07:27 AM EDT, 07/31/2024 (MT Newswires) -- Waters (WAT) reported fiscal Q2 adjusted earnings Wednesday of $2.63 per diluted share, down from $2.80 a year earlier.

Analysts polled by Capital IQ expected $2.56.

Net sales for the quarter ended June 29 were $708.5 million compared with $740.6 million a year earlier.

Analysts surveyed by Capital IQ expected $699.9 million.

The company said it expects Q3 non-GAAP earnings per share of $2.60 to $2.70 and about a 0.5% decline in sales to a 1.5% increase. Analysts polled by Capital IQ expect adjusted earnings of $2.90 per share on revenue of $736.3 million.

For the full year, Waters said it now expects non-GAAP earnings per share of $11.55 to $11.65, from the previous range of $11.75 to $12.05, and about a 1.5% decline in sales compared with its previous forecast of a slightly less than 1% decline. Analysts surveyed by Capital IQ expect adjusted earnings of $11.80 per share on revenue of $2.96 billion.

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