Waters (NYSE:WAT) Releases FY 2026 Earnings Guidance

Waters (NYSE:WAT) updated its FY 2026 earnings guidance on Tuesday. The company provided earnings per share guidance of 14.450-14.650 for the period, compared to the consensus earnings per share estimate of 14.510. The company issued revenue guidance of $6.4 billion-$6.5 billion, compared to the consensus revenue estimate of $6.4 billion. Waters also updated its Q3 2026 guidance to 3.950-4.050 EPS.

Analyst Ratings Changes

Several equities analysts have commented on WAT shares. Bank of America increased their price target on shares of Waters from $370.00 to $400.00 and gave the company a “neutral” rating in a research note on Tuesday, June 2nd. The Goldman Sachs Group upped their target price on shares of Waters from $380.00 to $425.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. UBS Group increased their target price on shares of Waters from $330.00 to $375.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Morgan Stanley lifted their price target on shares of Waters from $350.00 to $390.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Waters in a research note on Friday, July 17th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $402.47.

Waters Stock Performance

WAT traded up $14.45 during trading on Tuesday, hitting $389.19. 669,507 shares of the stock were exchanged, compared to its average volume of 1,024,501. The company has a quick ratio of 1.13, a current ratio of 1.79 and a debt-to-equity ratio of 0.32. Waters has a 1-year low of $275.05 and a 1-year high of $414.15. The stock has a fifty day moving average price of $369.92 and a two-hundred day moving average price of $344.99. The firm has a market capitalization of $38.21 billion, a P/E ratio of 49.63, a PEG ratio of 2.28 and a beta of 1.20.

Waters (NYSE:WAT) last posted its quarterly earnings data on Tuesday, August 4th. The medical instruments supplier reported $3.05 earnings per share for the quarter, beating the consensus estimate of $3.01 by $0.04. Waters had a return on equity of 15.60% and a net margin of 11.91%.Waters’s quarterly revenue was up 113.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.95 earnings per share. Waters has set its Q3 2026 guidance at 3.950-4.050 EPS and its FY 2026 guidance at 14.450-14.650 EPS. As a group, sell-side analysts predict that Waters will post 14.51 earnings per share for the current year.

Key Stories Impacting Waters

Here are the key news stories impacting Waters this week:

• Positive Sentiment: Waters reported second-quarter adjusted EPS of $3.05, above the $3.01 analyst consensus and up from $2.95 a year earlier. Revenue reached $1.645 billion, exceeding the high end of the company’s prior outlook. Waters Corporation Second Quarter 2026 Financial Results
• Positive Sentiment: Organic revenue increased 7% year over year, or 9% in constant currency. Analytical Sciences instrument revenue grew 8%, while chemistry consumables posted double-digit growth, supported by improving pharmaceutical and industrial end-market demand. The acquired Biosciences and Diagnostic Solutions businesses contributed $817 million of revenue.
• Positive Sentiment: Management raised its full-year 2026 outlook to reported revenue of approximately $6.415 billion-$6.476 billion and adjusted EPS of $14.45-$14.65. The EPS range brackets the $14.51 consensus estimate, reinforcing expectations for continued earnings growth.
• Positive Sentiment: William Blair analyst Matt Larew maintained a Buy rating, citing a broad-based recovery across end markets and potential synergies from the acquired businesses. Analyst Maintains Buy on Waters
• Neutral Sentiment: Third-quarter guidance calls for adjusted EPS of $3.95-$4.05, near the $4.01 consensus, while revenue guidance of $1.7 billion-$1.8 billion has a midpoint slightly below the $1.8 billion analyst estimate.
• Negative Sentiment: Waters recorded a GAAP net loss of $136 million, or $1.39 per diluted share, compared with a $2.47 profit a year earlier. The deterioration reflects acquisition-related effects, although adjusted results remained profitable and beat expectations.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Zions Bancorporation National Association UT grew its holdings in shares of Waters by 121.2% during the fourth quarter. Zions Bancorporation National Association UT now owns 73 shares of the medical instruments supplier’s stock worth $28,000 after buying an additional 40 shares during the last quarter. DV Equities LLC purchased a new stake in Waters during the 4th quarter valued at approximately $32,000. Itau Unibanco Holding S.A. raised its stake in Waters by 39.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 155 shares of the medical instruments supplier’s stock valued at $59,000 after acquiring an additional 44 shares during the last quarter. MUFG Securities EMEA plc acquired a new stake in Waters during the 2nd quarter worth approximately $61,000. Finally, State of Wyoming acquired a new stake in Waters during the 2nd quarter worth approximately $75,000. 94.01% of the stock is currently owned by institutional investors and hedge funds.

Waters Company Profile

Waters Corporation is a global provider of analytical instruments, software and services for laboratory and research applications. The company designs, manufactures and sells technologies centered on liquid chromatography, mass spectrometry, separation science, and related sample preparation and detection systems. Its product portfolio includes chromatographs, mass spectrometers, columns and consumables, laboratory informatics and workflow software, as well as technical support and training services that help customers run and interpret complex analyses.

Waters serves a wide range of end markets that include pharmaceutical and biotechnology companies, contract research and testing laboratories, academic and government research institutions, clinical diagnostics, food and environmental testing, and industrial and chemical manufacturers.