Earnings release
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Waters NEWS RELEASE Waters Corporation ( NYSE : WAT ) Reports Third Quarter 2021 Financial Results 11/2/2021 • Salesof $ 659 million grew 11 % as reported and in constant currency • GAAP EPS of $ 2.60 ; non - GAAP EPS of $ 2.66 , a 23 % increase from prior year • Growth led by strong performance in pharmaceutical and industrial end markets • Double - digit growth in both instrument sales and recurring revenues Balanced customer demand across the Americas , Europe and Asia ● MILFORD , Mass .-- ( BUSINESS WIRE ) -- Waters Corporation ( NYSE : WAT ) today announced third quarter 2021 sales of $ 659 million , an 11 % increase as reported , compared to sales of $ 594 million for the third quarter of 2020. Foreign currency translation benefited sales growth by less than 1 % for the quarter . On a GAAP basis , diluted earnings per share ( EPS ) for the third quarter of 2021 increased to $ 2.60 , compared to $ 2.03 for the third quarter of 2020. On a non - GAAP basis , EPS increased to $ 2.66 , compared to $ 2.16 for the third 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 $ 168 million for the third quarter of 2021 , compared to $ 173 million for the third quarter of 2020. On a non - GAAP basis , adjusted free cash flow for the third quarter of 2021 was $ 140 million versus $ 190 million for the third quarter of 2020 . For the first nine months of 2021 , the Company's sales were $ 1,949 million , an increase of 23 % as reported , compared to sales of $ 1,579 million for the first nine months of 2020. Foreign currency translation benefited sales growth by approximately 2 % for the first nine months of 2021 . On a GAAP basis , EPS for the first nine months of 2021 increased to $ 7.66 , compared to $ 4.86 for the first nine months of 2020. On a non - GAAP basis , EPS increased to $ 7.54 , compared to $ 5.41 in the first nine months of 2020 . 1