WAT · Earnings call · 2026Q2T · Full report

Trade Policy and Tariffs

WATERS CORP /DE/ · 2026-08-04 · Importance 40 · Surprise 42

Waters said it neutralized the profit-and-loss impact of tariffs by early October 2025 through customer surcharges. Management does not assume a net benefit from potential tariff refunds because refunds would require the company to reverse some of the surcharges charged to customers. The expected net effect of future tariff refunds is therefore neutral, and no tariff-related EPS upside is embedded in the guidance.