Duyuru • Jul 02
Waters Corporation to Report Q2, 2026 Results on Aug 04, 2026 Waters Corporation announced that they will report Q2, 2026 results on Aug 04, 2026 Duyuru • Jun 09
Waters Corporation Launches BioResolve Peptide and GTxResolve Lipid Phenyl-Hexyl+ and C18+ Columns Waters Corporation had announced the launch of the BioResolve Peptide and GTxResolve Lipid Phenyl-Hexyl+ and C18+ Columns, a first-of-its-kind reversed-phase (RP) column platform designed to tackle a persistent biopharmaceutical challenge: reliably separating structurally and chemically similar impurities in GLP-1 peptides, insulin, and lipid nanoparticles (LNPs) to support the development of safe, effective drug products. BioResolve Peptide and GTxResolve Lipid Columns help to overcome these limitations with ready-to-use methods that improve both resolution and speed while fitting into existing workflows. BioResolve Peptide and GTxResolve Lipid Columns are designed to resolve chemically similar GLP-1 impurities and LNP components faster when speed matters, and with extraordinary resolution when certainty is required. BioResolve Peptide and GTxResolve Lipid Columns use specially designed surface chemistries and superficially porous particles to deliver precise RP separations with selectivity for two difficult sample types. Available in Phenyl-Hexyl+ and C18+ chemistries with 230 Å pore size particles, they are designed to support efficient mass transfer, consistent performance across U(H)PLC and HPLC systems, and reliable, batch-tested results from early-stage research through manufacturing. GLP-1 peptides are especially challenging to analyze because many impurities differ by just one atom, while others have no difference in atomic composition and vary only in how their atoms are arranged spatially. BioResolve Peptide Phenyl-Hexyl+ and C18+ Columns are built to resolve these difficult impurities, with specialized 300 mm formats available when maximum separation performance and deeper impurity characterization are required. For LNP and lipid workflows, the charged surface of GTxResolve Columns helps sharpen peaks for ionizable lipids by reducing tailing. Their larger pore size makes it easier for a wide range of lipid molecules to move through the column, improving peak shape and resolving challenging co-elutions. In addition, the superficially porous particle design speeds the movement of molecules through the stationary phase, shortening run times without reducing selectivity. GTxResolve Lipid RP Columns have demonstrated strong performance for lipid quantitation and impurity analysis, with reduced run times and excellent peak shape. The ability to tune separations for specific lipid components, combined with compatibility across multiple detector platforms (UV, MS, ELSD, and CAD), provides significant flexibility for characterization of diverse lipid species. Waters' BioResolve Peptide and GTxResolve Lipid Columns will be available globally beginning June 9, 2026, starting with the 1.6 µm Phenyl-Hexyl+ phase. Duyuru • Jun 04
Waters Corporation Announces FDA 510(k) Clearance Of BD BACTEC FXI Culture System Waters Corporation announced that the BD BACTEC FXI Culture System has received U.S. Food and Drug Administration (FDA) 510(k) clearance. This clearance enables commercialization in the U.S. and provides a new option for laboratories seeking a fully automated blood culture system designed to improve the speed, consistency, and accuracy of sepsis and bloodstream infection diagnostics in modern microbiology laboratories. Clinical study data showed that the BD BACTEC FXI Culture System reduced mean time to detection by approximately three hours (~15%) compared with the previous-generation BD BACTEC FX Blood Culture System (17 hours vs. 20 hours). Faster detection enables earlier pathogen identification and more timely targeted antimicrobial therapy for patients with suspected bloodstream infections and sepsis. Because each hour of delayed sepsis treatment increases mortality by 3.6% to 9.9%, faster diagnostic workflows are critical in acute care settings. The BD BACTEC FXI Culture System features a first-of-its-kind capability in a blood culture platform – an automated gravimetric measurement of individual blood culture vial volume. By objectively confirming blood volume in each vial, the system reduces pre-analytical variability and supports more consistent diagnostics and adherence to recommended collection practices. Designed for high-throughput microbiology labs, the BD BACTEC FXI Culture System fully automates vial loading, unloading, incubation, and detection alerts, with an automated loading capacity of up to 60 vials at a time, 50% more vials than the leading competitor. Available in 480- and 960-vial configurations, the BD BACTEC FXI Culture System delivers scalable efficiency while reducing manual intervention and increasing staff walk-away time. The BD BACTEC FXI Culture System was recently CE marked under the European Union's In Vitro Diagnostic Regulation (IVDR) and licensed by the Japan Pharmaceuticals and Medical Devices Agency (PMDA) for availability in Europe and Japan. The BD BACTEC FXI Culture System and BD BACTEC Blood Culture Vials are manufactured by Becton, Dickinson and Company or one of its affiliates or subsidiaries. BD is a trademark of Becton, Dickinson and Company. Waters is a trademark of Waters Corporation or its affiliates. All other marks are the property of their respective owners. The BD Biosciences and BD Diagnostic Solutions businesses have been acquired by Waters Corporation. Becton, Dickinson and Company or one of its affiliates or subsidiaries remains the legal manufacturer of Biosciences and Diagnostic Solutions products until all required regulatory transfers are completed. During this interim period, BD maintains full responsibility for all regulatory obligations of the legal manufacturer. Product information provided here is supplied under BD's regulatory authority. Duyuru • May 06
Waters Corporation Provides Earnings Guidance for the Second Quarter Ending July 4, 2026 and Full Year Ending December 31, 2026 Waters Corporation provided earnings guidance for the second quarter ending July 4, 2026 and full year ending December 31, 2026. For the quarter, the company expects total revenue for the second quarter of 2026 is expected to be in the range of $1.616 billion to $1.631 billion.
For the year, the company expects total revenue to be to be in the range of $6.405 billion to $6.455 billion on a reported basis. Duyuru • Apr 15
Waters Corporation Debuts Industry-First Extended-Range MALS Detector for UHPLC/UPLC Powering Rapid Characterization of Large Molecules Waters Corporation announced the launch of the Waters omniDAWN Multi-Angle Light Scattering (MALS) Photometer, part of the Wyatt Technology Portfolio. Featuring 18 angles of detection, the omniDAWN Photometer is the first extended-range MALS detector for Ultra High Performance Liquid Chromatography (UHPLC) and Ultra Performance Liquid Chromatography (UPLC) workflows, delivering absolute molar mass and size measurements without compromising resolution or throughput. The omniDAWN MALS Photometer extends UPLC-compatible sizing ten-fold, from approximately 50 to 500 nm in radius, enabling reliable characterization of larger, more complex analytes such as protein aggregates, viral vectors, lipid nanoparticles (LNPs), and advanced materials. Because it provides absolute molar mass and size, the omniDAWN Photometer reduces reliance on column calibration standards and supports faster results and more confident comparisons, streamlining work across biosimilarity studies, antibody-drug conjugate (ADC) characterization, and viral vector analytics. Integrating seamlessly with Waters UPLC Systems and columns, the omniDAWN Photometer eliminates traditional trade-offs between dispersion, robustness, and analytical performance, delivering a complete solution for multi-attribute characterization with improved usability compared to micro-volume MALS approaches. When paired with UHPLC or UPLC Systems, the omniDAWN Photometer supports run times up to four times faster than conventional HPLC workflows, while reducing sample consumption by 30–50% and solvent use by approximately 40%. Its low dispersion design preserves resolution and sensitivity, while delivering high-quality data across complex samples. Sharper separations enhance the detection of low-level species, helping scientists distinguish monomer, aggregates, and fragments with greater clarity, supporting informed decision-making across discovery, development, and quality workflows. The omniDAWN Photometer is powered by ASTRA Software, built on more than 40 years of light scattering innovation. By integrating MALS with ultraviolet (UV) and refractive index (RI) detection, ASTRA Software enables comprehensive analysis of size, composition, and heterogeneity in a single run, with dedicated workflows for ADCs, LNPs, and viral vectors. The platform is 21 CFR Part 11 and EU Annex 11 compliant and will be compatible with Waters Empower Software later this year. The Waters omniDAWN MALS Photometer will be available globally in summer 2026. Duyuru • Apr 10
Waters Corporation, Annual General Meeting, May 21, 2026 Waters Corporation, Annual General Meeting, May 21, 2026. Duyuru • Apr 08
Waters Corporation Announces U.S. Food and Drug Administration Clearance of the Most Comprehensive At-Home Cervical Cancer Screening Tool, the Onclarity HPV Self-Collection Kit and FDA-Approved HPV Assay Waters Corporation announced that the U.S. Food and Drug Administration (FDA) has cleared the Onclarity HPV Self-Collection Kit and approved the BD Onclarity HPV Assay with extended genotyping for at-home use, marking a significant milestone in expanding access to cervical cancer screening, and removing barriers that currently prevent many individuals from receiving routine screening. Cervical cancer is largely preventable with regular screening and early detection of human papillomavirus (HPV), the virus responsible for nearly all cervical cancers. Approximately 60% of cervical cancer cases occur in individuals who are unscreened or under-screened. Expanding screening options and access, including at-home self-collection, has been identified by public health experts as an instrumental strategy for improving early detection and reducing cervical cancer deaths. The kit is tested with the BD Onclarity HPV Assay, which detects all of the high-risk, carcinogenic genotypes of HPV and is the only FDA-approved HPV assay to identify six individually and three groups of pooled results, making it the most comprehensive HPV screening tool available in the U.S. today. Samples are processed on the fully automated BD COR System, which uses advanced robotics to prepare, analyze, and report results while preserving specimen integrity and ensuring reliable, high-quality outcomes. Waters collaborated with the National Institutes of Health's (NIH) National Cancer Institute (NCI) through the Cervical Cancer 'Last Mile' Initiative SHIP Trial to evaluate the accuracy of self-collection for HPV testing. Waters is currently establishing partnerships to enable broader nationwide access to the Onclarity HPV Self-Collection Kit, which is expected to be available by prescription in the coming months. Covered by private insurance, Medicaid, and Medicare, the kit can be mailed directly to a patient's home, allowing them to collect a sample at their convenience and mail it to a laboratory for processing. Results are shared with the patient's healthcare provider to guide follow-up and care decisions. The Onclarity HPV Self-Collection Kit, Onclarity HPV Assay, and BD COR System are manufactured by Becton, Dickinson and Company or one of its affiliates or subsidiaries. Duyuru • Mar 10
Waters Corporation Launches ARES-G3 Rheometer Waters Corporation launched the ARES-G3 Rheometer, part of the TA Instruments product line. This next-generation rheometer delivers industry-leading speed paired with best-in-class data to accelerate materials research and product development. Capturing up to 25,000 data points per second (10x more than its predecessor) and cutting standard test times by up to 80% through fully integrated Fast Frequency Chirps, the ARES-G3 Rheometer addresses pressing industry limitations. The ARES-G3 Rheometer enables shortened experiment times, increased lab throughput, and previously unobtainable measurements of fast-changing samples in a single test. Because it fully integrates a Fast Frequency Chirps solution into its enhanced TRIOS Software, the ARES-G3 Rheometer eliminates the need for multiple software licenses and training in advanced programming packages to capture and process data through rapid frequency sweeps. Routine quality control tests and data generation can also be completed up to 80% faster than before with some tests reduced from six hours to one; this translates to accelerated workflows that save teams hundreds of workdays per year under typical conditions, without sacrificing data quality. The ARES-G3 Rheometer can also perform many tests without requiring user calibrations, reducing margin for human error and increasing confidence in measurements. The ARES-G3 Rheometer builds on the flagship legacy of its predecessor, improving at-instrument control with a new touchscreen, enhancing data capture with hardware and software updates, and preserving its core proprietary, fully integrated dynamic mechanical analysis (DMA) capabilities and purpose-built hardware for both stress measurement and strain control. Retaining the best-in-class oven of the ARES-G2 Rheometer, this next-generation rheometer delivers low-oxygen atmosphere control and temperature uniformity, further simplifying the process of simulating real-world processing conditions, and enabling scientists to explore new rheological methods and gain a deeper understanding of structure-property relationships. All existing ARES-G2 Rheometer methods and fixtures remain fully compatible with the ARES-G3 Rheometer. The Waters TA Instruments ARES-G3 Rheometer is available for order. Duyuru • Feb 09
Waters Corporation Appoints Claire M. Fraser to Its Board of Directors Waters Corporation announced the appointment of Claire M. Fraser, Ph.D., to its Board of Directors, effective upon the closing of the transaction. Dr. Fraser is a globally acclaimed genome scientist, with three decades of experience managing large research institutes. Most recently, she served as Director of The Institute for Genome Sciences, which she founded in 2007, at the University of Maryland School of Medicine, where she also served as a Professor of Medicine and Microbiology and Immunology. Dr. Fraser received a B.S. in Biology from Rensselaer Polytechnic Institute in Troy, NY, and a Ph.D. in Pharmacology from the State University of New York at Buffalo. Duyuru • Jan 27
Waters Corporation to Report Q4, 2025 Results on Feb 09, 2026 Waters Corporation announced that they will report Q4, 2025 results on Feb 09, 2026 Duyuru • Nov 12
Waters Corporation Boosts Lab Productivity and Sample Throughput with Launch of Its Charged Aerosol Detector Designed for Empower Software Waters Corporation announced the launch of its Charged Aerosol Detector (CAD) specifically designed for use with Waters Empower Software. Waters is the global market leader in chromatography software solutions for regulatory filings, as Empower Software is used to submit data for approximately 80% of novel drugs to regulatory authorities. The Waters CAD delivers sensitive, consistent, and reproducible measurement of analytes with little or no UV absorption, including sugars, lipids, impurities, and excipients, often without the need for sample pre-treatment. This makes CAD ideal for characterizing an exceptionally broad range of materials, from small molecule and biopharmaceutical formulations to food additives, nutrients, and environmental pollutants. The Waters CAD delivers competitive dynamic range and sensitivity, alongside optimized compatibility with MaxPeak™? High-Performance Surfaces that mitigate non-specific adsorption. The new detector can be used with a wide range of Waters liquid chromatography systems, including the Alliancetm iS HPLC System, the Arctm HPLC System, and all ACQUITY™? UPLC™? Systems. The seamless integration of this CAD with broadly-adopted Empower Software delivers an enhanced user experience, supported by Waters' leading support and service provision. Issues commonly seen in multi-vendor LC-CAD systems, including challenging set-up and dropped communication between detector and chromatograph - leading to interrupted sample sets and in some cases detector flooding - are significantly reduced when using a Waters LC-CAD configured with Empower CDS. In addition, methods developed for existing CADs can be easily transferred using built-in tools. The introduction of the Waters Charged Aerosol Detect reinforces the Company's commitment to provide the world's widest range of liquid chromatography detectors, all compatible with Empower Software - enabling scientists to fully characterize the physical and chemical properties of molecules within a secure and compliant workflow. Availability: The Waters Charged Aerosoldetector (CAD) is available for pre-order now, with shipments available by April 2026. Duyuru • Nov 05
Waters Corporation Raises Earnings Guidance for the Fourth Quarter and Full Year Ending December 31, 2025 Waters Corporation raised earnings guidance for the fourth quarter and full year ending December 31, 2025. For the quarter, The company expects constant currency sales growth in the range of +5.0% to +7.0%. Net of currency translation, fourth quarter 2025 reported sales growth is expected in the range of +5.2% to +7.2%. The company expects GAAP earnings per diluted share in the range of $4.10 - $4.20.
The Company is raising its full-year 2025 constant currency sales growth guidance to the range of +6.7% to +7.3%. Net of currency translation, the Company is raising its full-year 2025 reported sales growth to the range of +6.5% to +7.1%. The company expects GAAP earnings per diluted share in the range of $11.10 - $11.20. Duyuru • Oct 01
Waters Corporation to Report Q3, 2025 Results on Nov 04, 2025 Waters Corporation announced that they will report Q3, 2025 results on Nov 04, 2025 Duyuru • Jul 15
Waters Corporation (NYSE:WAT) entered into a definitive agreement to acquire Biosciences and Diagnostics Solutions Business of Becton Dickinson and Company in a transaction valued at $17.5 billion. Waters Corporation (NYSE:WAT) entered into a definitive agreement to acquire Biosciences and Diagnostics Solutions Business of Becton Dickinson and Company in a transaction valued at $17.5 billion on July 13, 2025. BD’s shareholders are expected to own approximately 39.2% of the combined company, and existing Waters shareholders are expected to own approximately 60.8% of the combined company. BD will also receive a cash distribution of approximately $4 billion prior to completion of the combination, subject to adjustment for cash, working capital, and indebtedness. Waters is expected to assume approximately $4 billion of incremental debt, which would result in a net-debt-to-adjusted EBITDA leverage ratio for the combined company of 2.3x at closing.
The transaction is subject to receipt of required regulatory approvals, Waters shareholder approval, Any applicable waiting period under the HSR Act and satisfaction of other customary closing conditions. It was subject to approval by Boards of Directors of Waters and BD and has been unanimously approved by the Boards of Directors of both Waters and BD. The transaction is expected to close around the end of the first quarter of calendar year 2026.
Upon closing of the transaction, Udit Batra will lead the new entity, and Amol Chaubal will serve as SVP and Chief Financial Officer. Executives from both companies will serve in key leadership roles to be announced at a later date. Up to two BD designees will join the Waters Board of Directors upon closing. The combined company will continue to operate under the Waters name and retain its listing on the New York Stock Exchange under the ticker symbol WAT. Waters’ headquarters will remain in Milford, Massachusetts.
Barclays is serving as financial advisor and Daniel E. Wolf, P.C., David M. Klein, P.C., Allie M. Wein, P.C. and Steven M. Choi of Kirkland & Ellis LLP is serving as legal advisor to Waters. Citi and Evercore is acting as lead financial advisor to BD. David K. Lam and Jenna E. Levine of Wachtell, Lipton, Rosen & Katz is serving as legal advisor to BD. Duyuru • May 23
Waters Corporation (NYSE:WAT) acquired Halo Labs. Waters Corporation (NYSE:WAT) acquired Halo Labs on May 21, 2025. Halo Labs, Aura, and Wyatt Technology are trademarks of Waters Technologies Corporation.
Waters Corporation (NYSE:WAT) completed the acquisition of Halo Labs on May 21, 2025. Duyuru • May 21
Waters Corporation (NYSE:WAT) acquired Optofluidics, Inc. Waters Corporation (NYSE:WAT) acquired Optofluidics, Inc. on May 21, 2025.
Waters Corporation (NYSE:WAT) completed the acquisition of Optofluidics, Inc. on May 21, 2025. Duyuru • May 06
Waters Corporation Provides Earnings Guidance for the Second Quarter Ending June 28, 2025 and Full Year Ending December 31, 2025 Waters Corporation provided earnings guidance for the second quarter ending June 28, 2025 and full year ending December 31, 2025. For the second quarter, the company expects constant currency sales growth in the range of +5.0% to +7.0%. Net of currency translation, second quarter 2025 reported sales growth is expected in the range of +4.0% to +6.0%. GAAP earnings per diluted share is expected to be between $2.66 to $2.76.
For the year 2025, the company expects constant currency sales growth guidance to the range of +5.0% to +7.0%. Net of currency translation, the company is raising its full-year 2025 reported sales growth to the range of +4.0% to +6.0%. GAAP earnings per diluted share is expected to be between $11.88 to $12.18. Duyuru • Apr 11
Waters Corporation, Annual General Meeting, May 22, 2025 Waters Corporation, Annual General Meeting, May 22, 2025. Duyuru • Apr 01
Waters Expands Alliance iS Bio HPLC Product Line with Photodiode Array Detector to Enhance Spectral Insights for Biopharma Development & QC Waters Corporation announced the expansion of the Alliance™ iS Bio HPLC product line with integrated photodiode array (PDA) detection, advancing the capabilities of the next-generation intelligent HPLC platform designed for development and Quality Control (QC) laboratories. The Alliance iS HPLC Platform has been purposefully designed to simplify laboratory workflows by reducing the risk of out-of-specification results and the need for troubleshooting. Default system parameters provide over threefold improvement in day-to-day reproducibility and reduce carryover by up to two orders of magnitude, compared to other systems on the market. Additionally, with MaxPeak Premier columns, the Alliance iS Bio HPLC System enhances out-of-the-box sensitivity by up to 80 times compared to traditional systems and columns. Waters now offers four configurations of the Alliance iS HPLC Platform to support routine quantitative analysis and expanded spectral analysis of small and large molecules in development and QC. All configurations are controlled by the compliance-ready Waters EmpowerTM Chromatography Data System, which enables laboratories to collect, manage, and report chromatography test results. The platform also supports connectivity with laboratory information management systems (LIMS) to help high-volume QC labs manage operational risk, mitigate disruptions, and increase overall productivity. The Alliance iS HPLC Platform has earned the Accountability, Consistency, and Transparency (ACT) Ecolabels from My Green Lab, a nonprofit organization dedicated to building a global culture of sustainability in science. Notably, the product line was recognized for its sustainable manufacturing practices and innovative error-reducing design, underscoring the commitment of Waters to reducing the most significant environmental impacts. The Waters Alliance iS Bio HPLC System with PDA detection is available for order now. Duyuru • Feb 13
Waters Corporation Provides Earnings Guidance for the First Quarter of 2025 and Full Year 2025 Waters Corporation provided earnings guidance for the first quarter of 2025 and full year 2025. For the quarter, the company expects constant currency sales growth to be in the range of +4.0% to +7.0%. Currency translation is expected to decrease first quarter sales growth by approximately 3.0%. The resulting first quarter 2025 reported sales growth is expected in the range of +1.0% to +4.0%.
For the full year, the company expects constant currency sales growth to be in the range of +4.5% to +7.0%. Currency translation is expected to decrease full-year sales growth by approximately 2.0%. The resulting full-year 2025 reported sales growth is expected in the range of +2.5% to +5.0%. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €354, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 21x in the Life Sciences industry in Europe. Total returns to shareholders of 16% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €392 per share. Duyuru • Nov 02
Waters Corporation Raises Earnings Guidance for the Full Year of Fiscal Year Ending December 31, 2024 Waters Corporation raised earnings guidance for the full year of fiscal year ending December 31, 2024. The company is raising its full-year 2024 sales guidance, and now expects organic constant currency sales growth to be in the range of negative 0.9% to negative 0.3%. Currency translation is expected to decrease full-year sales growth by 1.2%. M&A contribution from the Wyatt transaction covering the first four-and-a-half months of the year has added 1.3% to full-year reported sales. The resulting full-year 2024 reported sales growth is expected in the range of negative 0.8% to negative 0.2%. GAAP earnings per diluted share to be in the range of $10.55 to $10.75. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: US$2.72 (vs US$2.28 in 3Q 2023) Third quarter 2024 results: EPS: US$2.72 (up from US$2.28 in 3Q 2023). Revenue: US$740.3m (up 4.0% from 3Q 2023). Net income: US$161.5m (up 20% from 3Q 2023). Profit margin: 22% (up from 19% in 3Q 2023). Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Life Sciences industry in Europe. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 1% per year. Duyuru • Nov 01
Waters Corporation Provides Earnings Guidance for the Fourth Quarter Ending December 31, 2024 Waters Corporation provided earnings guidance for the fourth quarter ending December 31, 2024. The company expects fourth quarter 2024 constant currency sales growth to be in the range of positive 5.0% to positive 7.0%. Currency translation is expected to decrease fourth quarter sales growth by 1.7%. The resulting fourth quarter 2024 reported sales growth is expected in the range of positive 3.3% to positive 5.3%. GAAP earnings per diluted share to be in the range of $3.72 to $3.92. Buy Or Sell Opportunity • Oct 18
Now 21% undervalued Over the last 90 days, the stock has risen 14% to €320. The fair value is estimated to be €403, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.6% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 5.0% per annum. Earnings are also forecast to grow by 8.2% per annum over the same time period. Duyuru • Oct 14
Waters Corporation Announces New Bioseparations Tools Accelerate and Improve Development of Rna-Based Vaccines and Therapies Using LC-MS Analysis Waters Corporation introduced a comprehensive set of sample preparation enzymes, reagents, and waters_connect software that simplify sequence and modification confirmation of large molecule RNA therapeutics using liquid chromatography-mass spectrometry analysis. When used together in a workflow, these bioseparations tools help accelerate and improve the development of innovative large molecule RNA-based pharmaceuticals, such as CRISPR sgRNA and mRNA therapeutics. Large molecule RNA (ribonucleic acid) therapeutics represent some of the most exciting and potentially life-saving developments in pharmaceuticals today. They include new and more effective vaccines for diseases like COVID-19, personalized cancer treatments, as well as emerging CRISPR RNA therapies that address challenging genetic conditions, such as sickle cell anemia. The Waters RNA analytical tools include:
Enzymes: Two novel enzymes, RapiZyme MC1 and RapiZyme Cusativin, are used in a simplified three-step protocol that provides complete LC-MS sequence coverage over traditional digestion methods enabling more confident characterization of RNA molecules. Reagents: IonHance HFIP, an LC-MS-grade reagent, is formulated to improve ionization and delivers increased spectral clarity and detection accuracy of RNA components. Software: New MAP Sequence application on the waters_connect software platform simplifies RNA LC-MS oligo mapping workflows to accelerate analysis and data processing time over manual techniques using spreadsheets. Used together within a workflow, the tools generate an LC-MS fingerprint to confirm product identity, purity, and efficacy. The tools improve sequence coverage, LC-MS spectral data quality, and data interpretation. Supported by the compliance-ready waters_connect software platform, these tools help transition LC and LC-MS-based digestion analysis from discovery and development to release and at-line process analytical testing. Waters RapiZyme RNAses and IonHance HFIP are now available. The new MAP Sequence App on waters_connect software will be available on October 18, 2024. Duyuru • Oct 08
Waters Corporation Introduces TA Instruments Discovery Core Rheometer Waters Corporation introduced the TA Instruments Discovery Core Rheometer, a streamlined, modern rheometer designed for routine manufacturing quality control and assurance laboratories. The new analyzer can handle multiple material types such as battery slurries, printing inks, food, and personal care products and it features an easy-to-use touchscreen interface with self-guided training, methods, and applications for all levels of rheology users. The Discovery Core Rheometer expands the company's rheology portfolio, providing superior performance at an affordable price over commercial viscometers and other similarly appointed rheometers, delivering up to 2x lower torque sensitivity. The compact instrument requires half the bench space of comparable modular rheometers and owes its smaller size to the use of self-contained temperature control and electronics. The instrument comes equipped with the new RheoGuide Software user interface (UI), designed for immediate walk-up use. This UI provides self-guided training applications and pre-defined methods coupled with on-screen alerts and indicators for easier sample set-up, faster, real-time data analysis, and improved operator safety. The Discovery Core Rheometer shares methods and raw data file formats with other Discovery Hybrid Rheometers through TA Instruments TRIOS™ Software, enabling consistent measurements and data review from R&D to production. The Discovery Core Rheometer is orderable, with worldwide availability in First Quarter 2025. Buy Or Sell Opportunity • Aug 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.4% to €299. The fair value is estimated to be €377, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.6% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 5.0% per annum. Earnings are also forecast to grow by 8.2% per annum over the same time period. Buy Or Sell Opportunity • Aug 05
Now 23% undervalued Over the last 90 days, the stock has risen 4.2% to €307. The fair value is estimated to be €397, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 2.6% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 5.0% per annum. Earnings are also forecast to grow by 8.2% per annum over the same time period. Reported Earnings • Aug 01
Second quarter 2024 earnings released: EPS: US$2.41 (vs US$2.56 in 2Q 2023) Second quarter 2024 results: EPS: US$2.41 (down from US$2.56 in 2Q 2023). Revenue: US$708.5m (down 4.3% from 2Q 2023). Net income: US$142.7m (down 5.2% from 2Q 2023). Profit margin: 20% (in line with 2Q 2023). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Life Sciences industry in Europe. Over the last 3 years on average, earnings per share has fallen by 2% per year and the company’s share price has also fallen by 2% per year. Duyuru • Jul 23
Waters Corporation New Rapid Screening-DSC Enables Up to 24x Faster Thermal Stability Testing at Ultra-Low Sample Volumes for Antibody Drugs Waters Corporation announced the global release of the TA Instruments™ Rapid Screening- Differential Scanning Calorimeter (TA Instruments RS-DSC), designed for biopharmaceutical developers. The TA Instruments RS-DSC is a high-throughput DSC for precise thermal stability testing of high-concentration biologic formulations specifically for antibody drugs and engineered proteins. The TA Instruments RS- DSC offers a more convenient and accurate solution to assess biological drug stability and quality by employing disposable, low sample volume microfluidic chips (MFCs) that enable up to 24 simultaneous measurements. This reduces or eliminates the need for sample dilution, repetitive instrument cleaning, and lowers contamination risk. Its unique design avoids the sensitivity challenges of DSF methods, enabling it to produce more accurate data on high-concentration samples. Additionally, the TA Instruments RS-DSC features automated software that provides rapid, effortless, precise, and in-depth insights about a sample's thermodynamic properties. The TA Instruments RS-DA is now available globally to all customers through the TA Instruments Division of Waters Corporation. Buy Or Sell Opportunity • Jul 01
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to €267. The fair value is estimated to be €352, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 4.8% per annum. Earnings are also forecast to grow by 7.6% per annum over the same time period. Buy Or Sell Opportunity • Jun 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 18% to €267. The fair value is estimated to be €336, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 4.9% per annum. Earnings are also forecast to grow by 7.6% per annum over the same time period. Duyuru • May 08
Waters Corporation Provides Earnings Guidance for the Second Quarter and Full Year of 2024 Waters Corporation provided earnings guidance for the second quarter and full year of 2024. For the second quarter, the company expects organic constant currency sales growth to be in the range of -6.0% to -4.0%. Currency translation is expected to decrease second quarter sales growth by approximately 2%. The resulting second quarter 2024 reported sales growth is expected in the range of -6.5% to -4.5%.For the year 2024, the company expects organic constant currency sales growth to be in the range of -0.5% to +1.5%. Currency translation is expected to decrease full-year sales growth by slightly less than 1%. The resulting full-year 2024 reported sales growth is expected in the range of 0.0% to +2.0%. Reported Earnings • May 07
First quarter 2024 earnings released: EPS: US$1.73 (vs US$2.39 in 1Q 2023) First quarter 2024 results: EPS: US$1.73 (down from US$2.39 in 1Q 2023). Revenue: US$636.8m (down 7.0% from 1Q 2023). Net income: US$102.2m (down 28% from 1Q 2023). Profit margin: 16% (down from 21% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Life Sciences industry in Europe. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 4% per year. Duyuru • Apr 23
Waters Corporation Accelerates the Development of Gene-Based Therapeutics with New GTxResolve Premier SEC Columns Waters Corporation introduced new GTxResolve Premier Size Exclusion Chromatography (SEC) 1000A 3-micron (3 um) Columns. Waters has implemented a unique combination of novel packing materials and MaxPeak™? Premier High-Performance Surface (HPS) technology into the columns to help scientists accelerate the development of gene-based therapeutics, including cell & gene, mRNA and LNPs. SEC has emerged as an important platform analytical technique, but existing technologies require extensive column conditioning, consume large amounts of sample, and require lengthy run times to resolve impurities, making them an imperfect solution. Waters GTxResolve Premier SEC 1000Å 3 µm Columns address those challenges by providing higher sensitivity, resolution, and throughput by combining novel particle technology with low adsorption MaxPeak Premier HPS Technology. They make it possible for scientists to assess drug safety and efficacy more quickly and expedite the development of gene-based therapeutics and vaccines that are both more efficacious and accessible to patients globally. GTxResolve Premier SEC Columns are engineered to reduce problematic non-specific binding, minimize mobile phase method development challenges, and provide higher throughput separation efficiency. They offer up to 50% increases in resolution for components present within mRNA, LNPs, and viral vector samples. They offer low out-of-the-box secondary interactions, enabling robust multi-attribute platform methods and more than 2x improvements in sample consumption, run times, and sensitivity versus existing 5 and 10 µm HPLC columns. Waters GTxResolve Premier SEC 1000Å 3 µm Columns are now available globally, alongside Waters previously released GTxResolve Premier BEH SEC 450Å 2.5 µm Columns. These column technologies are quality control batch-tested with an industry-first use of both protein and nucleic acid test mixtures to ensure new levels of separation reproducibility. Duyuru • Mar 30
Waters Corporation, Annual General Meeting, May 23, 2024 Waters Corporation, Annual General Meeting, May 23, 2024, at 09:00 US Eastern Standard Time. Agenda: To elect directors to serve for the ensuing year and until their successors are elected; to ratify the selection of PricewaterhouseCoopers LLP as the company's independent registered public accounting firm for the fiscal year ending December 31, 2024; to approve, by non-binding vote, executive compensation; to amend the company's certificate of incorporation to provide for exculpation of certain officers of the company as permitted by recent amendments to Delaware law; and to consider other matters. Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: US$10.87 (vs US$11.80 in FY 2022) Full year 2023 results: EPS: US$10.87 (down from US$11.80 in FY 2022). Revenue: US$2.96b (flat on FY 2022). Net income: US$642.2m (down 9.3% from FY 2022). Profit margin: 22% (down from 24% in FY 2022). Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Life Sciences industry in Europe. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 07
Full year 2023 earnings released: EPS: US$10.87 (vs US$11.80 in FY 2022) Full year 2023 results: EPS: US$10.87 (down from US$11.80 in FY 2022). Revenue: US$2.96b (flat on FY 2022). Net income: US$642.2m (down 9.3% from FY 2022). Profit margin: 22% (down from 24% in FY 2022). Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 10.0% growth forecast for the Life Sciences industry in Europe. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 8% per year. Duyuru • Feb 06
Waters Corporation Provides Earnings Guidance for the First Quarter and Full-Year 2024 Waters Corporation provided earnings guidance for the First Quarter and Full-Year 2024. For the quarter, the company expects organic constant currency sales growth to be in the range of -11% to -9%. Currency translation is expected to decrease first quarter sales growth by approximately 1%. The Wyatt transaction is expected to increase first quarter reported sales growth by 3.5%. The resulting first quarter 2024 reported sales growth is expected in the range of -8.5% to -6.5%.For the year, the company expects organic constant currency sales growth to be in the range of -0.5% to +1.5%. Currency translation is expected to decrease full-year sales growth by approximately 1%. M&A contribution from the Wyatt transaction covering the first four and a half months of the year is expected to increase full-year reported sales growth by 1.3%. The resulting full-year 2024 reported sales growth is expected in the range of 0% to +2%. Reported Earnings • Nov 08
Third quarter 2023 earnings released: EPS: US$2.28 (vs US$2.61 in 3Q 2022) Third quarter 2023 results: EPS: US$2.28 (down from US$2.61 in 3Q 2022). Revenue: US$711.7m (flat on 3Q 2022). Net income: US$134.6m (down 14% from 3Q 2022). Profit margin: 19% (down from 22% in 3Q 2022). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Life Sciences industry in Europe. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 6% per year. Buying Opportunity • Nov 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be €289, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 12%. For the next 3 years, revenue is forecast to grow by 5.3% per annum. Earnings is also forecast to grow by 7.0% per annum over the same time period. Duyuru • Oct 25
Waters Corporation Announces Resignation of Jonathan Pratt as Senior Vice President of the Waters Division Waters Corporation announced that Jonathan Pratt has decided to step down from his role as Senior Vice President of the Waters Division, to pursue an external opportunity. He will remain with Waters until October 27, 2023 to ensure a smooth transition. Christos (“Chris”) Ross, Senior Vice President of Global Operations, will serve as Interim Senior Vice President of the Waters Division effective immediately, until a permanent successor is named. Mr. Ross will continue as Senior Vice President of Global Operations and will maintain his existing responsibilities with the support of the Global Operations leadership team and the Executive Committee. As part of its normal process the Company has initiated a search to identify a permanent successor and will evaluate internal and external candidates. Duyuru • Oct 20
Waters Corporation Launched OligoWorks SPE Workflow and Kits Waters Corporation announced the launch of OligoWorks SPE (solid phase extraction) Kits and components to improve sample preparation for LC-MS-based bioanalytical quantitation of therapeutic oligonucleotides. Pharma and biopharma companies developing oligonucleotide therapeutics and the Contract Research Organizations (CROs) that support them can now realize up to a 2x increase over competing products in oligonucleotide recovery from biofluids. The Kits deliver greater reproducibility and LC-MS sensitivity, enabling lower limits of quantitation and reducing the need for repeat experiments. The pipeline for oligonucleotide therapeutics is rapidly expanding with thirteen FDA approved oligonucleotide therapeutics today, and 500+ in the pipeline. While potent, these highly modified oligonucleotides are challenging to precisely quantify during dosing, metabolism, and tissue distribution studies. OligoWorks SPE Kits also use an innovative, enzyme-enhanced, and detergent-free sample pretreatment that reduces washing steps and improves mass spectrometer compatibility, thus enabling direct injection LC-MS analysis and lower limits of quantitation. They can also be fully automated for improved productivity, or to simply help scientists gain back time by reducing manual steps and oversight. Available immediately, OligoWorks SPE Kits and components are another high-performance tool within the growing portfolio of Waters chemistry solutions to support oligonucleotide bioanalysis. They complement Waters best-selling MaxPeak Premier Columns, ACQUITY Premier LC System and Arc Premier LC System, Andrew+ Pipetting Robot, and the class-leading sensitivity of the Waters Xevo TQ Absolute Mass Spectrometer. Buying Opportunity • Oct 13
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €303, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.7% over the last 3 years. Earnings per share has grown by 12%. For the next 3 years, revenue is forecast to grow by 5.7% per annum. Earnings is also forecast to grow by 7.3% per annum over the same time period. Duyuru • Sep 21
Waters Corporation Introduces DynaPro™? ZetaStar™? Instrument from its Wyatt Technology™? Portfolio for Nanoparticle Analysis Waters Corporation introduced the DynaPro™ ZetaStar™ instrument from its Wyatt Technology™ portfolio for nanoparticle analysis. The new instrument simultaneously enables dynamic and static light scattering and dynamic and electrophoretic light scattering (DLS/SLS/ELS) measurements, all in one device. By combining multiple light scattering techniques and automatically assessing data quality and performing adaptive data capture, the ZetaStar instrument delivers both increased sensitivity and faster measurements to aid the precise development of complex biologics, using extremely low sample volumes. A unique flow cell design allows the ZetaStar instrument to be configured with an autosampler, significantly increasing laboratory efficiency and productivity with dozens of unattended measurements that can be run for several hours or even overnight. The instrument's ability to measure simultaneous DLS and ELS along with the adaptive data collection functionality, improves the speed of traditional ELS measurements by up to 10x. The simple design of the ZetaStar instrument features a walk-up touchscreen interface that allows scientists to collect five critical parameters in a single workflow: size, polydispersity, particle concentration, zeta potential, and turbidity, thus allowing extremely low sample volumes (down to 2 µL). These parameters are essential for characterizing the size and charge (zeta potential) of particles and macromolecules in a solution. The instrument implements a novel algorithm that removes potential user error and bias, leading to easier implementation and faster time to results. System uptime has also been improved with features that prevent the instrument from falling out of alignment, leading to a more efficient lab. Designed to support the expanding needs of biopharma formulation and development laboratories, the ZetaStar instrument helps scientists working in gene therapy, vaccines, mRNA, and proteins develop more stable therapies. It can also benefit R&D laboratories in material science investigating the colloidal stability of novel molecules like quantum dots or other metal nanoparticles used in semiconductor applications. Duyuru • Aug 04
Waters Corporation Provides Earnings Guidance for the Third Quarter and Full Year 2023 Waters Corporation provided earnings guidance for the third quarter and full year 2023. For the quarter, the company expects third quarter 2023 organic constant currency sales growth to decline in the range of -4% to -2%. Currency translation is expected to increase third quarter sales growth by approximately 1%. The Wyatt transaction is expected to increase third quarter reported sales growth by approximately 4%. The resulting third quarter 2023 reported sales growth is expected in the range of 1% to 3%. For the year, the company expects full-year 2023 organic constant currency sales growth in the range of 0.5% to 1.5%. Currency translation is expected to have minimal impact on full-year organic sales growth. The Wyatt transaction is expected to increase full-year reported sales growth by approximately 2.5%. The resulting full-year 2023 reported sales growth is expected in the range of 3% to 4%. Reported Earnings • Aug 03
Second quarter 2023 earnings released: EPS: US$2.56 (vs US$2.74 in 2Q 2022) Second quarter 2023 results: EPS: US$2.56 (down from US$2.74 in 2Q 2022). Revenue: US$740.6m (up 3.7% from 2Q 2022). Net income: US$150.6m (down 8.7% from 2Q 2022). Profit margin: 20% (down from 23% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Life Sciences industry in Europe. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 15% per year. Duyuru • Aug 02
Waters Corporation Launches XBridge Premier GTx BEH SEC Columns for Gene Therapy Applications Waters Corporation introduced the first in a new line of size exclusion chromatography (SEC) columns aimed at improving the analysis while lowering the cost of gene therapies, specifically adeno-associated viral (AAV) vectors. The new Waters™ XBridge™ Premier GTx BEH™ SEC columns doubles the speed of measuring the potency and safety of AAVs. Combining the columns with light scattering technologies from its Wyatt Technology portfolio deepens the level of information acquired from a single experiment and optimizes the manufacturing of these novel gene delivery vehicles. AAVs are modified viruses made in bioreactors by living cells and are the number one vehicle for carrying therapeutic genes into human cells. Waters scientists have developed a fast and efficient multi-attribute quantification methodiv of characterizing AAVs that features the following Waters products: ACQUITY™ Premier UPLC™ Systems or Arc™ Premier HPLC Systems; XBridge Premier GTx BEH SEC 450Å 2.5 µm columns; Arc Premier 2489 UV/Visible detector or 2998 photodiode array detector; Wyatt™ DAWN™ multi-angle light scattering detector; and Wyatt Optilab™ differential refractive index detector. XBridge Premier GTx BEH SEC columns are now available worldwide from Waters. Duyuru • May 10
Waters Corporation Provides Earnings Guidance for the Second Quarter of 2023 and Fiscal Year 2023 Waters Corporation provided earnings guidance for the second quarter of 2023 and fiscal year 2023. For the quarter, the company expects constant currency sales growth in the range of 1% to 3%. Currency translation is expected to decrease second quarter sales growth by approximately 1%. For the full year, the company expects full-year 2023 organic constant currency sales growth in the range of 3% to 5%. Currency translation is expected to have minimal impact on full-year organic sales growth. The Wyatt transaction is expected to increase full-year reported sales growth by approximately 2.5%. The resulting full-year 2023 reported sales growth is expected in the range of 5.5% to 7.5%. Reported Earnings • May 09
First quarter 2023 earnings released: EPS: US$2.39 (vs US$2.64 in 1Q 2022) First quarter 2023 results: EPS: US$2.39 (down from US$2.64 in 1Q 2022). Revenue: US$684.7m (flat on 1Q 2022). Net income: US$140.9m (down 12% from 1Q 2022). Profit margin: 21% (down from 23% in 1Q 2022). Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Life Sciences industry in Europe. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 13% per year. Recent Insider Transactions • Mar 02
Independent Director recently bought €940k worth of stock On the 28th of February, Mark Vergnano bought around 3k shares on-market at roughly €295 per share. This transaction increased Mark's direct individual holding by 9x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Duyuru • Feb 16
Waters Corporation Provides Earnings Guidance for the First Quarter of 2023 and Fiscal Year 2023 Waters Corporation provided earnings guidance for the first quarter of 2023 and fiscal year 2023. For the quarter, the company expects constant currency sales growth in the range of 4% to 6%. Currency translation is expected to decrease first quarter sales growth by approximately 4%.For the full year, the company expects full-year 2023 organic constant currency sales growth in the range of 5% to 6.5%. Currency translation is expected to decrease full-year organic sales growth by approximately 1%. Reported Earnings • Feb 16
Full year 2022 earnings released: EPS: US$11.80 (vs US$11.25 in FY 2021) Full year 2022 results: EPS: US$11.80 (up from US$11.25 in FY 2021). Revenue: US$2.97b (up 6.7% from FY 2021). Net income: US$707.8m (up 2.2% from FY 2021). Profit margin: 24% (down from 25% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Life Sciences industry in Europe. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 16% per year. Duyuru • Jan 26
Waters Corporation Announces Waters_Connect™ System Monitoring Waters Corporation announced waters_connect™ System Monitoring, a new Software-as-a-Service (SaaS) application that enables laboratory managers and analysts to monitor the real-time status of any chromatography instruments, regardless of the manufacturer, running on Waters™ Empower™ Software The waters_connect System Monitoring app is the only cloud-native software application that enables real-time monitoring of all chromatography instruments controlled by Waters Empower software. (Photo: Business Wire) The waters_connect System Monitoring application was developed especially for high-volume quality assurance/quality control (QA/QC) laboratories. It can reduce the turnaround time of product release samples and facilitate the planning and progress of critical analyses via live, at-a-glance dashboard views of the operational status of chromatography instruments. The cloud-native application also helps lab managers utilize capital resources better by providing an understanding of instrument history and usage levels and improve the productivity of their teams. The waters_connect System Monitoring application is available immediately in Europe and North America. Recent Insider Transactions • Dec 03
Independent Director recently sold €344k worth of stock On the 30th of November, Edward Conard sold around 1k shares on-market at roughly €325 per share. This transaction amounted to 1.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Board Change • Dec 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Mark Vergnano was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 02
Third quarter 2022 earnings released: EPS: US$2.61 (vs US$2.63 in 3Q 2021) Third quarter 2022 results: EPS: US$2.61 (down from US$2.63 in 3Q 2021). Revenue: US$708.6m (up 7.5% from 3Q 2021). Net income: US$156.0m (down 3.2% from 3Q 2021). Profit margin: 22% (down from 25% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Life Sciences industry in Europe. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 16% per year. Reported Earnings • Aug 03
Second quarter 2022 earnings released: EPS: US$2.74 (vs US$2.71 in 2Q 2021) Second quarter 2022 results: EPS: US$2.74. Revenue: US$714.3m (up 4.8% from 2Q 2021). Net income: US$164.9m (down 1.5% from 2Q 2021). Profit margin: 23% (down from 25% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 4.0%, compared to a 13% growth forecast for the industry in Germany. Reported Earnings • May 04
First quarter 2022 earnings released: EPS: US$2.64 (vs US$2.38 in 1Q 2021) First quarter 2022 results: EPS: US$2.64 (up from US$2.38 in 1Q 2021). Revenue: US$690.6m (up 14% from 1Q 2021). Net income: US$159.8m (up 7.9% from 1Q 2021). Profit margin: 23% (down from 24% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 4.1%, compared to a 12% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 15% per year. Reported Earnings • Feb 04
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$11.25 (up from US$8.40 in FY 2020). Revenue: US$2.79b (up 18% from FY 2020). Net income: US$692.8m (up 33% from FY 2020). Profit margin: 25% (up from 22% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 5.1%, compared to a 44% growth forecast for the pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 12% per year. Reported Earnings • Nov 03
Third quarter 2021 earnings released: EPS US$2.63 (vs US$2.05 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$659.2m (up 11% from 3Q 2020). Net income: US$161.2m (up 27% from 3Q 2020). Profit margin: 25% (up from 21% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 22% per year. Board Change • Nov 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director John Ballbach was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Oct 31
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director John Ballbach was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Executive Departure • Oct 12
Independent Director Michael Berendt has left the company On the 5th of October, Michael Berendt's tenure as Independent Director ended after 23.6 years in the role. As of June 2021, Michael still personally held 21.26k shares (€6.2m worth at the time). A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 1.58 years, which is considered inexperienced in the Simply Wall St Risk Model. Recent Insider Transactions • Aug 08
Lead Independent Director recently sold €2.8m worth of stock On the 5th of August, Thomas Salice sold around 9k shares on-market at roughly €334 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €3.1m more than they bought in the last 12 months. Reported Earnings • Aug 04
Second quarter 2021 earnings released: EPS US$2.71 (vs US$1.99 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: US$681.6m (up 31% from 2Q 2020). Net income: US$167.3m (up 36% from 2Q 2020). Profit margin: 25% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • May 26
Independent Director recently sold €302k worth of stock On the 24th of May, Michael Berendt sold around 1k shares on-market at roughly €260 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €329k more than they bought in the last 12 months. Executive Departure • May 19
Independent Director has left the company On the 11th of May, JoAnn Reed's tenure as Independent Director ended after 15.0 years in the role. As of December 2020, JoAnn personally held 32.24k shares (€6.4m worth at the time). A total of 3 executives have left over the last 12 months. Reported Earnings • May 06
First quarter 2021 earnings released: EPS US$2.38 (vs US$0.86 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$608.5m (up 31% from 1Q 2020). Net income: US$148.1m (up 177% from 1Q 2020). Profit margin: 24% (up from 12% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 26
Full year 2020 earnings released: EPS US$8.40 (vs US$8.76 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: US$2.37b (down 1.7% from FY 2019). Net income: US$521.6m (down 12% from FY 2019). Profit margin: 22% (down from 25% in FY 2019). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Feb 26
Revenue beats expectations Revenue exceeded analyst estimates by 3.3%. Over the next year, revenue is forecast to grow 8.3%, compared to a 22% growth forecast for the Life Sciences industry in Germany. Is New 90 Day High Low • Feb 04
New 90-day high: €242 The company is up 32% from its price of €183 on 06 November 2020. The German market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Life Sciences industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €180 per share. Reported Earnings • Feb 04
Full year 2020 earnings released: EPS US$8.40 (vs US$8.76 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: US$2.37b (down 1.7% from FY 2019). Net income: US$521.6m (down 12% from FY 2019). Profit margin: 22% (down from 25% in FY 2019). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Feb 04
Revenue beats expectations Revenue exceeded analyst estimates by 3.3%. Over the next year, revenue is forecast to grow 8.0%, compared to a 30% growth forecast for the Life Sciences industry in Germany. Is New 90 Day High Low • Jan 07
New 90-day high: €206 The company is up 21% from its price of €170 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Life Sciences industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €175 per share. Is New 90 Day High Low • Dec 12
New 90-day high: €198 The company is up 14% from its price of €174 on 11 September 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Life Sciences industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €184 per share. 
