WAT · 8-K · 20261103PR444400

Operating Margin Drivers

WATERS CORP /DE/ · 2026-11-03 · Importance 63 · Surprise 64

Third-quarter GAAP operating income was $128 million, or 7.2% of revenue, compared with $192 million and a 24.0% margin in the prior-year quarter. Adjusted operating income was $532 million, or 30.1% of revenue, versus $242 million and a 30.3% margin a year earlier. The current-quarter reconciliation added back $323 million for purchased-intangible amortization and acquisition-related fair-value step-ups, $54 million of acquisition-related costs, and $20 million of restructuring and other costs. GAAP net income was $81 million and diluted EPS was $0.82, while adjusted net income was $404 million and adjusted EPS was $4.10.

Key facts

• Third-quarter 2026 GAAP operating income was $128 million, or 7.2% of revenue; adjusted operating income was $532 million, or 30.1%. source