We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
For the second quarter, the company anticipates net sales to decline 6-4% on a constant-currency basis. It expects second-quarter 2024 reported sales to decline in the range of 6.5-4.5%.
The Zacks Consensus Estimate for net sales is pegged at $698 million, indicating a decline of 5.8% from the year-ago quarter’s reported figure.
WAT expects non-GAAP earnings between $2.50 and $2.60 per share. The Zacks Consensus Estimate for the same is pegged at $2.55 per share, suggesting a decline of 8.9% from the year-ago quarter’s reported figure. The estimate has decreased by 2.3% over the past 60 days.
Waters’ earnings beat estimates in all the trailing four quarters, the average being 6.5%.
Let’s see how things might have shaped up for this announcement.
Waters’ growing investments to introduce innovative products and enhance its revitalized portfolio for target markets are anticipated to have contributed well to its performance during the to-be-reported quarter.
Increasing operational management initiatives across pricing and productivity, and proactive cost alignment are likely to have acted as tailwinds.
Strong momentum across the Per-and Polyfluoroalkyl Substances (PFAS) and battery testing applications market, on the back of its newly launched products like Oasis dual-phase analysis cartridges, is likely to have benefited the company’s top line during the quarter under review.
Strength across the chemistry end market, owing to solid customer demand for large molecule workflows, is likely to have been a positive. Also, its increasing investments in liquid chromatography and mass spectrometry are likely to have been a plus.
However, weakness in the overall demand environment is expected to have been a major headwind for the company in the to-be-reported quarter.
Sluggishness across the pharma and academic, and government end markets due to weakening demand in China is expected to have been a negative.
The Zacks Consensus Estimate for second-quarter 2024 pharma revenues is pegged at $425.40 million, indicating a decline of 0.3% on a year-over-year basis.
The consensus mark for academic and government revenues stands at $75.21 million, indicating a fall of 10.7% year over year.
Decreasing demand for WAT’s core industrial applications is expected to have negatively impacted its performance across the industrial end market during the quarter under review.
The consensus mark for industrial revenues is pegged at $217.6 million, indicating a year-over-year decline of 5.3%.
Foreign exchange fluctuations and challenging macroeconomic scenarios are expected to have been other headwinds for the company.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Waters currently has an Earnings ESP of -0.57% and a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Aspen Aerogels is set to report its second-quarter 2024 results on Aug 7. The Zacks Consensus Estimate for ASPN’s earnings is pegged at 5 cents per share, indicating a significant jump from the prior-year quarter’s loss of 22 cents per share.
Apple (AAPL - Free Report) has an Earnings ESP of +3.23% and a Zacks Rank #2 at present.
Apple is scheduled to release third-quarter fiscal 2024 results on Aug 1. The Zacks Consensus Estimate for AAPL’s earnings is pegged at $1.33 per share, suggesting a jump of 5.6% from the prior-year quarter.
GoDaddy (GDDY - Free Report) has an Earnings ESP of +13.08% and a Zacks Rank #3 at present.
GoDaddy is set to report second-quarter 2024 results on Aug 1. The Zacks Consensus Estimate for GDDY’s earnings is pegged at $1.07 per share, indicating growth of 69.8% from the year-ago quarter’s reported figure.
Image: Bigstock
Waters (WAT) to Report Q2 Earnings: What's in the Offing?
Waters Corporation (WAT - Free Report) is scheduled to report its second-quarter 2024 results on Jul 31.
For the second quarter, the company anticipates net sales to decline 6-4% on a constant-currency basis. It expects second-quarter 2024 reported sales to decline in the range of 6.5-4.5%.
The Zacks Consensus Estimate for net sales is pegged at $698 million, indicating a decline of 5.8% from the year-ago quarter’s reported figure.
WAT expects non-GAAP earnings between $2.50 and $2.60 per share. The Zacks Consensus Estimate for the same is pegged at $2.55 per share, suggesting a decline of 8.9% from the year-ago quarter’s reported figure. The estimate has decreased by 2.3% over the past 60 days.
Waters’ earnings beat estimates in all the trailing four quarters, the average being 6.5%.
Let’s see how things might have shaped up for this announcement.
Waters Corporation Price and EPS Surprise
Waters Corporation price-eps-surprise | Waters Corporation Quote
Factors to Consider
Waters’ growing investments to introduce innovative products and enhance its revitalized portfolio for target markets are anticipated to have contributed well to its performance during the to-be-reported quarter.
Increasing operational management initiatives across pricing and productivity, and proactive cost alignment are likely to have acted as tailwinds.
Strong momentum across the Per-and Polyfluoroalkyl Substances (PFAS) and battery testing applications market, on the back of its newly launched products like Oasis dual-phase analysis cartridges, is likely to have benefited the company’s top line during the quarter under review.
Strength across the chemistry end market, owing to solid customer demand for large molecule workflows, is likely to have been a positive. Also, its increasing investments in liquid chromatography and mass spectrometry are likely to have been a plus.
However, weakness in the overall demand environment is expected to have been a major headwind for the company in the to-be-reported quarter.
Sluggishness across the pharma and academic, and government end markets due to weakening demand in China is expected to have been a negative.
The Zacks Consensus Estimate for second-quarter 2024 pharma revenues is pegged at $425.40 million, indicating a decline of 0.3% on a year-over-year basis.
The consensus mark for academic and government revenues stands at $75.21 million, indicating a fall of 10.7% year over year.
Decreasing demand for WAT’s core industrial applications is expected to have negatively impacted its performance across the industrial end market during the quarter under review.
The consensus mark for industrial revenues is pegged at $217.6 million, indicating a year-over-year decline of 5.3%.
Foreign exchange fluctuations and challenging macroeconomic scenarios are expected to have been other headwinds for the company.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Waters currently has an Earnings ESP of -0.57% and a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Aspen Aerogels (ASPN - Free Report) has an Earnings ESP of +23.53% and a Zacks Rank #1. You can see the complete list of today's Zacks #1 Rank stocks here.
Aspen Aerogels is set to report its second-quarter 2024 results on Aug 7. The Zacks Consensus Estimate for ASPN’s earnings is pegged at 5 cents per share, indicating a significant jump from the prior-year quarter’s loss of 22 cents per share.
Apple (AAPL - Free Report) has an Earnings ESP of +3.23% and a Zacks Rank #2 at present.
Apple is scheduled to release third-quarter fiscal 2024 results on Aug 1. The Zacks Consensus Estimate for AAPL’s earnings is pegged at $1.33 per share, suggesting a jump of 5.6% from the prior-year quarter.
GoDaddy (GDDY - Free Report) has an Earnings ESP of +13.08% and a Zacks Rank #3 at present.
GoDaddy is set to report second-quarter 2024 results on Aug 1. The Zacks Consensus Estimate for GDDY’s earnings is pegged at $1.07 per share, indicating growth of 69.8% from the year-ago quarter’s reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.