Waters Corp ( (WAT) ) has released its Q2 earnings. Here is a breakdown of the information Waters Corp presented to its investors.
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Waters Corporation is a global leader in analytical instruments, separations technologies, and software, serving various scientific sectors including life, materials, food, and environmental sciences. The company has been operating for over 65 years, ensuring the efficacy of medicines, safety of food, and purity of water across more than 100 countries.
In its second quarter of 2025, Waters Corporation reported sales of $771 million, marking a 9% increase as reported and 8% in constant currency compared to the same period last year. The company’s GAAP EPS was $2.47, while non-GAAP EPS reached $2.95, both surpassing the mid-point of their guidance range.
Key highlights from the earnings report include a mid-single-digit growth in instruments, with high-single-digit growth in liquid chromatography (LC) and mass spectrometry (MS). Recurring revenue saw an 11% increase in constant currency, driven by a 9% growth in services and double-digit growth in chemistry. The pharmaceutical sector grew by 11% in constant currency, while the industrial sector grew by 6%, and the academic and government sector saw a 3% decline, which was better than expected.
Looking ahead, Waters Corporation has raised its full-year 2025 constant currency sales growth guidance to between 5.5% and 7.5%, and its non-GAAP EPS guidance to between $12.95 and $13.05. The company remains optimistic about its growth prospects, driven by strong execution of commercial growth initiatives and strategic acquisitions, positioning itself to deliver substantial value for shareholders.