Core Insights - Waters Corporation reported first quarter 2025 sales of $662 million, a 4% increase from $637 million in the same quarter of 2024, and a 7% increase in constant currency [1][12] - The company achieved diluted earnings per share (EPS) of $2.03 on a GAAP basis and $2.25 on a non-GAAP basis, reflecting a year-over-year growth of 2% in non-GAAP EPS, despite a five percentage point negative impact from foreign exchange [2][12] - The company raised its full-year 2025 guidance for constant currency sales growth to a range of +5.0% to +7.0% and non-GAAP EPS guidance to $12.75 to $13.05, indicating an expected year-over-year growth of approximately +8% to +10% [4][5][12] Financial Performance - First quarter 2025 sales growth was driven by an 11% increase in instrument sales in constant currency, particularly strong in the pharmaceutical and industrial markets [3][12] - The company reported net income of $121.4 million for the first quarter, compared to $102.2 million in the same period last year [23] - Operating income for the first quarter was $151.7 million, up from $133.8 million in the prior year [23] Guidance and Outlook - For the second quarter of 2025, Waters Corporation expects constant currency sales growth in the range of +5.0% to +7.0% and reported sales growth of +4.0% to +6.0% [6] - The projected non-GAAP EPS for the second quarter is expected to be between $2.88 and $2.98, representing a year-over-year growth of approximately +10% to +13% [6][24] - The company’s operational actions and improvements in foreign exchange are expected to mitigate the impact of tariffs and policy changes [3][12]

Core Viewpoint - The cruise industry is facing mixed signals, with Carnival's performance uncertain compared to competitors Royal Caribbean and Norwegian Cruise Line Holdings [1][3][12] Group 1: Industry Performance - Royal Caribbean raised its guidance in its latest earnings report, while Norwegian reduced its guidance on net yield growth, indicating potential challenges in revenue generation [2] - Carnival holds a significant market share, with approximately 42% of all cruise passengers sailing on its ships, which positions it as an industry leader [7] - Cabin availability has been limited, with Carnival booking 103% of its capacity in the first quarter of fiscal 2025, allowing it to command higher prices [8] Group 2: Financial Health - Carnival has approximately $27 billion in total debt, a significant burden given its book value of $9.2 billion, which impacts its ability to service and pay down debt [4] - The company has made progress in debt reduction, paying off over $3 billion in fiscal 2024 and another $500 million in the first quarter, indicating it can manage current debt without refinancing [10] - In the fiscal first quarter, Carnival reported revenue of $5.8 billion, a 7% increase year-over-year, despite a quarterly loss of $78 million, suggesting that the loss may be temporary [9] Group 3: Future Outlook - Carnival plans to launch new ships, Festivale in 2027 and Tropicale in 2028, which could enhance its revenue if demand remains strong [5] - The company may need to slow its expansion if economic conditions force it to lower prices to attract customers, but it has demonstrated resilience in maintaining market leadership and expanding its fleet [13] - The stock has increased by around 20% over the last year but has fallen about 35% since late January, resulting in a price-to-earnings ratio of 12, the lowest since returning to profitability [11]

Core Insights - Analysts expect Waters (WAT) to report quarterly earnings of $2.22 per share, reflecting a year-over-year increase of 0.5% [1] - Projected revenues for the quarter are $654.63 million, which is a 2.8% increase from the previous year [1] - The consensus EPS estimate has been revised 0.2% higher in the last 30 days, indicating a collective reevaluation by analysts [1][2] Revenue Estimates - 'Net Sales- Water Division' is expected to reach $578.15 million, indicating a year-over-year change of +2.9% [4] - 'Net Sales- TA Division' is projected at $77.60 million, reflecting a year-over-year increase of +3.5% [4] - 'Net Sales- Product sales' is forecasted to be $379.44 million, suggesting a change of +0.9% year over year [4] Service and Product Sales Estimates - 'Net Sales- Service net sales- TA service' is estimated at $23.34 million, indicating a year-over-year decline of -3.8% [5] - 'Net Sales- Product Net Sales- Chemistry consumables' is expected to reach $138.45 million, reflecting a year-over-year increase of +3.2% [5] - 'Net Sales- Product Net Sales- TA instrument systems' is projected at $52.82 million, indicating a year-over-year change of +4.2% [6] - 'Net Sales- Service net sales- Waters service' is expected to be $249.33 million, reflecting a year-over-year increase of +5.5% [6] - 'Net Sales- Product Net Sales- Waters instrument systems' is forecasted at $188.18 million, indicating a year-over-year decline of -1.6% [7] Stock Performance - Waters shares have decreased by -4.1% over the past month, compared to a -0.7% change in the Zacks S&P 500 composite [8] - The company holds a Zacks Rank 3 (Hold), suggesting it is expected to closely follow overall market performance in the near term [8]

Core Viewpoint - Baron is an asset management firm that specializes in growth equity investment solutions, emphasizing a long-term and fundamental approach to investing [1] Company Overview - Founded in 1982, Baron has established a reputation for its active growth investing strategy [1] - The firm originated as an equity research company, which remains central to its operations [1] Communication Note - The account mentioned is not managed or monitored by Baron Capital, and inquiries should be directed through official channels [1]

Company Overview - Waters (WAT) is expected to report a year-over-year increase in earnings, with a projected EPS of $2.22, reflecting a change of +0.5% [3] - Revenues are anticipated to reach $654.63 million, marking a 2.8% increase from the previous year [3] Earnings Expectations - The consensus EPS estimate has been revised down by 0.22% over the last 30 days, indicating a reassessment by analysts [4] - The Zacks Earnings ESP for Waters is +0.20%, suggesting a likelihood of beating the consensus EPS estimate [11] Historical Performance - In the last reported quarter, Waters exceeded the expected EPS of $4.02 by delivering $4.10, resulting in a surprise of +1.99% [12] - Over the past four quarters, Waters has consistently beaten consensus EPS estimates [13] Industry Context - Idexx Laboratories (IDXX), a peer in the Zacks Medical - Instruments industry, is expected to report an EPS of $2.92, reflecting a year-over-year change of +3.9% [17] - Idexx's revenues are projected to be $1.02 billion, up 5.4% from the previous year [17] - The consensus EPS estimate for Idexx has been revised down by 0.4% in the last 30 days, with an Earnings ESP of -2.62%, indicating uncertainty in beating the consensus [18]

特别提示 微信公众号机制调整，请点击顶部"仪器信息网" → 右上方"…" → 设为 ★ 星标，否则很可能无法看到我们的推送。 短短两周内，国际贸易环境的变化给各行各业带来了诸多不确定性，特别是药厂和科研人员在高关税环境下，正苦苦寻 找新的替代品供应链，既要保证质量，又能实现成本可控。在此背景下，如何保障科研和检测工作的顺利进行，成为业 界关注的焦点。 近日， YILIMART平台宣布称：沃特世全系列色谱柱及消耗品产品已正式入驻 。这一举措不仅是沃特世在渠道布局上 的进一步延伸，更为国内用户提供了长期稳定的产品采购新途径，有效应对关税波动带来的成本上升和供应链不稳定的 风险。 据悉，YILIMART平台有着以下三大核心优势： 一、供应链保障，降低断供风险 YILIMART平台依托沃特世完善的全球供应链体系，致力于确保产品供应的及时性和稳定性，能够在关税波动和国际物 流变化的背景下，保持供货周期的连续性，帮助用户规避因关税波动导致的供应链中断风险。 二、价格透明，提升采购效率 为应对部分高端科研消耗品价格浮动频繁的问题，YILIMART平台有着公开透明的定价体系，用户可一键查询实时价 格，在线下单，简化了传统采购 ...

Core Viewpoint - Waters (WAT) is positioned well to continue its trend of beating earnings estimates, particularly in the Zacks Medical - Instruments industry [1]. Group 1: Earnings Performance - Waters has a strong history of beating earnings estimates, with an average surprise of 5.66% over the last two quarters [2]. - In the last reported quarter, Waters achieved earnings of $4.10 per share, surpassing the Zacks Consensus Estimate of $4.02 per share by 1.99% [3]. - For the previous quarter, the company reported earnings of $2.93 per share against an expectation of $2.68 per share, resulting in a surprise of 9.33% [3]. Group 2: Earnings Estimates and Predictions - Estimates for Waters have been trending higher, supported by its history of earnings surprises [6]. - The stock has a positive Zacks Earnings ESP of +0.20%, indicating increased analyst optimism regarding its near-term earnings potential [9]. - The combination of a positive Earnings ESP and a Zacks Rank of 3 (Hold) suggests a high likelihood of another earnings beat, with a historical success rate of nearly 70% for stocks with this combination [7][9]. Group 3: Upcoming Earnings Report - Waters' next earnings report is anticipated to be released on May 6, 2025 [9].

导读： 近期，关税战愈演愈烈，在此背景下，我们特别盘点美国十家科学仪器企业在华的发展布局，以期洞察未来趋势。 他还着重表示，珀金埃尔默太仓工厂扩建项目已完成，新的现代化生产设施和运营平台将在现有的太仓基地附近投产，面积扩大近四倍，并将 逐步实现全品类产线转移。这将进一步提升公司在中国市场的生产和运营规模，更好地服务中国客户。珀金埃尔默将持续关注中国市场与客户 需求的变化，不断推出适应中国市场的产品和解决方案，为中国客户提供创新技术和专业服务。 特别提示 微信公众号机制调整，请点击顶部"仪器信息网" → 右上方"…" → 设为 ★ 星标，否则很可能无法看到我们的推送。 2 0 2 5年2月2 8日，胡润研究院发布《2 0 2 4在中国的美国企业特别报告》，报告共收集了7 0家标普5 0 0成分股美国企业的数据，这些企业均披露 了其在中国市场的营收数据。 样本企业在全球市场的收入总额超过2 . 5万亿美元，相当于美国2 0 2 3年GDP总和的9%。报告中不仅提及了苹 果、特斯拉、沃尔玛等知名企业，还特别关注了珀金埃尔默、r e v v it y等科学仪器领域的美国品牌。 回顾历史，自上世纪8 0年代前后，珀金埃 ...

MILFORD, Mass., April 8, 2025 /PRNewswire/ -- Waters Corporation (NYSE:WAT) will hold its Q1 2025 financial results conference call on Tuesday, May 6th, 2025 at 8:00 a.m. Eastern Time. A live webcast of the presentation will be available on Waters Investor Relations website at https://ir.waters.com. A replay of the webcast will also be available until at least June 3rd, 2025, at midnight Eastern Time. About Waters Corporation  Waters Corporation (NYSE:WAT) is a global leader in analytical instruments, separ ...

4月1日，碧迪拟出售生命科学业务事件有了最新进展，该公司正与科学仪器行业两大巨头 赛默飞、丹纳赫 就出售其生命科学业务进行谈判。 此外，该公司还在与 沃特世、凯杰、瑞孚迪 等体量较小的潜在买家探索通过"反向莫里斯信托"免税换股方式完成交易。 早在2月6日，碧迪向外界披露了其正有条不紊地筹备拆分旗下极具价值的生命科学部门。该部门包括集成诊断解决方案（IDS）部门和生物科 学业务（BDB）部门。其中，IDS业务将保留在新的碧迪集团内。 导读： 4月1日，碧迪拟出售生命科学业务事件有了最新进展，该公司正与科学仪器行业两大巨头赛默飞、丹纳赫、沃特世、凯杰、瑞孚迪等就出售其生命科学业 务进行谈判。 特别提示 微信机制调整，点击顶部"仪器信息网" → 右上方"…" → 设为 ★ 星标，否则很可能无法看到我们的推送。 谁将成为最后赢家？ 如今，赛默飞、丹纳赫、沃特世、凯杰、瑞孚迪5潜在买家率先浮出水面，不意外的，都是科学仪器行业"知名老演员"。那么，谁将成为最后赢 家？ 据悉，此次拆分是由激进投资者St a r b o a r d Va l u e推动的。他们坚信，拆分后的生命科学部门能够摆脱原有的组织架构束缚，以更加独立 ...