07:28 AM EDT, 05/07/2024 (MT Newswires) -- Waters (WAT) reported Q1 non-GAAP earnings Tuesday of $2.21 per diluted share, down from $2.49 a year earlier.

Analysts polled by Capital IQ expected $2.09.

Net sales for the quarter ended March 30 were $636.8 million, compared with $684.7 million a year earlier.

Analysts polled by Capital IQ expected $635.5 million.

The company said it expects Q2 non-GAAP EPS of $2.50 to $2.60 and sales to decline 4.5% to 6.5%. Analysts polled by Capital IQ expect $2.75 in normalized EPS on revenue of $728.5 million.

For the full year, Waters reiterated its forecast of $11.75 to $12.05 in non-GAAP EPS and a range of 0% to 2% in sales growth. Analysts polled by Capital IQ expect $11.89 in normalized EPS on revenue of $2.98 billion.