Waters Corp Beats Q1 Estimates, Raises Full-Year Revenue & EPS Guidance on Strong Organic Growth and Acquired Business Performance

summarizeSummary

Waters Corporation announced strong first-quarter results, beating adjusted EPS and revenue estimates, and subsequently raised its full-year 2026 financial guidance.

check_boxKey Events

• Q1 Financial Outperformance

  Waters Corporation reported first-quarter 2026 adjusted EPS of $2.70, surpassing analyst estimates, and total reported revenue of $1.267 billion, which exceeded the high end of guidance by $56 million.

• Strong Organic Revenue Growth

  Organic revenue grew 13% as reported and 11% in constant currency, exceeding the high end of constant currency growth guidance by 200 basis points, driven by high-single-digit instrument growth and mid-teens chemistry growth.

• Acquired Businesses Exceed Expectations

  The Biosciences and Diagnostic Solutions businesses, acquired on February 9, 2026, generated $520 million in reported revenue since the acquisition close, outperforming guidance by $40 million in their first reporting period under Waters' ownership.

• Raised Full-Year 2026 Guidance

  The company raised its full-year 2026 organic constant currency revenue growth guidance to 6.5% to 8.0% and increased its adjusted EPS guidance to a range of $14.40 to $14.60, reflecting double-digit adjusted EPS growth.

auto_awesomeAnalysis

Waters Corporation reported robust first-quarter results, with adjusted EPS of $2.70 significantly surpassing analyst estimates and total revenue exceeding the high end of its guidance range. This strong performance was driven by exceptional organic revenue growth and better-than-expected contributions from the recently acquired Biosciences and Diagnostic Solutions businesses, marking a successful initial integration period for the significant acquisition. The company's decision to raise its full-year 2026 revenue and adjusted EPS guidance signals increased confidence in sustained momentum and operational execution, providing a positive outlook for investors.