Waters said net sales for Q1 2025 increased 4% compared with Q1 2024, with foreign currency translation decreasing sales growth by 3%. The company cited increased customer demand for LC, MS and LC & MS instrument systems as factors for the growth.

10-QQuarterly reportFiled May 6, 2025Period of report Mar 29, 2025Summary published (UTC) Oct 11, 2026

Key points

AI summary

Waters said net sales for Q1 2025 increased 4% compared with Q1 2024, with foreign currency translation decreasing sales growth by 3%. The company cited increased customer demand for LC, MS and LC & MS instrument systems as factors for the growth.
Waters said operating income for Q1 2025 was $152 million, an increase of 13% compared with $134 million in Q1 2024. It cited higher sales volume and the absence of $8 million in restructuring expense and $10 million in patent litigation expense incurred in Q1 2024 as factors for the increase.
Waters said net cash provided by operating activities for Q1 2025 was $260 million, a slight decrease from $263 million in Q1 2024. The company cited higher accounts receivable due to increased sales volume and higher annual incentive bonus payments as factors for the decrease.
Waters said total outstanding debt as of March 29, 2025 was $1.5 billion, consisting of $1.3 billion in senior unsecured notes and $200 million borrowed under its credit agreement, and net debt borrowings decreased by $170 million during Q1 2025.

Key figures

Quarter ended March 29, 2025

Revenue: $662M
Operating income: $152M
Net income: $121M
EPS: $2.03
Operating cash flow: $260M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Q1 2025 Net Sales Up 4%

Waters said net sales for Q1 2025 increased 4% compared with Q1 2024, with foreign currency translation decreasing sales growth by 3%. The company cited increased customer demand for LC, MS and LC & MS instrument systems as factors for the growth.

Source · Based on the MD&A text of the filing

Operating Income $152 million, Up 13%

Waters said operating income for Q1 2025 was $152 million, an increase of 13% compared with $134 million in Q1 2024. It cited higher sales volume and the absence of $8 million in restructuring expense and $10 million in patent litigation expense incurred in Q1 2024 as factors for the increase.

Source · Based on the MD&A text of the filing

Operating Cash Flow $260 million

Waters said net cash provided by operating activities for Q1 2025 was $260 million, a slight decrease from $263 million in Q1 2024. The company cited higher accounts receivable due to increased sales volume and higher annual incentive bonus payments as factors for the decrease.

Source · Based on the MD&A text of the filing

Total Outstanding Debt $1.5 billion

Waters said total outstanding debt as of March 29, 2025 was $1.5 billion, consisting of $1.3 billion in senior unsecured notes and $200 million borrowed under its credit agreement, and net debt borrowings decreased by $170 million during Q1 2025.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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