finance.yahoo.com/news/...ion-nyse-wat-reports-110000672.html
Highlights
Fourth Quarter 2024
Sales of $873 million exceeded high-end of guidance range, grew 6% as reported and 8% in constant currency
Instruments grew 8% and recurring revenue grew 9% in constant currency, as growth accelerated across all three reported regions
Pharma grew 10% in constant currency, reflecting stronger-than-expected year-end spending dynamics and broad-based growth across the Americas, Europe, and Asia
GAAP EPS of $3.88; non-GAAP EPS of $4.10 grew 13% as strong operational performance and better-than-expected sales volume offset foreign exchange headwinds
Full-Year 2024
Sales exceeded guidance at $2,958 million, flat as reported and in organic constant currency
GAAP operating income margin of 27.9%; operational excellence drove adjusted operating income margin expansion to 31.0%, effectively neutralizing the challenges posed by foreign exchange headwinds
GAAP EPS of $10.71; non-GAAP EPS of $11.86 grew 1% versus 2023, which includes a 5% impact due to foreign exchange headwinds
Generated $762 million in operating cash flow; $744 million in free cash flow, representing 25% of full-year sales, and a free cash flow to adjusted net income ratio of 105%
MILFORD, Mass., Feb. 12, 2025 /PRNewswire/ -- Waters Corporation (NYSE: WAT) today announced its financial results for the fourth quarter and full-year 2024.
Sales for the fourth quarter of 2024 were $873 million, an increase of 6% as reported, compared to sales of $819 million for the fourth quarter of 2023. Currency translation decreased sales by 2%.
On a GAAP basis, diluted earnings per share (EPS) for the fourth quarter of 2024 was $3.88, compared to $3.65 for the fourth quarter of 2023. On a non-GAAP basis, EPS increased by 13% to $4.10, compared to $3.62 for the fourth quarter of 2023. This includes a decline of approximately 9% due to foreign exchange headwinds, which were 6% or $0.23 adverse to guidance.
"We delivered excellent results in the fourth quarter, led by double-digit growth in Pharma, while instruments and recurring revenue both grew high single-digits in constant currency," said Dr. Udit Batra, President & CEO, Waters Corporation. "Growth accelerated across all regions, driven by strong adoption of new products and the success of our strategic initiatives."