Waters
The 10-second takeaway
For the quarter ended June 30 (Q2), Waters missed slightly on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue grew slightly and GAAP earnings per share grew slightly.
Gross margins dropped, operating margins grew, net margins dropped.
Revenue details
Waters logged revenue of $451.5 million. The 17 analysts polled by S&P Capital IQ looked for a top line of $458.7 million on the same basis. GAAP reported sales were 0.9% higher than the prior-year quarter's $447.6 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at $1.17. The 19 earnings estimates compiled by S&P Capital IQ predicted $1.17 per share. GAAP EPS of $1.09 for Q2 were 1.9% higher than the prior-year quarter's $1.07 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 60.3%, 40 basis points worse than the prior-year quarter. Operating margin was 27.3%, 40 basis points better than the prior-year quarter. Net margin was 21.6%, 80 basis points worse than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $450.5 million. On the bottom line, the average EPS estimate is $1.18.
Next year's average estimate for revenue is $1.85 billion. The average EPS estimate is $4.93.
Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 313 members out of 328 rating the stock outperform, and 15 members rating it underperform. Among 96 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 94 give Waters a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Waters is outperform, with an average price target of $92.06.
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