Waters reports 30% sales increase in Q1

By The Science Advisory Board staff writers

Lab equipment supplier Waters reported significant sales growth during the first quarter of 2021.

Sales grew 31% to $609 million during the first quarter of 2021 (end-April 3). Sales were $465 million during the first quarter of 2020. Adjusted free cash flow increased 60% to $193 million in the first quarter of 2021, compared to $121 million during the same period the year before, according to the company.

"There is much to be pleased about with our first quarter results, driven by strong growth across each of our major end markets, with pharma leading the way," said Udit Batra, PhD, president and CEO of Waters. "Thanks to solid execution and instrument sales growing in double-digits, we saw revenue increases across every region, with China's sales more than doubling."

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