Waters (WAT) reported Q4 adjusted earnings Wednesday of $4.10 per diluted share, up from $3.62 a year earlier.

Analysts polled by FactSet expected $4.03.

Net sales for the quarter ended Dec. 31 were $872.7 million, compared with $819.5 million a year earlier. Analysts surveyed by FactSet expected $857.1 million.

The company expects Q1 adjusted earnings of $2.17 to $2.25 per diluted share. Analysts polled by FactSet expect $2.41.

Waters said it expects full-year 2025 adjusted earnings of $12.70 to $13 per diluted share. Analysts surveyed by FactSet predict $12.82.

Shares were down nearly 4% in premarket activity.