Waters Corporation (WAT) Q1 2023 Earnings Call Transcript

For the period ending April 1, 2023

May 9, 2023 8:00a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning. Welcome to the Waters Corporation First Quarter 2023 Financial Results Conference Call.

All participants will be in a listen-only mode until the question-and-answer session of today’s call. This conference is being recorded. If anyone has any objections, please disconnect at this time.

It is now my pleasure to turn the call over to Caspar Tudor, Head of Investor Relations. Sir, please go ahead.

Caspar Tudor

Thank you, Brad. Good morning, everyone and welcome to the Waters' Corporation first quarter earnings call. Today, I am joined by Dr. Udit Batra, Waters' President and Chief Executive Officer; and Amol Chaubal, Waters' Senior Vice President and Chief Financial Officer.

Before we begin, I will cover the cautionary language. In this conference call, we will make various forward-looking statements regarding future events or future financial performance of the company. In particular, we will provide guidance regarding possible future results and commentary on potential market and business conditions, including with respect to the close of the Wyatt transaction, that impacts Waters Corporation over the second quarter of 2023 and full-year 2023. These statements are only our present expectations and actual events or results may differ materially. For more details, please see the risk factors included in our most recent annual report on Form 10-K, our Form 10-Qs, and the cautionary language included in this morning's earnings release.

During today's call, we will refer to certain non-GAAP financial measures, including in our discussions of the results of operations. Reconciliations of the non-GAAP financial measures to the most directly comparable GAAP measures are attached to our earnings release issued this morning and in the appendix of our presentation, which were available on the company's website.

Unless stated otherwise, references to quarterly results increasing or decreasing are in comparison to the first quarter of fiscal year 2022. In addition, unless stated otherwise, all the year-over-year revenue growth rates and ranges given on today's call are given on a comparable constant currency basis. Finally, we do not intend to update our predictions or projections except as part of a regularly scheduled quarterly earnings release or as otherwise required by law.

Now, I'd like to turn the call over to our Udit, to deliver our key messages for the quarter and then Amol will provide a more detailed look at our financial results. After, we'll open up the phone lines to take questions. Udit?