Waters Corp (WAT.N) raised the lower end of its full-year profit forecast on Monday, following stronger-than-expected second-quarter results fueled by rising demand from biotech firms for its laboratory tools used in drug development and research.
Shares of the Milford, Massachusetts-based lab equipment maker rose 3.7% in premarket trading on light volume, News.Az reports, citing Reuters.
The company, which earns most of its revenue from biopharmaceutical clients, now expects adjusted earnings per share (EPS) for 2025 to range between $12.95 and $13.05, up from its previous range of $12.75 to $13.05.
CEO Udit Batra attributed the improved outlook to “strong execution against our commercial growth initiatives, rapid uptake of our new products, and contribution from incremental growth vectors such as GLP-1s, PFAS, and generics.”
Waters recently announced a deal to acquire a bioscience and diagnostics unit spun off from Becton Dickinson (BDX.N), aiming to expand its footprint in clinical and diagnostic applications. Batra said the acquisition would help the company tap into more resilient, high-volume markets.
For the third quarter, Waters projects adjusted EPS of $3.15 to $3.25, aligning closely with the analyst consensus of $3.23, according to LSEG data.
In Q2, Waters posted adjusted EPS of $2.95, slightly above analyst expectations of $2.94, while revenue rose 9% year-over-year to $771.3 million, surpassing the estimated $748.7 million.
The company’s performance follows a similar trend set by its larger peer Thermo Fisher Scientific (TMO.N), which also raised its profit guidance last month amid robust demand for its drug development products.
