AI Earnings Predictions for Waters Corporation (WAT)

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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

8-K

WATERS CORP /DE/ NYSE false 0001000697 0001000697 2026-02-09 2026-02-09

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 9, 2026

Waters Corporation (Exact Name of Registrant as Specified in its Charter)

Delaware

001-14010

13-3668640

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.) 34 Maple Street Milford, Massachusetts 01757 (Address of Principal Executive Offices) (Zip Code) (508) 478-2000 (Registrant’s telephone number, including area code) N/A (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common stock, par value $0.01 per share

WAT

New York Stock Exchange, Inc. Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition

On February 9, 2026, Waters Corporation announced its results of operations for the quarter and year ended December 31, 2025. A copy of the related press release is furnished as Exhibit 99.1 to this Form 8-K. The information contained in Item 2.02 of this Form 8-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits

Exhibits

99.1

Waters Corporation press release dated February 9, 2026, for the quarter and year ended December 31, 2025.

104

Cover page Interactive Date File (embedded within the Inline XBRL document).

Signatures Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

WATERS CORPORATION

Dated: February 9, 2026

By:

/s/ Amol Chaubal

Name:

Amol Chaubal

Title:

Senior Vice President and Chief Financial Officer

(Principal Financial Officer and Principal Accounting Officer)