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Waters Corporation — Third Quarter 2026 Earnings Summary

  • Q3 2026 revenue reached $1.767 billion, exceeding guidance by $14 million, driven by 9% organic growth (10% constant currency) and $896 million from acquired businesses; adjusted EPS rose 21% to $4.10, while GAAP EPS declined to $0.82 due to acquisition-related charges and restructuring.
  • Full-year 2026 guidance was raised across the board, including organic constant currency revenue growth to 9.1%–9.7%, total reported revenue to $6.479 billion–$6.497 billion, and adjusted EPS to $14.60–$14.70, reflecting strong momentum in Q4 with expected double-digit days-adjusted growth.
  • Strategic expansion continues with the closed acquisition of Biosciences and Diagnostic Solutions from BDX (contributing $896 million in Q3) and the recent acquisition of MOBILion Systems to enhance proteomics capabilities, though total debt increased to $5.133 billion.
  • Growth was led by the Analytical Sciences Division (8% reported growth) and Biosciences Division, fueled by instrument replacement trends and demand for GLP-1s, PFAS, and India generics, with management citing accelerating end-market conditions and successful synergy integration.
Company
WATERS CORP
Sector
Healthcare
Industry
Diagnostics & Research