Slide 1: Q1 2022 Earnings Call Presentation
Q1 2022 Earnings Call Presentation May 3, 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 Start to 2022 Focused on Execution, Innovation & Growth Delivering Sustainable Value ©2021 ©2022 Waters Corporation 3
Slide 4: Q1 2022 Results
Q1 2022 Results CC Revenue Growth Q1 2022 Revenue vs. PYR EPS Q1 2022 $691M +16% Non-GAAP $2.80 +13% As Reported CC Instrument Growth CC Recurring Rev Growth vs. PYR vs. PYR Growth vs. PYR +26% +9% +22% CC: Constant Currency PYR: Prior Year A reconciliation of these non-GAAP measures to the most dir
Slide 5: Focused on Execution
Focused on Execution Market+ Growth Drivers Two Highlighted Example Areas for the Quarter 1 Instrument Replacement ▪ Disciplined, ongoing replacement program 2 Service Attachment ▪ +1000 bps attachment rate potential over long-term ▪ Strong value proposition resulting in share gains +26% 3 Contract
Slide 6: Focused on Innovation
Focused on Innovation Significant leap forward in performance with smaller, more efficient footprint Core Mass 45% smaller and more powerful than any Spectrometry other mass spec in its class ▪ Quantitation applications in Food & Pharma with higher uptime & throughput ▪ Improved biopharma performanc
Slide 7: Focused on Growth
Focused on Growth Expanding capabilities in bioprocessing Bioprocessing Innovation Partnership Better aseptic ▪ Developing analytical solutions to Analytical Instruments sampling better characterize bioprocesses Impurities Purity ▪ Improve quality, yields and process Bioactivity Yield & efficiency u
Slide 8: Delivering Sustainable Value
Delivering Sustainable Value Achieving goals that build on our ESG principles #6 ©2022 Waters Corporation 8
Slide 9: Q1 2022 Revenue Stratification
Q1 2022 Revenue Stratification $77M $65M $254M $187M $325M 11% 10% $240M 27% OPERATING END 35% SEGMENTS MARKETS PRODUCTS & GEOGRAPHY 37% SERVICES 47% 30% $209M 60% 18% 89% 36% $613M $416M $126M $249M Growth %* Growth %* Growth %* Growth %* Waters +16% Pharma +19% Asia +14% Instruments +26% TA +18% I
Slide 10: FY & Q2 2022 Guidance
FY & Q2 2022 Guidance FY 2022 Q2 2022 CC Revenue Growth vs. FY 2021 CC Revenue Growth vs. Q2 2021 +7.5% to +9% +6% to +8% Reported Growth 4.5% to 6% at current FX Rates Reported Growth 2% to 4% at current FX Rates Non-GAAP EPS Non-GAAP EPS $11.90 to $12.10 $2.55 to $2.65 Based on current FX rates. A
Slide 11: Key Messages
Key Messages Strong Start to 2022 Focused on Execution, Innovation & Growth Delivering Sustainable Value ©2021 ©2022 Waters Corporation 11
Slide 12: Q&A
Q&A ©2021 Waters Corporation 12
Slide 13: Upcoming Investor Day
Upcoming Investor Day EVENT REGISTRATION V I R T U AL Please visit ir.waters.com, under “Events” or click here. IN-PERSON 8:30am – 1:30pm ET New York Stock Exchange (NYSE) Please email investor_relations@waters.com to request availability. ©2021 ©2022 Waters Corporation 13
Slide 14: Appendix: GAAP to Non-GAAP Reconciliations
Appendix GAAP to Non-GAAP Reconciliations
Slide 15: Sales Stratification - Reported & CC Growth
Sales Stratification - Reported & CC Growth Currency % Growth % Growth in '000 USD 2022 2021 Impact Reported CC 2022 vs. 2021 Operating Waters $ 613,156 $ 541,878 13% $ (15,856) 16% Segments TA $ 77,416 $ 66,667 16% $ (1,581) 18% Pharmaceutical $ 415,772 $ 360,148 15% $ (11,158) 19% End Industrial $
Slide 16: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Earnings Per Share Q2 & FY 2022 Guidance Q1 Q1 Q2 2022 FY 2022 2022 2021 Range Range GAAP $ 2.62 $ 2.37 Projected constant-currency sales growth rate* 6.0% - 8.0% 7.5% - 9.0% Adjustments: Projected currency impact (4.0%) (4.0%) (3.0%) - (3.0%) Purchased intangibles a
Slide 17: ir.waters.com
ir.waters.com Investor_Relations@Waters.com ©2021 Waters Corporation 17