WAT · Earnings call · 2026Q2T · Full report

Revenue Performance and Mix

WATERS CORP /DE/ · 2026-08-04 · Importance 49 · Surprise 32 · In source text

Second-quarter total reported revenue was $1.645 billion, comprising $828 million of organic revenue and $817 million from Biosciences and Diagnostic Solutions. Organic revenue increased 7% reported and 9% in constant currency, while acquired-business revenue grew 4% reported year over year. Analytical Sciences revenue rose 7% reported, Biosciences rose 3%, Advanced Diagnostics rose 7%, and Materials Science rose 6%. Analytical Sciences mix was led by instruments up 8%, chemistry up 10%, and service up 9%, while pharma grew 11% and non-pharma grew 4%.

Key facts

• Molecular Diagnostics and Point of Care reported revenue was $129 million in Q2 2026, reflecting 9% growth driven by HPV testing placements on BD COR
• Total company as reported Q2 2026 revenue: $1.645 billion
• Q2 2026 organic revenue: $828 million
• Q2 2026 Waters Bioscience and Diagnostic Solutions revenue: $817 million
• Advanced Diagnostics Diagnostic Solutions delivered $449 million of as reported revenue in Q2 2026, representing 5% growth
• Analytical Sciences placed approximately $10 million of mass spec instruments into pharma DMPK settings in the quarter
• Microbiology reported revenue was $319 million in Q2 2026, reflecting 4% growth; growth outside China was 6% while China declined 13%
• Clinical Business Unit delivered $72 million of revenue in Q2 2026, up 15% as reported and 14% in constant currency

Impact estimates