Waters to acquire Wyatt Technology for $1.36B cash; Q4 revenue up 9% CC, EPS beat

For fiscal year 2022, the Company’s sales were $2,972 million, an increase of 7% as reported and 12% in constant currency, compared to sales of $2,786 million for fiscal year 2021. On a GAAP basis, EPS for fiscal year 2022 increased to $11.73, compared to $11.17 for fiscal year 2021. On a non-GAAP basis, EPS increased by 7% to $12.02, compared to $11.20 in fiscal year 2021.

The Company expects full-year 2023 non-GAAP EPS in the range of $12.55 to $12.75, which includes an estimated headwind of approximately 3% due to unfavorable foreign exchange.

Waters Corporation (NYSE: WAT) today announced its financial results for the fourth quarter and full-year 2022. Sales for the fourth quarter of 2022 were $859 million, an increase of 3% as reported and 9% in constant currency, compared to sales of $836 million for the fourth quarter of 2021. On a GAAP basis, diluted earnings per share (EPS) for the fourth quarter of 2022 increased to $3.81, compared to $3.52 for the fourth quarter of 2021. On a non-GAAP basis, EPS was $3.84, compared to $3.67 for the fourth quarter of 2021.

On February 14, 2023, Waters Technologies Corporation (“WTC”), a Delaware corporation and a wholly-owned subsidiary of Waters Corporation (the “Company”), entered into a Share Purchase Agreement (the “Purchase Agreement”) with Wyatt Technology Corporation, a California corporation (“Wyatt Technology”), and the shareholders named therein (collectively, the “Shareholders”) and Geofrey Wyatt in his capacity as representative of the Shareholders (“Representative”), pursuant to which WTC agreed to acquire all issued and outstanding equity interests of Wyatt Technology for $1,360,000,000 in cash at closing, subject to customary adjustments for closing cash, closing indebtedness, closing working capital and closing transaction expenses, in each case as set forth in the Purchase Agreement (the “Transaction”).