WAT · Full Picture

WATERS CORP /DE/ — the full picture

Earnings window · 2026-07-14 to 2026-08-09

One earnings window, everything merged: the filing, the call, press releases and news digests, folded into ranked threads.

What to look at first

1. Guidance and Outlook · Guidance & outlookPriority 90
   +14.4% revenue; 3 sources (news, press_release, transcript); 8 forward row(s); quote_verified
   Total Company reported revenue guidance for full-year 2026: $6,415 million to $6,476 million.
2. Acquisition / Partnership / Divestiture · M&A and divestituresPriority 84
   +46.2% revenue; 3 sources (news, press_release, transcript); 1 forward row(s); quote_verified
   Full-year 2026 acquired business reported revenue expectation: approximately $3,045 million on an owned-period basis.
3. Revenue Performance and Mix · Revenue growth & mixPriority 83
   +240.2% revenue (realized); 3 sources (news, press_release, transcript); quote_verified
   Total reported revenue for six months ended July 4, 2026: $2,912 million, a 103% increase versus prior year.
4. Liquidity and Debt Position · Liquidity & cash positionPriority 81
   +135.3% assets (realized); 2 sources (press_release, transcript); quote_verified
   Notes payable and debt at July 4, 2026: $5,086 million; at December 31, 2025: $1,407 million.
5. Operating Margin Drivers · UnclassifiedPriority 80
   -16.7% operating_income (realized); 2 sources (press_release, transcript); 1 forward row(s); quote_verified
   Operating (loss) income GAAP for three months ended July 4, 2026: ($86) million; operating (loss) income for three months ended June 28, 2025: $188 million.
6. Operating Expense Trends · Operating expenses (SG&A)Priority 73
   -73.9% operating_income (realized); quote_verified
   GAAP cost of revenue for three months ended July 4, 2026: $911 million; for three months ended June 28, 2025: $321 million.
7. Geographic Revenue Shift · Geographic mixPriority 69
   +100.0% revenue (realized); quote_verified
   Revenue by geography for Q2 2026: Asia $450 million, Americas $690 million, Europe $505 million.
8. Acquisition Integration and Synergies · M&A and divestituresPriority 62
   1 forward row(s); quote_verified
   Expect to deliver $50 million of revenue synergies in 2026
9. Headcount / Restructuring · Restructuring & impairmentPriority 56
   2 sources (press_release, transcript); 2 forward row(s); quote_verified
   Completed planned restructuring actions communicated to people with dates set, contributing to $200 million run rate and $50 million Q4 benefit largely in hand
10. Pharma Reshoring Opportunity · UnclassifiedPriority 52
    2 forward row(s); quote_verified
    Tracking 76 expansion sites linked to U.S. pharma investment announcements, roughly half under active construction representing approximately $100 billion in CapEx spend
11. Cost Reduction Program · Input & product costsPriority 50
    2 forward row(s); quote_verified
    Completed planned cost actions for 2026 delivering $75 million in cumulative cost savings expected in 2026
12. Geographic Revenue Performance · UnclassifiedPriority 50
    quote_verified
    Q2 2026 Americas as-reported revenue: $690 million; Europe: $505 million; Asia: $450 million (total company as reported by geography)

Threads by pillar

Revenue & Demand Priority 89 · 9 threads

• Revenue Performance and MixPriority 83 · News, Release, Call
• Geographic Revenue ShiftPriority 69 · Release
• Geographic Market CommentaryPriority 22 · News
• Market Demand TrendsPriority 50 · News, Release, Call
• Pharma Reshoring DemandPriority 40 · Call
• GLP-1 Testing DemandPriority 31 · Call
• Product Launch and TransitionPriority 35 · Call
• Products and TechnologyPriority 25 · Release
• Pricing and Contract CompliancePriority 35 · Call

Costs & Margins Priority 83 · 6 threads

• Operating Expense TrendsPriority 73 · Release
• Headcount / RestructuringPriority 56 · Release, Call
• Cost Reduction ProgramPriority 50 · Call
• Operating Margin DriversPriority 42 · News
• Supply Chain LocalizationPriority 36 · Call
• Gross Margin DriversPriority 30 · Call

Capital & Balance Sheet Priority 83 · 2 threads

• Liquidity and Debt PositionPriority 81 · Release, Call
• Income Tax Rate ChangesPriority 38 · Release, Call

Strategy & Portfolio Priority 86 · 2 threads

• Acquisition / Partnership / DivestiturePriority 84 · News, Release, Call
• Acquisition Integration and SynergiesPriority 62 · Call

Legal, Regulatory & Policy Priority 51 · 3 threads

• Regulatory Approval MilestonesPriority 44 · Call
• China Regulatory and Export ConstraintsPriority 31 · Call
• Trade Policy and TariffsPriority 31 · Call

Guidance & Outlook Priority 90 · 1 thread

• Guidance and OutlookPriority 90 · News, Release, Call

Macro & Market Conditions Priority 47 · 2 threads

• FX / Currency HeadwindsPriority 43 · News, Release, Call
• Competition and Market SharePriority 36 · Call

Unclassified Priority 89 · 5 threads

• Operating Margin DriversPriority 80 · Release, Call
• Pharma Reshoring OpportunityPriority 52 · Call
• Geographic Revenue PerformancePriority 50 · Call
• Capital Expenditures and Free Cash FlowPriority 42 · Release
• Diagnostics Replacement OpportunityPriority 41 · Call

Expected impact by metric