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Waters Corporation Delivers Impressive 2025 Financial Results

Waters Corporation (NYSE: WAT) reported its financial performance for the fourth quarter and full-year 2025, revealing substantial growth across various sectors, especially within the pharmaceutical and industrial markets. The firm has showcased an impressive sales achievement of $932 million for the fourth quarter, reflecting a 7% growth compared to the previous quarter while maintaining a 6% increase when adjusted for constant currency. This aligns with the high-end of their established sales growth guidance.

Sales Performance

In more detail, the pharmaceutical sector contributed notably, with an increase of 8% in reported sales and 7% in constant currency. Similarly, sales in the industrial markets recorded comparable improvements, further emphasizing the demand across geographies. These numbers reflect a well-rounded growth strategy, with gains felt uniformly across all operational regions.

The performance of the company's chemistry segment was particularly noteworthy, recording a 12% growth in constant currency due to strong demand for new bioproducts. Instruments represented a modest but steady growth at 3%, balancing challenges faced due to the transition to a subscription model associated with the Empower software and slightly lower performance in other areas.

Continued Success and Future Outlook

For the full fiscal year 2025, Waters Corporation reported revenues totaling $3.165 billion, marking a strong 7% year-over-year increase, with optics towards a promising future. The recurring revenue component experienced an 8% increase, showcasing the strength of Waters' business model anchored in service and precision chemistry.

Notably, the earnings per share (EPS) highlighted strong financial health. The GAAP EPS reached $10.76, while the non-GAAP EPS grew by 11%, reaching $13.13. This growth trajectory positions Waters favorably against market competitors.

As emphasized by Udit Batra, Ph.D., President and CEO of Waters Corporation, the company is well-positioned to continue this momentum into 2026. The acquisition of BD Biosciences and Diagnostic Solutions, set to close imminently, is seen as a transformative step that enhances Waters' capabilities and commercial strategies. This acquisition is expected to integrate seamlessly with Waters' existing operations, thus expanding their market opportunities.

Geographic Breakdown

Geographically, the fourth-quarter sales figures reveal strong international performance, with sales in Asia showing a 4% increase as reported and a robust 11% in constant currency. The Americas and Europe also contributed positively, with 4% growth reported in both regions overall. This diverse geographic footprint illustrates the broad appeal and market penetration of Waters Corporation’s offerings.

As Waters Corporation closes the transaction with BD, they anticipate strong organic constant currency revenue growth between 5.5% and 7% for the upcoming fiscal year, leveraging both existing products and newly integrated offerings.

Looking Ahead

Looking towards the first quarter of 2026, Waters expects revenue to stay robust, projecting organic constant currency growth rates between 7% and 9% with reported revenue forecasts in the range of $718 million to $731 million. These anticipated results reflect Waters Corporation's long-term growth strategies focused on innovation, efficiency, and market leadership in analytical instruments and solutions.

In conclusion, Waters Corporation's financial performance throughout 2025 exemplifies a strong commitment to growth and excellence across all sectors. As they forge ahead with new acquisitions and innovative strategies, stakeholders and customers can expect to see continued advancements and industry leadership from this global analytics powerhouse.