#United States #financial results #Milford #Waters Corporation #Becton Dickinson

Waters Corporation Reports Financial Results for Q1 2026

On May 5, 2026, Waters Corporation (NYSE: WAT) revealed its financial results for the first quarter of 2026, showcasing a remarkable performance that exceeded expectations. This report is significant as it incorporates the revenues from the Biosciences and Diagnostic Solutions business acquired from Becton, Dickinson and Company on February 9, 2026.

Financial Performance Overview

During Q1 2026, Waters achieved a total reported revenue of $1.267 billion, which was $56 million above the high end of its guidance range. This strong performance can be attributed to both substantial organic growth and successful integration of the recently acquired business. Of the total revenue, $747 million was generated through organic channels, representing a growth rate of 13% as reported, and 11% when adjusted for constant currency. This organic growth was largely driven by high single-digit increases in instrument sales and significant double-digit growth (mid-teens) in the Analytical Sciences Division's chemistry segment.

The newly acquired Biosciences and Diagnostic Solutions business contributed $520 million in revenue, exceeding initial projections by $40 million. This strong showing was due to effective commercial execution and the implementation of operational improvement initiatives during the quarter.

Despite these positive indicators, the company reported a GAAP loss per share of $0.87 for the quarter, compared to a profit of $2.03 per share in the same period last year. However, the adjusted EPS came in at $2.70, marking a 20% increase year-on-year, driven by better-than-expected revenue and margin performance.

Operational Insights

Dr. Udit Batra, President and CEO of Waters Corporation, expressed enthusiasm regarding the quarter's results, emphasizing the success in integrating the new businesses. He highlighted that significant improvements in growth rates were evident in the Biosciences and Advanced Diagnostics Divisions, aided by enhanced operational execution and collaboration across the divisions. With a keen focus on upcoming product launches and firm execution disciplines, Waters is positioned to realize revenue synergies effectively.

The company has amended its full-year 2026 organic revenue growth guidance to a range of 6.5% to 8.0%, and it anticipates that the acquired businesses will generate approximately $3.035 billion in reported revenue for the year. Furthermore, the adjusted EPS guidance for the year has been raised to between $14.40 and $14.60, reflecting a robust projected year-over-year growth.

In terms of segment performance, the Analytical Sciences Division delivered revenues of $607 million for the quarter, up from $534 million from the previous year. The Biosciences Division contributed $232 million, while the Advanced Diagnostics Division recorded $349 million in revenue, showing significant improvements in quarter-over-quarter performance.

Looking Ahead

As the company looks forward, it remains committed to executing a seamless integration of its operations and advancing its growth strategy. By focusing on innovation and building a substantially differentiated portfolio, Waters aims to create sustained success in the competitive landscape of analytical instruments and life sciences.

The company has scheduled a conference call to discuss these financial results and build upon their strategic initiatives at 8:30 a.m. ET on May 5, 2026. Stakeholders and investors are encouraged to tune into the web broadcast for further insights into Waters Corporation's performance and future outlook.

In summary, Waters Corporation’s first quarter of 2026 stands as a testament to its robust growth strategy and operational excellence, positioning the company for a promising year ahead in the analytical sciences and life sciences sectors.