WAT - Waters stock loses ground despite Q2 results beat raised FY 2022 guidance

Waters ( NYSE: WAT ) stock fell as much as 7.5% to $338 in Tuesday trading, despite the laboratory equipment maker reporting Q2 results that beat estimates and raising its FY 2022 guidance.

Investors could be selling off shares after the stock posted a five-day winning streak ahead of its earnings, over the course of which it gained nearly 6%.

WAT's Q2 non-GAAP EPS of $2.75 beat estimates by $0.08 , while its revenue of $714M beat expectations by $7.23M .

The company attributed the strong quarterly performance to broad-based performance across all end-markets and major geographies, led by a mid-teens growth in the U.S. and a 9% constant currency growth in China.

Waters ( WAT ) said it now expects FY 2022 constant currency sales growth in the range of 9.5% to 10.5% vs. a previously provided forecast of growth in the range of 7.5% to 9%. The consensus revenue estimate is for a 5.75% Y/Y growth to $2.95B.

FY 2022 non-GAAP EPS is now anticipated to be $11.95 to $12.05 from a previous forecast of $11.90 to $12.10. The consensus EPS estimate is $12.05.

Waters ( WAT ) also provided guidance for Q3. It expects Q3 constant currency sales growth of 8% to 10%. The consensus revenue estimate is for a 3.71% Y/Y growth to $683.68M. Q3 non-GAAP EPS is expected to be $2.50 to $2.60 vs. consensus EPS estimate of $2.70.

Up to Tuesday's close, WAT stock -1.9% YTD.

For further details see: