Earnings release
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Waters NEWS RELEASE Waters Corporation ( NYSE : WAT ) Reports Second Quarter 2021 Financial Results 8/3/2021 • Sales of $ 682 million grew 31 % as reported and 27 % in constant currency • GAAP EPS of $ 2.69 ; non - GAAP EPS of $ 2.60 , a 24 % increase from prior year • Broad - based commercial momentum in pharmaceutical and industrial end markets Continued strength in core and new product instrument and chemistry sales • Strong and balanced customer demand across key regions and geographies MILFORD , Mass .-- ( BUSINESS WIRE ) -- Waters Corporation ( NYSE : WAT ) today announced second quarter 2021 sales of $ 682 million , a 31 % increase as reported , compared to sales of $ 520 million for the second quarter of 2020 . Foreign currency translation benefited sales growth by approximately 4 % for the quarter . On a GAAP basis , diluted earnings per share ( EPS ) for the second quarter of 2021 increased to $ 2.69 , compared to $ 1.98 for the second quarter of 2020. On a non - GAAP basis , EPS increased to $ 2.60 , compared to $ 2.10 for the second quarter of 2020. A description and reconciliation of GAAP to non - GAAP results appear in the tables below and can be found on the Company's website www.waters.com in the Investor Relations section . On a GAAP basis , net cash provided by operating activities was $ 143 million for the second quarter of 2021 , compared to $ 199 million for the second quarter of 2020. On a non - GAAP basis , adjusted free cash flow for the second quarter of 2021 was $ 155 million versus $ 175 million for the second quarter of 2020 . For the first half of 2021 , the Company's sales were $ 1,290 million , an increase of 31 % as reported , compared to sales of $ 985 million for the first half of 2020. Foreign currency translation benefited sales growth by approximately 4 % for the first half of 2021 . On a GAAP basis , EPS for the first half of 2021 increased to $ 5.05 , compared to $ 2.83 for the first half of 2020. On a non - GAAP basis , EPS increased to $ 4.89 , compared to $ 3.25 in the first half of 2020 . 1