(Reuters) -Waters raised its annual profit forecast on Tuesday, after reporting better-than-expected first quarter results due to higher demand for its medical instruments in Asia and the Americas.
The company supplies lab equipment and technology across the world, with the majority of its revenue coming from biopharma clients who use its tools for research and drug development.
Although biotech companies have been skittish about buying lab equipment amid the Trump administration’s cuts across federal health agencies, Waters CEO Udit Batra said the company is well-positioned to mitigate the impact of tariffs and policy changes.
The Milford, Massachusetts-based company forecast annual adjusted profit between $12.75 per share and $13.05 per share, compared with previous range of $12.70 per share to $13.00 per share.
It now expects 2025 revenue growth in the range of 5% to 7%, compared with previously projected revenue growth of 4.5% to 7%.
The 67-year-old firm expects current quarter adjusted profit to be in the range of $2.88 per share to $2.98 per share. Analysts on average expect it to be $2.93 per share.
Waters reported first-quarter adjusted profit of $2.25 per share, beating analysts’ estimates of $2.22 per share, according to data compiled by LSEG.
Sales in Asia and the Americas jumped 6% each in the quarter.
Larger peer Thermo Fisher Scientific also reported better-than-expected profit and revenue for the first quarter on Wednesday, helped by resilient demand for its products and services used for developing therapies.
(Reporting by Siddhi Mahatole in Bengaluru; Editing by Sahal Muhammed)
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