WATERS CORPORATION Reports Record Revenue for Q2 of 2023 at $740.6 Million
August 16, 2023
🌥️Earnings Overview
WATERS CORPORATION ($NYSE:WAT) reported total revenue of USD 740.6 million for the second quarter of its fiscal year 2023, which was a 3.7% increase from the same period the previous year. However, net income for the quarter ending June 30 2023 decreased by 8.7%, amounting to USD 150.6 million.
Stock Price
On Wednesday, WATERS CORPORATION stock opened at $282.0 and closed at $291.8, rise by 6.3% from last closing price of 274.4. This was due to the announcement by the company that they had achieved record revenue of $740.6 million in the second quarter of 2023. The revenue for WATERS CORPORATION was an impressive increase of 4% from the same period last year and was driven by strong demand for their products in both developed and emerging markets. This increase in revenue has resulted in the stock price rising to new heights, indicating a positive outlook for the company. The WATERS CORPORATION has also experienced a surge in its customer base due to the introduction of latest products and services, as well as improved customer service and support.
This has helped them increase their profitability and overall performance. Overall, WATERS CORPORATION’s record revenue for the second quarter of 2023 is a testament to their success as a business and their commitment to delivering quality products and services. The increasing stock price indicates that investors are optimistic about the company’s future and confident about its growth potential. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Waters Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 2.99k | 674.54 | 22.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Waters Corporation. More…
| Operations | Investing | Financing |
| 571.67 | -1.47k | 799.51 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Waters Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.55k | 3.78k | 13.05 |
Key Ratios Snapshot
Some of the financial key ratios for Waters Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.5% | 10.4% | 29.0% |
| FCF Margin | ROE | ROA |
| 12.9% | 79.2% | 11.9% |
Analysis
At GoodWhale, we provide financial analysis and research for corporations. We’re here to help you evaluate WATERS CORPORATION‘s financials. After analyzing their financials, our risk rating shows that it is a medium risk investment. In addition to our financial analysis, we also detect non-financial risks from balance sheets. We have detected two risk warnings in the balance sheet of WATERS CORPORATION. If you would like to learn more about these warnings, please register with us and we’ll provide you the details. More…
Peers
Waters Corporation is an American analytical instrument manufacturing company that specializes in liquid chromatography, mass spectrometry, and thermal analysis instruments. It has annual sales of over $2 billion and employs more than 6,000 people worldwide. Its products are used in the life sciences, pharmaceutical, and chemical industries. Waters Corporation’s main competitors are IQVIA Holdings Inc, Agilent Technologies Inc, Vijaya Diagnostic Centre Ltd.
– IQVIA Holdings Inc ($NYSE:IQV)
The company’s market cap as of 2022 was 39.27B and its ROE was 21.52%. The company is a global provider of information, innovative technology solutions, and real-world insights that help customers improve their well-being. The company offers a broad range of products and services that enable customers to manage their health and wellbeing.
– Agilent Technologies Inc ($NYSE:A)
Agilent Technologies, Inc. is a provider of life sciences, diagnostics, and applied chemical markets solutions. It operates through three segments: Life Sciences and Applied Markets Group, Diagnostics and Genomics Group, and Agilent CrossLab Group. The Life Sciences and Applied Markets Group segment offers application solutions that include chromatography, mass spectrometry, chemical analysis, and cellular analysis. The Diagnostics and Genomics Group segment provides in vitro diagnostic products and services. The Agilent CrossLab Group segment offers a range of services and consumables. Agilent Technologies was founded in 1999 and is headquartered in Santa Clara, California.
– Vijaya Diagnostic Centre Ltd ($BSE:543350)
Vijaya Diagnostic Centre Ltd is a leading diagnostic centre in India with a market cap of 46.61B as of 2022. The company has a return on equity of 17.7%. The company offers a wide range of diagnostic services including X-rays, ultrasounds, MRI, and CT scans. The company also has a wide network of centres across India.
Summary
WATERS CORPORATION reported total revenue of USD 740.6 million for the second quarter of its fiscal year 2023, representing a 3.7% increase compared to the same period in the prior year. Net income for the quarter, ending June 30 2023, was USD 150.6 million, an 8.7% decrease year over year. Investors may take the news of higher revenue and lower net income as an opportunity to invest in WATERS CORPORATION.
The stock price moved up on the day of the announcement, indicating investor sentiment that the company is still performing well despite lower net income. With a potentially growing revenue stream and a favorable stock price, WATERS CORPORATION may be a good investment opportunity in the near term.
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