Waters (WAT) Q2 Earnings and Revenues Top Estimates

Core Viewpoint - Waters reported revenues of $708.53 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 1.51%, but down from $740.58 million year-over-year [1] - The company has surpassed consensus revenue estimates three times in the last four quarters [1] Financial Performance - Waters achieved earnings of $2.63 per share, beating the Zacks Consensus Estimate of $2.55 per share, compared to $2.80 per share a year ago [8] - The current consensus EPS estimate for the upcoming quarter is $2.89 on revenues of $739.43 million, and for the current fiscal year, it is $11.83 on revenues of $2.96 billion [2] Market Performance - Waters shares have declined approximately 0.5% since the beginning of the year, while the S&P 500 has gained 14% [5] - The stock's immediate price movement will depend on management's commentary during the earnings call [9] Industry Outlook - The Medical - Instruments industry is currently ranked in the top 41% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [11] - The estimate revisions trend for Waters is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, suggesting expected underperformance in the near future [14]