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Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
| Analyst | Firm | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Puneet Souda | Leerink Partners | 14 questions · 7% challenging |
| Tycho Peterson | Jefferies | 14 questions · 21% challenging |
| Catherine Schulte | Robert W. Baird | 10 questions · 40% challenging |
| Jack Meehan | Operon Research | 10 questions · 0% challenging |
| Vijay Kumar | Evercore ISI | 8 questions · 0% challenging |
| Dan Arias | Stifel | 6 questions · 17% challenging |
| Dan Brennan | TD Cowen | 5 questions · 0% challenging |
| Brandon Couillard | Wells Fargo | 5 questions · 0% challenging |
| Evie Koslosky | Goldman Sachs | 4 questions · 0% challenging |
| Matt Sykes | Goldman Sachs | 4 questions · 0% challenging |
| Firm | Analysts | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Leerink Partners | 1 analyst | 14 questions · 7% challenging |
| Jefferies | 1 analyst | 14 questions · 21% challenging |
| Robert W. Baird | 1 analyst | 10 questions · 40% challenging |
| Operon Research | 1 analyst | 10 questions · 0% challenging |
| Evercore ISI | 1 analyst | 8 questions · 0% challenging |
| Goldman Sachs | 2 analysts | 8 questions · 0% challenging |
| Stifel | 1 analyst | 6 questions · 17% challenging |
| Wells Fargo | 1 analyst | 5 questions · 0% challenging |
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.
Demand | M&A | Guidance Reliability | Revenue Growth | Geographic Expansion | Trade Tariffs | Competitive Dynamics | Macroeconomic | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 12 | 1 | 3 | 2 | 2 | 2 | 3 | |
| 2025Q1 | 11 | 2 | 2 | 1 | 2 | 6 | 1 | 2 |
| 2025Q2 | 7 | 4 | 2 | 3 | 3 | 3 | 2 | 1 |
| 2025Q3 | 7 | 2 | 5 | 3 | 2 | 1 | ||
| 2025Q4 | 2 | 8 | 4 | 2 | ||||
| 2026Q1 | 3 | 4 | 1 | 5 | 1 | 3 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 12 | 11 | 7 | 7 | 2 | 3 |
| M&A | 1 | 2 | 4 | 2 | 8 | 4 |
| Guidance Reliability | 3 | 2 | 2 | 5 | 4 | 1 |
| Revenue Growth | 2 | 1 | 3 | 3 | 2 | 5 |
| Geographic Expansion | 2 | 2 | 3 | 2 | 1 | |
| Trade Tariffs | 6 | 3 | ||||
| Competitive Dynamics | 2 | 1 | 2 | 3 | ||
| Macroeconomic | 3 | 2 | 1 | 1 |
What WAT and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“the spin-off of our Life Sciences business in combination with Waters, which is now accounted for as discontinued operations.”
BD spun off its Life Sciences business to combine with Waters (closed ahead of schedule), adding those assets to Waters, a completed M&A signal for Waters.
“The Biosciences division, which represents the former BD Biosciences business delivered as reported revenue of $232 million”
Waters' newly acquired former BD Biosciences business generated $232 million in the quarter; Waters carved out BD's Biosciences and Diagnostic Solutions units and reports early performance improvement under its ownership.
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Calendar quarter Q1 2026Earnings call May 5, 2026
FY2026 Q1 in brief
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.
Newest quarter FY2026 Q2 is part of Pro · see what Pro adds →
Sources. Tellvest earnings-call sentiment score for Waters Corporation (WAT), FY2026 Q1: 9/10. Scores: Waters Corporation’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: WAT daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
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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 Q1Selected | $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 |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
GAAP revenue YoY +91.5% → base 8. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
WAT Waters Corporation | 9 | +91.5% | |
| A Agilent Technologies | 6 | +7.0% | |
| CRL Charles River Laboratories | 4 | +1.2% | |
| DGX Quest Diagnostics | 9 | +9.2% | |
| DHR Danaher Corporation | 7 | +3.7% | |
| IDXX Idexx Laboratories | 8 | +14.3% | |
| ILMN Illumina, Inc. | 8 | +4.8% | |
| IQV IQVIA | 7 | +8.4% | |
| LH LabCorp | 8 | +5.8% | |
| MTD Mettler Toledo | 7 | +7.2% | |
| RVTY Revvity | 5 | +7.0% | |
| TMO Thermo Fisher Scientific | 7 | +6.2% |