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Sentiment · FY2026 Q2
As of FY2026 Q1, the Tellvest earnings-call sentiment score for Waters Corporation (WAT) is 9/10.
Waters delivered exceptional Q1 with total company revenue of $1.267B as organic revenue grew 13% reported and 11% in constant currency, driven by the BD acquisition integration exceeding expectations. Adjusted EPS grew 20% to $2.70 while management raised full-year guidance by $0.10 to EPS $14.40-$14.60 and organic constant currency growth to 6.5-8%. Chemistry and bioseparations product leadership continued with cross-selling momentum from the acquisition, though China market constraints partially offset by localization efforts and respiratory testing created a headwind in diagnostics.
Scored from Waters Corporation’s FY2026 Q1 earnings call. The newest quarter is available with Tellvest Pro.
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $873M | +6.5% | $3.88 | +6.3% | 60.1% | 33.5% | 26.5% | $188M |
| FY2025 Q1 | $662M | +3.9% | $2.03 | +18.0% | 58.2% | 22.9% | 18.3% | $234M |
| FY2025 Q2 | $771M | +8.9% | $2.47 | +2.9% | 58.3% | 24.4% | 19.1% | $19M |
| FY2025 Q3 | $800M | +8.0% | $2.50 | -7.7% | 59.0% | 24.0% | 18.6% | $162M |
| FY2025 Q4 | $932M | +6.8% | $3.77 | -2.8% | 59.8% | 33.3% | 24.2% | $126M |
| FY2026 Q1 | $1.27B | +91.5% | $-0.87 | -142.9% | 47.0% | -3.7% | -5.7% | $-42M |
| FY2026 Q2 | $1.65B | +113.3% | $-1.39 | -156.3% | 44.6% | -5.2% | -8.3% | $151M |
On August 17, 2026, Robert L. Carpio III notified Waters Corporation of his resignation as Senior Vice President, Waters Analytical Sciences Division, to pursue other opportunities, relinquishing his duties effective August 20, 2026. Tina Wu, currently SVP, Waters Materials Sciences Division and President, China, will assume the Analytical Sciences Division role. Wu joined Waters in June 2026 after more than two decades at DuPont.