Waters Corporation (WAT) Q4 2022 Earnings Call Transcript

For the period ending December 31, 2022

February 15, 2023 8:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning and welcome to the Waters Corporation Fourth Quarter 2022 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 Mr. Caspar Tudor, Head of Investor Relations. Please go ahead, sir.

Caspar Tudor

Thank you, Catherine. Good morning, everyone and welcome to the Waters Corporation fourth quarter earnings call. We are very pleased to be speaking to you from Santa Barbara this morning where Wyatt Technology is located. We have a lot to cover today given our exciting – given our earnings results and our exciting announcements.

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. We are also glad to be joined by Wyatt Technology's Chief Executive Officer, Geof Wyatt; as well as its President, Cliff Wyatt.

Now, 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 future possible results and commentary on potential market and business conditions, including with respect to the announced transaction with Wyatt that may impact Waters Corporation over the first quarter of 2023, full-year 2023 and 2024.

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 fourth quarter of fiscal year 2021. In addition, unless stated otherwise, all 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 predictions or projections except as part of a regularly scheduled quarterly earnings release or as otherwise required by law.