Waters Corp. (NYSE: WAT) reported Q1 EPS of $1.59, $0.04 better than the analyst estimate of $1.55. Revenue for the quarter came in at $531 million versus the consensus estimate of $535.29 million.

• Sales of $531 million grew 7% as reported and 2% in constant currency
• Continued sales growth in pharma and TA, partially offset by declines in other areas
• Solid China and U.S. sales growth, somewhat offset by weakness in India
• GAAP EPS increased 7% to $1.40; non-GAAP EPS increased 9% to $1.59
• Board authorizes an additional $3 billion share repurchase program

Fiscal Year 2018 Financial Outlook

Waters Corporation reiterates its full-year 2018 guidance for constant currency sales growth in the mid-single-digit range, which it defines as 4% to 6%. As of today, currency translation is expected to increase 2018 sales growth by approximately 2% to 3%. The Company is revising its guidance for full-year 2018 non-GAAP earnings per fully diluted share to the range of $8.10 to $8.30, from the prior guidance range of $8.00 to $8.25. Please refer to the table below for a reconciliation of the projected GAAP to non-GAAP financial outlook for the full year.

GUIDANCE:

Waters Corp. sees FY2018 EPS of $8.10-$8.30, versus the consensus of $8.18.

For earnings history and earnings-related data on Waters Corp. (WAT) click here.