WAT · Earnings call · 2026Q2T · Full report

GLP-1 Testing Growth

WATERS CORP /DE/ · 2026-08-04 · Importance 54 · Surprise 74

GLP-1 testing revenue grew more than 40% in the second quarter of 2026. Growth exceeded 30% in the Americas, exceeded 36% in Europe, and nearly doubled in India. GLP-1 testing contributed roughly 30 basis points of the approximately 200 basis points expected from Waters’ idiosyncratic growth drivers. Management said instrument and chemistry pipeline activity remained healthy and GLP-1 demand was running ahead of prior underwriting.

Key facts

• GLP-1 testing grew over 40% in Q2 2026; Americas over 30%, Europe over 36%, India almost doubled
• GLP-1 contribution was roughly 30 basis points of the expected ~200 basis points idiosyncratic growth drivers