Waters Corporation Q1 2026 Earnings Recap

Waters Corporation’s shares gained 15.8% as the company delivered better-than-expected organic growth, strong revenue from newly acquired businesses, and a significant 20% increase in adjusted EPS, reassuring investors on the successful integration and growth prospects.

Key Takeaways

• Total revenue reached $1.267 billion, with $747 million organic and $520 million from the Biosciences and Diagnostic Solutions acquisition.
• Organic revenue grew 13% reported (11% constant currency), surpassing the high end of guidance by ~200 basis points.
• Biosciences and Diagnostic Solutions combined revenue outperformed guidance by $40 million, with reported growth of 7% since acquisition close.
• Adjusted EPS rose 20% year-over-year to $2.70, beating the high end of guidance by $0.35.
• Analytical Sciences delivered 12% organic growth (constant currency), while Advanced Diagnostics and Material Sciences showed mid-single to low-double digit gains despite macro challenges and China-related constraints.