Slide 1: Q3 2021 Earnings Call Presentation
Q3 2021 Earnings Call Presentation November 2, 2021
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 guidance and projected estimates. For this purpose, any statements that are not statements of historical fact may be deemed forward-
Slide 3: Q3 Key Messages
Q3 Key Messages Sustaining our Commercial Momentum Well-Positioned to Deliver Market+ Growth in 2022 Driving Towards High-Growth Adjacencies ©2021 Waters Corporation 3
Slide 4: Q3 & YTD 2021 Results
Q3 & YTD 2021 Results CC Revenue Growth 2YR CC Revenue EPS Q3 2021 Q3 2021 Revenue vs. Q3 2020 CAGR vs. Q3 2019 Non-GAAP $2.66 $659M +11% +6% +11% As Reported Growth vs. PYR CC Revenue Growth 2YR CC Revenue +23% YTD 2021 Revenue vs. YTD 2020 CAGR vs. YTD 2019 $1,949M +21% +6% 2YR CAGR +23% As Report
Slide 5: Q3 2021 Revenue Stratification
Q3 2021 Revenue Stratification $77M $65M $255M $174M $296M 12% 10% $240M 26% OPERATING END 36% SEGMENTS MARKETS PRODUCTS & GEOGRAPHY 39% SERVICES 45% 30% $196M 60% 88% 35% 19% $582M $398M $123M $231M Growth %* Growth %* Growth %* Growth %* Waters +9% Pharma +16% Asia +8% Instruments +10% TA +27% Ind
Slide 6: Well-Positioned to Deliver Market+ Growth in 2022
Well-Positioned to Deliver Market+ Growth in 2022 2022 EST 2022 EST 2022 EST 2022 EST 2022 EST $40M+ +100 bps >35% +LDD $60M+ vs. 2021 vs. 2021 2021 EST 2021 YTD 2021 YTD 2021 YTD 2021 EST $30M+ +200 bps >27% 40%+ $45M+ vs. 2019 vs. 21% 2019 vs. 2019 Instrument Service eCommerce Contract New Product
Slide 7: Solving Critical Problems in High-Growth Adjacencies
Solving Critical Problems in High-Growth Adjacencies Biologic Reagents Separating and purifying newer modalities & Bio-separation Bioprocess Decoupling the process from the product for Characterization manufacturing of large molecules LC-MS in An unbiased, multiplexed, multiomic and ultra-high Diagn
Slide 8: Making Strides in Bioprocessing
Making Strides in Bioprocessing + Helping bioprocessing scientists improve the Focused on developing analytical solutions to speed and accuracy of product development better characterize bioprocesses Better aseptic Sensors sampling + Analytical instruments Data analytics FAST COMPREHENSIVE EASY TO U
Slide 9: Q4 & FY 2021 Guidance
Q4 & FY 2021 Guidance Q4 2021 FY 2021 CC Revenue Growth vs. Q4 2020 CC Revenue Growth vs. FY 2020 +5% to +7% +15% to +16% Reported Growth 3% to 5% at current FX Rates Reported Growth 16% to 17% at current FX Rates Non-GAAP EPS Non-GAAP EPS $3.40 to $3.50 $10.94 to $11.04 FX rates current as of 11/02
Slide 10: STEM Program for Students of All Backgrounds
STEM Program for Students of All Backgrounds Hands-on practical exposure, experience and mentoring WEEK 1 WEEK 2 WEEK 3 WEEK 4 WEEK 5 WEEK 6 Scientific Field Service Immerse Lab Chemistry & Manufacturing IT & Operations & HR Research Communications ©2021 Waters Corporation 10
Slide 11: Q&A
Q&A ©2021 Waters Corporation 11
Slide 12: Appendix: GAAP to Non-GAAP Reconciliations
APPENDIX GAAP to Non-GAAP Reconciliations
Slide 13: Sales Stratification - Reported & CC Growth
Sales Stratification - Reported & CC Growth Currency Currency Reported % CC % % Growth % Growth % Growth % Growth in '000 USD 2021 2020 Impact 2020 2019 Impact 2 YR CAGR 2 YR CAGR Reported CC Reported CC 2021 vs. 2020 2020 vs. 2019 2021 vs. 2019 2021 vs. 2019 Operating Waters 581,811 533,466 9% 1,92
Slide 14: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Earnings Per Share Q4 & FY Guidance Q3 Q3 Q3 Q4 2021 FY 2021 2021 2020 2019 Range Range GAAP $ 2.60 $ 2.03 $ 2.07 Projected constant-currency sales growth rate* 5% - 7% 15% - 16% Adjustments: Projected currency impact (2%) (2%) 1% - 1% Purchased intangibles amortizat