Waters Corporation Beats Q2 Guidance Amid Broad Market Recovery

The Milford-based firm reported organic revenue of $828 million, a 7% increase as reported and 9% in constant currency. This growth was bolstered by an 8% rise in instrument sales within its Analytical Sciences Division, alongside double-digit growth in chemistry consumables. Meanwhile, the newly acquired Biosciences and Diagnostic Solutions segment contributed $817 million, surpassing internal forecasts by $15 million.

While GAAP results reflected a net loss of $1.39 per share due to acquisition-related accounting charges, adjusted earnings per share reached $3.05, hitting the high end of the company's guidance. CEO Udit Batra noted that the integration of the Biosciences and Diagnostic Solutions businesses is gaining momentum, with end markets broadening as previously lagging customer segments return to growth. Bolstered by these results, Waters now projects full-year 2026 adjusted EPS between $14.45 and $14.65, representing 10–12% growth over the prior year.