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Waters Corporation WAT Q1 2026 earnings

Reported May 5, 2026 · Before market open

Revenue$1.3BBeat by $63.8M
EPS$2.70Beat by $0.39
Revenue estimate$1.2B
EPS estimate$2.31

Next report

Nov 3, 2026 (in 2 months)
Revenue estimate$1.8B
EPS estimate$4.01

Financials

Q1 2026

Income statement

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Revenue$1.3B+91.4%
Operating income-$47.0M-131%
Net income-$72.0M-160%
EPS (diluted)-$0.87-143%

Balance sheet

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Cash & equivalents$462.0M+20.7%
Total debt$5.2B+263%
Total equity$15.3B+679%
Total assets$24.5B+434%

Cash flow

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Operating cash flow-$3.0M-101%
CapEx$39.0M+50.0%
Free cash flow-$42.0M-118%

Valuation & ratios

Valuation

as of 04/04/26
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Market cap$29.21B+33.4%
Enterprise value$33.96B+48.0%
P/E65×+31.7×
P/S7.7×+0.4×

Profitability

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Operating margin16%-12.3pp
Net margin11.9%-10.1pp
FCF margin7%-13.8pp

Returns & leverage

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Return on equity5.2%-35.6pp
Debt / equity0.3×-0.4×
Current ratio1.8×0.0×

Segments

By geography

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Americas$505.0M+97.3%
European Union$412.0M—
Asia Pacific$350.0M+58.4%
Asia Other$197.0M+51.5%
Americas Other$90.0M+125%

By product

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Consumables$543.0M—
Instrument Systems$376.0M—
Service$348.0M+33.3%

FAQ

When did Waters Corporation report Q1 2026 earnings?
Waters Corporation (WAT) reported Q1 2026 earnings on May 5, 2026 before market open.
What were Waters Corporation's Q1 2026 revenue and EPS?
Waters Corporation reported revenue of $1.3B and eps of $2.70 for Q1 2026.
Did Waters Corporation beat estimates in Q1 2026?
Revenue beat the consensus estimate of $1.2B by $63.8M. EPS beat the consensus estimate of $2.31 by $0.39.
How did Waters Corporation's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 91.5% from $661.7M a year earlier and eps grew 20.0% from $2.25.
Where can I find Waters Corporation's Q1 2026 SEC filings?
You can read the 8-K earnings release (0001193125-26-204955) and the 10-Q periodic report (0001193125-26-219487) directly on SEC EDGAR. The filing index links above go to sec.gov.