Waters Corporation · WAT · Next earnings

Waters Corporation reports Tuesday, Nov 3, 2026

WAT reports before market open with consensus EPS at $4.01 and revenue at $1.75B. Last quarter: Waters Q1 Beats on 13% Organic Growth, Raises Full-Year Guidance

Reports Before market open44 days awayDate estimated Healthcare

What the street expects

Consensus for the coming report
Consensus EPS $4.01 Calendar consensus
Consensus revenue $1.75B Calendar consensus
Report date Nov 3, 2026 Tuesday, date estimated
Session Before market open 44 days away

Where WAT left off: FY2026 Q1

Full report

Waters Q1 Beats on 13% Organic Growth, Raises Full-Year Guidance

EPS surprise +16.9% Reported $2.70 vs $2.31
Revenue surprise +5.3% Reported $1.27B vs $1.20B
Stock move +13.5% Event window
Subsequent drift +10.8% Up to 20 sessions

Full-year organic revenue growth raised to 6.5-8% from the prior ~5.3% target. Adjusted EPS guidance raised to $14.40-$14.60 from $14.30-$14.50. Adjusted operating margin target maintained at 28.1%. Combined synergy targets of $55M cost and $50M revenue maintained, with $35M of revenue synergies already realized in Q1.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • $20M respiratory testing headwind projected
  • China DRG reimbursement changes and export-control constraints affecting diagnostics and flow cytometry
  • Tariff, freight, and raw-material cost inflation pressures
  • Integration and cultural alignment challenges from the BD acquisition
  • Uncertainty around the timing of LC/MS instrument replacement cycles

Questions analysts left open

  • Details on the composition of the $35M revenue synergies already realized
  • Timeline and measurable impact of pricing actions and deal-desk rollout
  • Whether China localization can effectively offset export-control constraints
  • Sustainability of chemistry growth rates and mid-term margin expansion path
  • Timing of the LC/MS instrument replacement peak and implications for 2026-2027

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Recent WAT quarters

All WAT earnings
+13.5%FY2026 Q1

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q1

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.