Waters Corp. (WAT) reported a decline in profit for the second quarter compared to the previous year; however, the results surpassed Wall Street predictions.
The company's earnings for the quarter were $142.737 million, or $2.40 per share, compared to $150.554 million, or $2.55 per share, in the same period last year.
Excluding special items, adjusted earnings were $156.398 million, or $2.63 per share, for the quarter.
Analysts surveyed by Thomson Reuters had on average anticipated earnings of $2.56 per share, not accounting for special items.
Revenue for the quarter decreased by 4.3% to $708.529 million, down from $740.576 million a year ago.
Key financial highlights (GAAP) for Waters Corp.:
- Earnings (Q2): $142.737 million vs. $150.554 million the prior year.
- EPS (Q2): $2.40 vs. $2.55 the prior year.
- Revenue (Q2): $708.529 million vs. $740.576 million the prior year.
**Guidance:**
- Earnings per share (EPS) for the next quarter are projected to range between $2.60 and $2.70.
- Full-year EPS is expected to be between $11.55 and $11.65.
