WASHINGTON (dpa-AFX) - Specialty measurement company Waters Corp. (WAT),
while reporting weak earnings in its third quarter, on Tuesday issued
fourth-quarter outlook below market estimates, and trimmed its fiscal 2023
forecast, also below the Street view.

For the fourth quarter, the company expects adjusted earnings per share in the
range of $3.52 to $3.62.

Analysts on average expect the company to report earnings of $4.29 per share,
according to figures compiled by Thomson Reuters. Analysts' estimates typically
exclude special items.

For the quarter, reported sales would be down 3 percent to 6 percent, and
organic constant currency sales would decline in the range of 5 percent to 8
percent.

The Wyatt transaction is expected to increase fourth-quarter reported sales
growth by approximately 3.5 percent.

Further, for fiscal 2023, the company now expects adjusted earnings per share in
the range of $11.65 to $11.75, lower than previously expected range of $12.20 to
$12.30.

The Street is looking for earnings of $12.14 per share for the quarter.

Waters now expects sales to be down 1 percent on a reported basis and down 1
percent to 2 percent on organic constant currency basis.

The company previously expected sales growth in a range of 3 to 4 percent, and
organic constant currency sales growth of 0.5 to 1.5 percent.

In its third quarter, Waters' earnings decreased from the same period last year
but beat the Street estimates.

The company's bottom line came in at $134.55 million, or $2.27 per share. This
compares with $156.00 million, or $2.60 per share, in last year's third quarter.

Adjusted earnings were $168.55 million or $2.84 per share for the period.
Analysts had expected the company to earn $2.56 per share.

The company's revenue for the quarter rose 0.4 percent to $711.69 million from
$708.56 million last year.

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