Slide 1: Q2 2022 Earnings Call Presentation
Q2 2022 Earnings Call Presentation August 2, 2022
Slide 2: Forward-Looking Statements & Non-GAAP Financial Measures
Forward-Looking Statements & Non-GAAP Financial Measures This presentation contains forward-looking statements regarding future results and events, including financial and operational guidance and projected estimates. For this purpose, any statements that are not statements of historical fact may be
Slide 3: Key Messages
Key Messages Strong Execution in Healthy End-Markets Innovation Contributing to Growth Attractive & Resilient Base ©2022 Waters Corporation 3
Slide 4: Q2 2022 Results
Q2 2022 Results CC Revenue Growth Q2 2022 Revenue vs. PYR EPS Q2 2022 $714M +10% Non-GAAP +5% As Reported $2.75 CC Instrument Growth CC Recurring Rev Growth vs. PYR vs. PYR Growth vs. PYR +6% +12% +8% -11% FX Headwind Impact CC: Constant Currency PYR: Prior Year "A reconciliation of these non-GAAP m
Slide 5: Q2 2022 Revenue Stratification
Q2 2022 Revenue Stratification $79M $69M $278M $179M $338M 11% 10% $245M 25% OPERATING END 34% SEGMENTS MARKETS PRODUCTS & GEOGRAPHY 39% SERVICES 47% 29% $209M 61% 19% 89% 36% $635M $437M $132M $257M Growth %* Growth %* Growth %* Growth %* Waters +10% Pharma +10% Asia +9% Instruments +12% TA +12% In
Slide 6: 1H22: Executing Well Throughout the Organization
1H22: Executing Well Throughout the Organization Broad strength sustained across products, geographies and end markets 1H22 Y/Y Organic Sales Growth in Constant Currency Portfolio Geography End Markets Instruments +19% Americas +20% Pharmaceutical +14% Service +9% Europe +8% Industrial & Applied +12
Slide 7: Execution and Innovation is Driving Performance
Execution and Innovation is Driving Performance Market+ Growth Drivers Three Highlighted Example Areas for the Quarter 1 Instrument Replacement Disciplined, ongoing replacement program 100bps+ 2 Service Attachment +1000 bps attachment rate potential over long-term Y/Y Increase YTD 2022 3 Contrac
Slide 8: Focused on Further Innovation & Growth
Focused on Further Innovation & Growth Supporting Late-Stage Development and QC of Large Molecules Xevo™ G3 Q-TOF-MS improves attribute characterization of biologics and novel modalities, supporting their move move downstream into monitoring and routine analysis Product & Process Development Manufac
Slide 9: FY & Q3 2022 Guidance
FY & Q3 2022 Guidance FY 2022 Q3 2022 CC Revenue Growth vs. FY 2021 CC Revenue Growth vs. Q3 2021 +9.5% to +10.5% +8% to +10% Reported Growth 4.5% to 5.5% at current FX Rates Reported Growth 2% to 4% at current FX Rates Non-GAAP EPS Non-GAAP EPS $11.95 to $12.05 $2.50 to $2.60 Based on current FX ra
Slide 10: Q&A
Q&A ©2022 Waters Corporation 10
Slide 11: Appendix: GAAP to Non-GAAP Reconciliations
Appendix GAAP to Non-GAAP Reconciliations
Slide 12: Sales Stratification – Q2 2022 Reported & CC Growth
Sales Stratification – Q2 2022 Reported & CC Growth % Growth Currency % Growth (in millions USD) 2022 2021 Reported Impact CC Operating Waters $ 635.2 $ 607.3 5% $ (32.9) 10% Segments TA $ 79.2 $ 74.3 7% $ (3.8) 12% Pharmaceutical $ 437.2 $ 416.7 5% $ (22.1) 10% End Industrial $ 208.5 $ 202.6 3% $ (
Slide 13: Sales Stratification - 1st Half 2022 Reported & CC Growth
Sales Stratification - 1st Half 2022 Reported & CC Growth % Growth Currency % Growth (in millions USD) 2022 2021 Reported Impact CC Operating Waters $ 1,248.3 $ 1,149.2 9% $ (48.7) 13% Segments TA $ 156.6 $ 141.0 11% $ (5.3) 15% Pharmaceutical $ 852.9 $ 776.9 10% $ (33.3) 14% End Industrial $ 417.9
Slide 14: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Earnings Per Share FY 2022 and Q3 2022 Guidance Q2 Q2 FY 2022 Q3 2022 2022 2021 Range Range GAAP $ 2.72 $ 2.69 Projected constant-currency sales growth rate* 9.5% - 10.5% 8.0% - 10.0% Adjustments: Projected currency impact (5.0%) - (5.0%) (6.0%) (6.0%) Purchased inta
Slide 15: ir.waters.com
ir.waters.com Investor_Relations@Waters.com ©2022 Waters Corporation 15