Waters Corporation (NYSE: WAT) has announced its financial results for the first quarter of 2025, showcasing a solid performance that reflects the company's strategic initiatives and the resilience of its business model. The results indicate a positive trajectory for the company amid a challenging economic environment.

1. Q1 Financial Highlights

For the first quarter of 2025, Waters reported total sales of $662 million, marking a 4% increase compared to $637 million in Q1 2024. When adjusted for constant currency, sales growth stands at an impressive 7%. This growth demonstrates Waters' ability to navigate foreign exchange fluctuations and maintain competitive sales momentum.

Earnings Performance

On a GAAP basis, diluted earnings per share (EPS) for the first quarter reached $2.03, a significant rise from $1.72 reported in the same period last year. The non-GAAP EPS also showed resilience, coming in at $2.25, which reflects a 2% growth year-over-year. This growth was partly impacted by unfavorable foreign exchange conditions, which accounted for approximately five percentage points of the EPS variation.

2. Leadership Remarks

Dr. Udit Batra, President & CEO of Waters Corporation, expressed confidence in the company's performance, stating, "Thanks to the focus and dedication of our teams, the momentum in our business has remained strong despite a very dynamic external environment." Dr. Batra emphasized that the first-quarter results surpassed expectations, driven by double-digit instrument growth, particularly in the pharmaceutical sector, and the successful traction of Waters' innovative product portfolio.

Increased Full-Year Guidance

In light of the strong performance and operational resilience, Waters Corporation has raised its full-year 2025 guidance:

Constant Currency Sales Growth: Revised to +5.0% to +7.0%

Reported Sales Growth: Updated to +4.0% to +6.0%

Non-GAAP EPS Guidance: Adjusted to a range of $12.75 to $13.05, reflecting a year-over-year growth of approximately 8% to 10%.

3. Outlook for Q2 2025

Looking ahead, Waters has outlined its expectations for the second quarter of 2025:

Constant Currency Sales Growth: Anticipated to be in the range of +5.0% to +7.0%

Reported Sales Growth: Expected between +4.0% to +6.0%

Non-GAAP EPS: Projected to range from $2.88 to $2.98, indicating a year-over-year growth of approximately 10% to 13%.

These projections highlight Waters' consistent growth strategy and its ability to adapt to market changes, including recent tariff and policy adjustments.

4. Conference Call Details

Waters Corporation will host a conference call today, May 6, 2025, at 8:00 a.m. Eastern Time, to discuss its quarterly financial results in more detail. Interested parties can access the webcast on Waters' official website under the Investor Relations section, with a replay available until at least June 3, 2025.

5. About Waters Corporation

Waters Corporation has established itself as a global leader in analytical instruments and separations technologies, serving a variety of sectors including life sciences, materials, food, and environmental sciences. With over 65 years of experience and more than 7,600 dedicated employees worldwide, Waters is committed to advancing science and ensuring the quality and safety of essential products.

In summary, Waters Corporation's first-quarter results for 2025 reflect a robust performance supported by effective operational strategies and a strong market presence, reinforcing the company's optimistic outlook for the remainder of the year.

Original press release