WAT · Earnings call · 2026Q2T · Full report
Liquidity and Cash Position
WATERS CORP /DE/ · 2026-08-04 · Importance 20 · Surprise 24 · Contradicted
Second-quarter free cash flow was $202 million after approximately $21 million of severance payments and $27 million of integration-cost payments. Net cash settlement due to BD orders was $157 million at the end of June. Net interest expense was $55 million in the quarter, and full-year 2026 net interest expense guidance was approximately $190 million. The transcript did not disclose a period-end cash balance or total debt balance.
Key facts
- Net interest expense for full year 2026 now expected to be approximately $190 million
- At the end of June 2026, net cash settlement due to orders from BD was $157 million
- Q2 2026 free cash flow: $202 million after approximately $21 million in severance payments and $27 million of integration cost payments
- Q2 2026 net interest expense: $55 million
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| net_income | negative | committed | — | Net interest expense for full year 2026 now expected to be approximately $190 million |