Waters (WAT) Q4 FY24 earnings call

Waters Corporation concluded FY24 with strong Q4 results, driven by accelerating instrument sales and robust recurring revenue growth. The company is benefiting from a revitalized product portfolio and the early stages of an instrument replacement cycle, particularly in large pharma. Despite ongoing foreign exchange headwinds, Waters is positioned for continued growth in 2025, supported by idiosyncratic drivers like GLP-1 and PFAS testing, and strong execution in key geographies like India.