Waters Corp Raises Profit Forecast Due to Lab Equipment Demand
Photo by Toon Lambrechts on Unsplash
Waters Corporation raised its annual profit outlook due to a strong third quarter where they beat analyst predictions with $3.40 earnings per share on $800 million revenue, driven by higher demand from biotechnology companies. Consequently, the company now anticipates a full-year adjusted profit between $13.05 and $13.15 per share, and shares jumped almost 10% following the news.
Key takeaways
- Waters Corporation increased its annual profit forecast on Tuesday after exceeding analyst expectations in the third quarter, fueled by stronger demand from biotechnology clients
- Following the announcement, the company's shares experienced a surge of nearly 10% in early trading
- The laboratory equipment manufacturer reported an adjusted third-quarter profit of $3
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