Waters Corp Beats Q1 Estimates, Raises Full-Year Revenue & EPS Guidance on Strong Organic Growth and Acquired Business Performance
Summary
Waters Corporation announced strong first-quarter results, beating adjusted EPS and revenue estimates, and subsequently raised its full-year 2026 financial guidance.
Key Events
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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.
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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.
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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.
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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.
Analysis
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.
At the time of this filing, WAT was trading at $311.00 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $29.6B. The 52-week trading range was $275.05 to $414.15. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.