The broad-based beat and raised guidance across all components signal accelerating end-market recovery and successful BDS integration. Traders should watch for continued execution against the raised Q3 guidance (8-10% organic CC growth) and monitor any FX headwinds. The strong momentum and raised outlook support a positive near-term bias.
Price Chart
Executive Summary
Waters Corporation reported Q2 2026 revenue of $1.645B, surpassing guidance, with organic constant-currency growth of 9% and acquired BDS businesses growing 4% on a comparable basis. Adjusted EPS of $3.05 grew 3% YoY and landed at the high end of guidance. The company raised all components of full-year 2026 guidance, including organic constant-currency growth to 7-9% and adjusted EPS to $14.45-$14.65 (10-12% growth). The strong beat and raised guidance reflect broad-based end-market recovery and successful integration of the BDS acquisition, making this a significant positive catalyst for the stock.
Key Financial Metrics
Key Facts
- Q2 2026 total reported revenue of $1.645B, surpassing the high end of guidance.
- Organic constant-currency revenue grew 9% YoY, driven by 8% instrument growth and double-digit chemistry consumables growth in ASD.
- Adjusted EPS of $3.05 grew 3% YoY and landed at the high end of guidance.
- Full-year 2026 organic constant-currency revenue growth guidance raised to 7-9% (from prior).
- Full-year 2026 adjusted EPS guidance raised to $14.45-$14.65, representing 10-12% YoY growth.
- Acquired BDS businesses contributed $817M in revenue, growing 4% on a prior-year comparable basis.
- GAAP net loss of ($136M) or ($1.39) per share due to $399M in acquisition-related purchase accounting charges.
- Q3 2026 guidance: organic constant-currency revenue growth of 8-10%, adjusted EPS of $3.95-$4.05 (16-19% YoY growth).
Financial Impact
Revenue beat guidance by exceeding the high end; full-year revenue guidance raised to $6.415B-$6.476B; adjusted EPS guidance raised to $14.45-$14.65 (10-12% growth).
Risk Factors
- Integration risks from the large BDS acquisition (purchase accounting charges of $399M in Q2).
- Foreign exchange translation headwinds (2% drag on organic revenue growth in Q2, 0.6% expected for full year).
- Execution risk on achieving the raised guidance amid uncertain macro conditions.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-prn-302841670 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 21, 2026 6w ago | 8-K | $410.70 $423.92 | ▲ +3.22% | ▲ +2.20% | $429.05 (+4.47%) |
Aug 4, 2026 8w ago | Press Release | $396.08 $405.84 | ▲ +2.46% | ▲ +3.70% | $429.05 (+8.33%) |
Jun 25, 2026 14w ago | Institutional Cluster | $376.89 $382.41 | ▲ +1.46% | ▲ +0.94% | $429.05 (+13.84%) |
May 5, 2026 21w ago | 8-K | $342.75 $371.93 | ▲ +8.51% | ▲ +3.56% | $429.05 (+25.18%) |
US Market Status
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