AI Earnings Predictions for Waters Corporation (WAT)

EX-99.1

2 d22941dex991.htm

EX-99.1

EX-99.1

Exhibit 99.1

For Immediate Release

Contact: Caspar Tudor, Head of Investor Relations – (508) 482-3448

Waters Corporation (NYSE: WAT) Reports Third Quarter 2026 Financial Results

Company to Provide Starting 2027 Growth Framework on Earnings Conference Call

Third Quarter 2026 Highlights

•

Total reported revenue of $1.767 billion exceeded guidance midpoint by $14 million, led by organic revenue growth of 9% as reported and 10% in constant currency, with acquired business revenue landing slightly ahead of guidance.

•

GAAP EPS of $0.82; Adjusted EPS of $4.10 grew 21% and exceeded guidance.

•

Analytical Sciences Division (ASD) grew 8% as reported and 9% in constant currency, led by double-digit instrument and chemistry growth from strong execution, new product innovation, and rising customer testing volume.

•

In the Biosciences Division (WBD), reagents grew high single-digits on a prior year comparable basis, reflecting a 400bps acceleration in year-over-year growth, as research and clinical reagents both grew high single-digits; In the Advanced Diagnostics Division (ADx), microbiology grew mid-single-digits on a prior year comparable basis.

•

The Company is raising every component of its full-year 2026 guidance, including a $43 million increase

to total reported revenue at the midpoint, as new growth vectors layer onto a strong foundation of existing demand.

MILFORD,

Mass., November 3, 2026 - Waters Corporation (NYSE: WAT) today announced its financial results for the third quarter of 2026.

Overall Financial Results

The Company’s reported revenue for the third quarter of 2026 was $1.767 billion, reflecting $871 million of organic revenue and $896 million of revenue from the acquired Biosciences and Diagnostic Solutions businesses.

Organic revenue for the third quarter of 2026 was $871 million, compared to $800 million for the third quarter of 2025, representing an increase of 9% as reported and 10% in constant currency.

Revenue from Biosciences and Diagnostic Solutions was $896 million for the third quarter of 2026, compared to $885 million on a prior year comparable basis.

On a GAAP basis, the Company reported a diluted earnings per share of $0.82 for the third quarter of 2026, compared to diluted EPS of $2.50 for the third quarter of 2025, reflecting acquisition-related purchase accounting charges, acquisition-related costs, and restructuring costs.

Adjusted EPS for the third quarter of 2026 grew 21% to $4.10, compared to $3.40 for the third quarter of 2025.

“Our team delivered exceptional results led by best-in-class consumables growth across both our Analytical Sciences and Biosciences divisions, as strong execution, new product innovation, and rising customer testing volume accelerated growth,” said Dr. Udit Batra, President & Chief Executive Officer, Waters Corporation. “LC-MS instrument growth also strengthened, growing double-digits in constant currency, driven by robust instrument replacement trends, idiosyncratic growth drivers across GLP-1s, PFAS and India generics, and we continued to outperform the market with our leading solutions for complex biologics.”

Dr. Batra continued, “Thanks to the hard work of our teams, we are delivering ahead of schedule on our synergy and integration commitments for our acquired businesses. With improving end market conditions and momentum accelerating across the combined company, we are raising our full year 2026 revenue guidance by $43 million at the midpoint and our fourth quarter guidance calls for double digit growth in both our organic and acquired businesses on a days adjusted basis.”

Analytical Sciences Division (ASD)

The Analytical Sciences Division – the former Waters Division, excluding the Clinical Business Unit –

delivered reported revenue of $703 million in the quarter, compared to $649 million for the third quarter of 2025.

Biosciences Division

(WBD)

The Biosciences Division – formerly known as BD Biosciences – delivered reported revenue of $396 million in the quarter,

compared to $387 million for the prior year comparable period.

Advanced Diagnostics Division (ADx)

The Advanced Diagnostics Division comprises the former BD Diagnostic Solutions business and the Clinical Business Unit previously reported within Waters Division.

The Diagnostic Solutions business delivered reported revenue of $500 million in the quarter, compared to $498 million for the prior year comparable period. The Clinical Business Unit delivered reported revenue of $75 million in the quarter, compared to $64 million for the third quarter of 2025.

Materials Sciences Division (MSD)

The Materials Sciences Division – formerly known as TA Division – delivered reported revenue of $93 million in the quarter, compared to $87 million for the third quarter of 2025.

A description and reconciliation of GAAP to non-GAAP results appear in the tables below and can be found on the

Company’s website www.waters.com in the Inv

SEC.gov | Request Rate Threshold Exceeded

U.S. Securities and Exchange Commission

You’ve Exceeded the SEC’s Traffic Limit

Your request rate has exceeded the SEC’s maximum allowable requests per second. Your access to SEC.gov will be limited for 10 minutes.

Current guidelines limit each user to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. To ensure that SEC.gov remains available to all users, we reserve the right to block IP addresses that submit excessive requests.

The block will be lifted automatically by waiting 10 minutes. Continuing to exceed the SEC’s maximum allowable request rate during the time-out period will extend the duration of the time-out period. To ensure fair access for all users, please reduce the rate of your requests and visit SEC.gov again after the 10 minute time-out period has passed.

For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. For more information, contact opendata@sec.gov.

For more information, please see the SEC’s Web Site Privacy and Security Policy. Thank you for your interest in the U.S. Securities and Exchange Commission.

Reference ID: 0.e618d017.1786286857.baf3c71b

More Information

Internet Security Policy

By using this site, you are agreeing to security monitoring and auditing. For security purposes, and to ensure that the public service remains available to users, this government computer system employs programs to monitor network traffic to identify unauthorized attempts to upload or change information or to otherwise cause damage, including attempts to deny service to users.

Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. §§ 1001 and 1030).

To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. We reserve the right to block IP addresses that submit excessive requests. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests.

If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website.

Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users.

Note: We do not offer technical support for developing or debugging scripted downloading processes.

EX-99.1

2 d131836dex991.htm

EX-99.1

EX-99.1

Exhibit 99.1

For Immediate Release

Contact:   Caspar Tudor, Head of Investor Relations – (508) 482-3448

Waters Corporation (NYSE: WAT) Reports First Quarter 2026 Financial Results

First Quarter 2026 Highlights

•

Total reported revenue of $1.267 billion exceeded the high end of the guidance range by $56 million, driven by strong outperformance in both organic revenue and the acquired businesses.

•

Organic revenue grew 13% as reported and 11% in constant currency, exceeding the high end of the constant currency growth guidance range by 200 basis points – led by high-single-digit instrument growth and mid-teens chemistry growth within the Analytical Sciences Division.

•

The Biosciences and Diagnostic Solutions businesses generated $520 million of reported revenue since the closing of the acquisition – $40 million above guidance – driven by traction from commercial execution and operational improvement initiatives launched during the quarter.

•

GAAP EPS of ($0.87); Adjusted EPS of $2.70 grew 20% year-over-year, driven by better-than-expected revenue and margin performance.

•

The Company is raising its full year 2026 organic constant currency revenue growth guidance to 6.5% to 8.0% and now expects the acquired businesses to generate $3.035 billion of reported revenue in 2026. The Company is also raising its full-year 2026 adjusted EPS guidance to $14.40 to $14.60, reflecting double-digit adjusted EPS growth.

MILFORD, Mass., May 5, 2026 - Waters Corporation (NYSE: WAT), today announced its financial results for the first quarter of 2026, marking the first reporting period that includes financial results for the Biosciences and Diagnostic Solutions businesses of Becton, Dickinson and Company, which was acquired by Waters on February 9, 2026.

Overall Financial Results

The Company’s reported revenue for the first quarter of 2026 was $1.267 billion, reflecting $747 million of organic revenue and $520 million of revenue from Biosciences and Diagnostic Solutions from the transaction closing date through to the end of the quarter.

Organic revenue for the first quarter of 2026 was $747 million, compared to $662 million for the first quarter of 2025, representing an increase of 13% as reported and 11% in constant currency.

Revenue from Biosciences and Diagnostic Solutions was $520 million on an owned-period basis within the quarter, compared to $485 million on an estimated prior-year equivalent basis.

On a GAAP basis, the Company reported a diluted loss per share of $0.87 for the first quarter of 2026, compared to diluted EPS of $2.03 for the first quarter of 2025, reflecting acquisition-related purchase accounting charges including amortization of acquired intangibles and inventory step-up.

Adjusted EPS for the first quarter of 2026 grew 20% to $2.70, compared to $2.25 for the first quarter of 2025.

“Thanks to the hard work of our teams, we delivered an excellent first quarter as a combined company,” said Udit Batra, Ph.D., President & Chief Executive Officer, Waters Corporation. “Our Biosciences and Advanced Diagnostics Divisions are off to a strong start with a significant improvement in growth rates versus pre-close trends, due to increased execution discipline, a sharper focus on upcoming new product launches, and superb collaboration with our Analytical Sciences Division which has already enabled the realization of revenue synergies. In parallel, the instrument replacement cycle, success of new product launches, and our idiosyncratic growth drivers are continuing to fuel exceptional momentum in our organic revenue growth rates.”

Dr. Batra continued: “As we look ahead, we are raising our guidance to reflect the increased momentum we are seeing across our businesses. Our teams are focused on executing a seamless integration, delivering industry-leading growth, and building a highly differentiated portfolio, positioning Waters for continued success for many years to come.”

Analytical Sciences Division (ASD)

The Analytical Sciences Division – the former Waters Division, excluding the Clinical Business Unit – delivered reported revenue of $607 million in the quarter, compared to $534 million for the first quarter of 2025.

Biosciences Division (WBD)

The Biosciences Division – formerly known as BD Biosciences – delivered reported revenue of $232 million on an owned-period basis within the quarter.

Advanced Diagnostics Division (ADx)

The Advanced Diagnostics Division comprises the former BD Diagnostic Solutions business and the Clinical Business Unit previously reported within Waters Division.

The Diagnostic Solutions business delivered reported revenue of $288 million on an owned-period basis within the quarter. The Clinical Business Unit delivered reported revenue of $61 million in the quarter, compared to $53 million for the first quarter of 2025.

Materials Sciences Division (MSD)

The Materials Sciences Division – formerly known as TA Division