Waters Corporation

Latest Results (30.08.2026):

Waters Corporation reported results for the second quarter of 2026: total reported revenue of $1.645 billion (organic $828 million; acquired Biosciences & Diagnostic Solutions $817 million), GAAP diluted loss per share of ($1.39) and adjusted EPS of $3.05, and the company raised its full-year 2026 guidance across revenue and adjusted EPS after broad-based outperformance and positive integration momentum.

Revenue

Total reported revenue was $1.645 billion for the second quarter of 2026, with $828 million of organic revenue and $817 million from the recently acquired Biosciences & Diagnostic Solutions businesses.

Organic growth

Organic revenue rose 7% as reported and 9% in constant currency versus the prior-year quarter; ASD instruments grew 8% in constant currency (ASD instrument revenue $240 million, +5% reported).

Acquisition & divisional performance

Biosciences & Diagnostic Solutions revenue was $817 million (prior-year comparable +4%); by division: ASD $669 million, Biosciences Division $368 million, Advanced Diagnostics $521 million (Diagnostic Solutions $449 million; Clinical $72 million), MSD $87 million.

Profitability (GAAP vs. Adjusted)

GAAP diluted EPS was a loss of ($1.39), driven largely by acquisition-related purchase accounting (inventory step-up and amortization). Adjusted EPS was $3.05, up 3% year-over-year and at the high end of guidance.

Guidance raised

Waters raised full-year 2026 guidance: organic constant-currency revenue growth now 7.0%–9.0%; acquired business reported revenue ~ $3.045 billion; total reported revenue $6.415–6.476 billion; adjusted EPS $14.45–14.65 (10%–12% growth). Q3 2026 guidance: organic constant-currency growth 8%–10%, total reported revenue $1.745–1.762 billion, adjusted EPS $3.95–4.05.

Acquisition accounting impacts

Acquisition-related non-cash items materially affected GAAP results this quarter: $155 million of purchase accounting adjustments in cost of revenue and $244 million of purchased intangibles amortization included in three-month results.

Balance sheet & cash flow

Post-acquisition balance sheet (July 4, 2026) shows total assets $24.75 billion, total liabilities $9.56 billion, and stockholders’ equity $15.20 billion; GAAP net cash from operations was $200 million for the quarter and adjusted free cash flow was $202 million.