WAT · Earnings call · 2026Q2T · Full report
Guidance and Outlook
WATERS CORP /DE/ · 2026-08-04 · Importance 85 · Surprise 76 · Contradicted
Waters raised full-year 2026 organic constant-currency revenue growth guidance to 7%–9%, implying organic reported revenue of $3.37 billion to $3.431 billion after a 60-basis-point FX headwind. Total reported 2026 revenue is expected to be approximately $6.415 billion to $6.476 billion, with adjusted EPS of $14.45 to $14.65, representing 10%–12% year-over-year growth. Third-quarter total reported revenue guidance is $1.745 billion to $1.762 billion, including approximately $895 million from Biosciences and Diagnostic Solutions. Third-quarter adjusted EPS guidance is $3.95 to $4.05, representing 16%–19% growth.
Key facts
- Total 2026 reported revenue expected to be approximately $6.415 billion to $6.476 billion
- Q3 2026 expected revenue from Biosciences and Diagnostic Solutions: approximately $895 million; total reported Q3 2026 revenue expected $1.745 billion to $1.762 billion
- Expect Biosciences and Diagnostic Solutions 2026 reported revenue of approximately $3.045 billion, raising prior guidance by $10 million (underlying improvement $25 million offset by $15 million of FX)
- Full year 2026 adjusted EPS guidance: $14.45 to $14.65, representing year-over-year growth of 10% to 12% (12% to 14% in constant currency)
- Q3 2026 organic constant currency revenue growth expected to be 8% to 10%; organic reported revenue expected $850 million to $867 million
- Q3 2026 adjusted EPS expected $3.95 to $4.05, which is 16% to 19% growth
- Raised full year 2026 organic constant currency revenue growth guidance to 7% to 9%
- At midpoint, implied organic guidance calls for a 3.6% quarter-over-quarter step-up between Q2 and Q3 and a 12.8% step-up in Q4
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | committed | — | Total 2026 reported revenue expected to be approximately $6.415 billion to $6.476 billion |
| revenue | positive | committed | — | Q3 2026 expected revenue from Biosciences and Diagnostic Solutions: approximately $895 million; total reported Q3 2026 revenue expected… |
| net_income | positive | committed | — | Full year 2026 adjusted EPS guidance: $14.45 to $14.65, representing year-over-year growth of 10% to 12% (12% to 14% in constant currency) |
| net_income | positive | committed | — | Q3 2026 adjusted EPS expected $3.95 to $4.05, which is 16% to 19% growth |
| revenue | positive | committed | — | At midpoint, implied organic guidance calls for a 3.6% quarter-over-quarter step-up between Q2 and Q3 and a 12.8% step-up in Q4 |
| revenue | positive | committed | — | At midpoint, implied organic guidance calls for a 3.6% quarter-over-quarter step-up between Q2 and Q3 and a 12.8% step-up in Q4 |
| revenue | positive | committed | — | Raised Biosciences and Diagnostic Solutions 2026 guidance by $10 million, reflecting underlying improvement of $25 million offset by $15… |
| revenue | negative | committed | — | Raised Biosciences and Diagnostic Solutions 2026 guidance by $10 million, reflecting underlying improvement of $25 million offset by $15… |