10:34 AM EDT, 11/01/2024 (MT Newswires) -- (Updates with stock price movement in the headline and first paragraph.)

Waters (WAT) shares jumped nearly 17% in recent trading on Friday after its Q3 adjusted earnings and sales exceeded analysts' estimates and the company raised 2024 earnings guidance.

The company earlier reported Q3 adjusted earnings of $2.93 per diluted share, up from $2.84 a year earlier.

Analysts surveyed by Capital IQ expected $2.68.

Net sales for the quarter ended Sept. 28 were $740.3 million, compared with $711.7 million a year earlier.

Analysts polled by Capital IQ expected $713.2 million.

The company said it expects Q4 non-GAAP earnings of $3.90 to $4.10 per share. Analysts polled by Capital IQ expect $4.09.

For the full year, the company said it now expects non-GAAP EPS of $11.67 to $11.87 from the prior range of $11.55 to $11.65. Analysts surveyed by Capital IQ expect $11.60.

Price: 377.93, Change: +54.82, Percent Change: +16.97