Waters Corp (WAT) released its first quarter results on Thursday, May 6, 2021. The company reported net earnings of $2.37 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 177 percent compared to the same period a year ago.
Waters Corporation was founded in 1958 and is headquartered in Milford, Massachusetts. Waters Corporation, a specialty measurement company, provides analytical workflow solutions in Asia, the Americas, and Europe. It operates through two segments, Waters and TA.
Waters' revenue increased 6 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 63.09% for the first quarter compared to the same period in the previous year, and operating margins increased to 28.29% over the same period. Net earnings for past trailing twelve months were $616.14 million, up 15% from the prior year.
Moving on to the balance sheet, Waters' cash levels jumped 30% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 21.59% this past year. The current ratio for Waters now stands at 1.74. The company decreased shares outstanding by 0.44%.
Shares of WAT are currently trading around $309.01. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 31.29 and price to book ratio of 83.8.