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Waters Corporation WAT Q2 2026 earnings

Reported August 4, 2026 · Before market open

Revenue$1.6BBeat by $22.7M
Adjusted EPS$3.05Beat by $0.04
Revenue estimate$1.6B
EPS estimate$3.01
“Organic revenue grew 9% in constant currency, and our newly acquired businesses grew mid-single-digits in their first full quarter under Waters ownership. This performance reflects strong execution across the combined Company as our integration continues to gain momentum, while the recovery across our end markets has broadened with previously lagging customer segments now returning to growth.”
Udit Batra

Next report

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

Financials

Q2 2026

Income statement

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Revenue$1.6B+113%
Operating income-$86.0M-146%
Net income-$136.0M-193%
EPS (diluted)-$1.39-156%

Balance sheet

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Cash & equivalents$539.0M+46.8%
Total debt$5.3B+311%
Total equity$15.2B+603%
Total assets$24.8B+425%

Cash flow

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Operating cash flow$201.0M+390%
CapEx$48.0M+109%
Free cash flow$153.0M+750%

Valuation & ratios

Valuation

as of 08/27/26
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Market cap$40.69B+132%
Enterprise value$45.41B+146%
P/E244.9×+218×
P/S8.8×+3.0×

Profitability

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Operating margin7.1%-20.6pp
Net margin3.6%-18.1pp
FCF margin8.6%-11.7pp

Returns & leverage

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Return on equity1.9%-35.1pp
Debt / equity0.3×-0.2×
Current ratio1.9×+0.1×

Segments

By geography

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Americas$690.0M+146%
European Union$505.0M—
Asia Pacific$450.0M+69.2%
Asia Other$244.0M+63.8%
Americas Other$120.0M+135%

By product

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Consumables$765.0M—
Instrument Systems$455.0M—
Service$425.0M+42.6%

FAQ

When did Waters Corporation report Q2 2026 earnings?
Waters Corporation (WAT) reported Q2 2026 earnings on August 4, 2026 before market open.
What were Waters Corporation's Q2 2026 revenue and EPS?
Waters Corporation reported revenue of $1.6B and adjusted eps of $3.05 for Q2 2026.
Did Waters Corporation beat estimates in Q2 2026?
Revenue beat the consensus estimate of $1.6B by $22.7M. EPS beat the consensus estimate of $3.01 by $0.04.
How did Waters Corporation's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 113.3% from $771.3M a year earlier.
Where can I find Waters Corporation's Q2 2026 SEC filings?
You can read the 8-K earnings release (0001193125-26-331413) and the 10-Q periodic report (0001193125-26-344691) directly on SEC EDGAR. The filing index links above go to sec.gov.