.1%-7.4%
Q4 2017-0.2%+1.6%-4.8%
Q3 2017+1.5%+6.5%+4.8%
Q2 2017-6.7%-5.9%-2.2%
Q1 2017+6.7%+6.0%+11.4%
Q4 2016-0.8%-0.6%+6.6%
Q3 2016-12.9%-11.4%-12.3%
Q2 2016+6.0%+7.1%+6.5%
Q1 2016-3.1%
Q4 2015-5.0%
Q3 2015+4.1%
Q2 2015+2.7%
Q1 2015+2.8%
Q4 2014+4.3%
Q3 2014+7.1%
Q2 2014+3.4%
Q1 2014-9.0%
Q4 2013+5.7%
Q3 2013-4.1%
Q2 2013-4.8%
Q1 2013+3.6%
Q4 2012+2.8%
Q3 2012+0.7%
Q2 2012+2.1%
Q1 2012+0.3%
Q4 2011+1.0%
Q3 2011-0.3%
Q2 2011-7.2%
Q1 2011+2.2%
Q4 2010+1.8%
Q3 2010+0.6%
Q2 2010+0.7%
Q1 2009+2.3%
Q1 2010+0.2%
Q4 2007+3.0%
Q4 2009+3.0%
Q3 2009+2.6%
Q3 2008+2.6%
Q2 2008+1.9%
Q4 2008+1.9%
Q2 2009+1.9%

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