good Thank Thanks, everyone. Chief Bryan. for is Sherry Along this And call joining us Bryan morning, me joining Brokmeier, Financial today. you Officer. morning's Waters' Buck, with on
review our During our today's financial commentary as overview and provide will call, I detail broader financial provide our comments and on results then business. in our an as markets first on operating full-year some of results and will outlook. XXXX quarter Sherry quarter well second
on factors strong context color I'd given time. period momentum key business TA global and China, challenges, macro in to QX unexpected share Starting for in then China per phone as the I'd first take will extended open an was and the Europe by on of up has in earnings and of in fell China flat, and budgets growth the your our comment more the short that which Instruments. a with of the bit some we saw was questions. impacts well and like a first give China, expectations: country. Europe, release three double-digit our drove first to adjusted is result you of give To of important to our delivered of our XX% our lines against that expectations. We majority for quarter's shortfall business reliably constituted like quarter of revenue XXXX slow customers. This Total the reflected industrial pharmaceutical Sales X%. well growth greater-than-expected as
XX%. our X+X business revenue In unique X%, industry, the Our our infrastructure, as of approximately representing the as was our result business government's the generic over the with restructure pharma the primarily representing pharmaceutical as ongoing XX% food well food mix is safety China our impacting in capital as policy well purchasing. declined quarter, the which within first in of China testing portfolio, global and of customers'
policy were we we referenced, not pronounced from adverse impact XXXX aware their XXXX an changes While and of in was the expected. had impact seen more we than QX them
economy for from On view strong that end-market and to and will market are return continue the where remains a the China reforms confident intended in strengthen key strong as manufacturing food remain be growth local position. side, the expect export we as positive and throughout into Chinese a innovation we I customer mentioned economy to industries Furthermore, beneficiaries. a and our utilization growth. a improvement sustainable transforms The to the growth China year government driver economic pharmaceutical company
As from such, volatility these reforms if short-term experience phases. we even to we benefit implementation these during expect
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a pleased as operating quarter our our plans. evidencing were continuing cash with briefly modest income the closer look our comments budget a control, by defined releases in model Demand the few large disciplined while China level the levels, market biomedical customers remained at our Turning to a on We reflected in molecule in flow conversion growth Notably, lower-than-anticipated our historically and the by business, review high manufacturers broadly our from to to flat key business customers as deployment our our robust generic by largest and corporate at initiatives. sales. of our level, and growth statement, category quarter. in high the slower-than-expected earnings-per-share strong, Taking invest first at starting sales were with offset applications the expense pharmaceutical capital supporting was research well US. categories pharmaceutical
continue as analytical feel good testing. well in franchise our We strong to the in solutions, durability our of small about and positioning LC-MS as biopharmaceutical targeted molecule
environmental we our by quarter. the growth in the and softer-than-expected previously base safety, industrial science, material notable Additionally, Europe. across in positions decline customer macro growth of in worldwide opportunities Sales confident category, and our most described environmental showed generic and as conditions we industrial science was the reflecting applications. sentiment. to remain which as material food and This encouraged our are science, during and includes in the X% to product the declined return improving India as pipeline Despite food during pharmaceutical material well the markets, the quarter, food markets, breadth China
the offset Looking category, US by in growth at and our governmental sector. quarter partially the the and academic first Europe, the X% food in in earlier-described grew sales China with strong weakness
healthy pace in Our particularly recent success pharmaceutical continuing of the in global reflects this discovery. category innovation,
Next, sales performance I will geography our level. at the review by corporate
grew the in excuse quarter offset and our first Asia, terms of in in aforementioned China region in our terms growth X% growth solid largest Korea. India, – weakness of in as Japan, revenue, me,
India QX and by trends. We about cautiously the remain improving digit are mid-single optimistic encouraged in growth
Americas, were Turning US flat in quarter, sales the in while grew sales the overall to X%. the
down Solid we've and the category in weaker the Within academic our pharma, largest was and to governmental in applications, environment on categories a slower offset we both sales in we which applications industrial release dynamic pharma, seen and remains this was small budgets offset robust. pharma Despite drag of softness customers. remained large saw US in due strength capital quarter, the by customers. pharmaceutical the while In in governmental our QX start quarter, before. and industrial largely were slower-than-expected healthy the large growth in the by demand Europe, demand molecule molecule particular, believe region, X% in in our academic US
encouraging weakness our in global in Europe, in and releases Finally, US franchise in by review budget the product down in as a chemistry previously India. base the I demand mentioned Waters quarter strong China business brands. slower strength Waters LC in branded China LC of data and the in instrument leadership, offset standard first by confident and We industry Europe. TA within the a the our characterized installed headwinds system. remain dynamics aforementioned partially chromatography instrument is were line sales the and and reflected result of X% our and which generic LC will
we spectrometry, seeing our QX improved mass modest spec our pressure, for but demand to high-resolution faced are business mass Looking in portfolio.
we've ACQUITY January, in look existing category recurring a reflect customers BioAccord bioseparation as and is as were This a are activity. of molecule shipped the therapeutics. mover base level characterize that the the our I progress in change process we in and kits. the X% Waters seen forward the both from building combination service application robust, grew columns, pipeline. our and new solution are of installed chemistry of launch large instruments, demo the we launch we of and chemistries, high Systems established in the fit-for-purpose, first on further driven early quarter. way pleased and global precision quoting service as biopharmaceutical branded development and our LC-MS new well through Additionally, which Recurring UPLC monitor with interest customers. have year. large been simple, plans, and and you to updating Since revenues, market stability by a will robust revenues strength the BioAccord columns
industry slow of Discovery products, we TMA TA setting new transition thermal Mechanical focused this we softening big line, product product on to we year across start XXX, picture, a at glass expansion, Earlier number a Turning most information of release. Pittcon, five-point coefficient Thermal very the a which a geographies in about against and XXXX creation including the Returning experienced by providing budget QX our a slow to temperatures. steadfastly materials model. particularly to value and Analyzer TA remain new linear due introduced shrinkage, Europe to standard our is categories, executing
focused accumulator performance-oriented a and value to by consistently discipline fifth, thank a in executing position holding shareholder communicate, and deployer; third, maintaining continuous aim growth leading capital opportunities February. our with structurally organic Day driven this everyone for by operations; and create like improvement strategy management number as capital shift we seeking Investor attractive team. in channel innovation; As in markets; culture specialty we – first position being operational we I to two, attended biennial to fourth, a would who operating capital held a from innovation,
takeaways to were those able I'd to key meeting. from that not For like attend, who highlight three
global has Waters unique very specialty franchise defined positioning. First, by our a
This the capital and, achieve therefore, more during giving optimal cycle. the to unexpected, and by the macro now growth pharmaceutical budgets in access in the momentum quarter paradigm reform tax of key reflected flow result Waters members more talent multiyear in that and as we've in expectations. shift front quality as capital product of couple depth customers. for we will we development our and capital team us exciting summary, reinforced return cash a fell of our slow short we US sales impacts in Europe, more the industrial assertively places In the I increased confidence of our first structure initiatives, our introduced past the pipeline. a in an leadership of well and additional third, QX was release deploy greater-than-expected of us well great given Second, squarely which to progress in XXXX of have management few investment Furthermore, saw enabled shareholders. global and meeting, years product and And and a more made significant China to the
and how predictive our For year is shape smallest the traditionally necessarily up. quarter not QX will of context,
drivers underway the our and guidance now in view of We new we Asian that the cautious highly-profitable review markets, business like our financials. I'd a includes while strong position, remain course expect activity of consistent such, Sherry more of product macroenvironment, model remain that, overall already growth call key revenues. recurring first growth to intact, including As an market over our in XXXX. our for Longer-term, the the do a to our strength With across and demand, portfolio XXXX. for and planned contribution deeper global robust reflects introductions pharmaceutical underlying of over improving and our Sherry? quarter a customer confident pass
