Waters (NYSE:WAT) Releases Q3 2026 Earnings Guidance

Waters (NYSE:WAT) updated its third quarter 2026 earnings guidance on Tuesday. The company provided earnings per share guidance of 3.950-4.050 for the period, compared to the consensus earnings per share estimate of 4.010. The company issued revenue guidance of $1.7 billion-$1.8 billion, compared to the consensus revenue estimate of $1.8 billion. Waters also updated its FY 2026 guidance to 14.450-14.650 EPS.

Waters Trading Up 6.4%

NYSE WAT traded up $24.10 on Tuesday, hitting $398.84. The company’s stock had a trading volume of 1,059,530 shares, compared to its average volume of 1,027,492. Waters has a 52-week low of $275.05 and a 52-week high of $414.15. The company has a current ratio of 1.79, a quick ratio of 1.13 and a debt-to-equity ratio of 0.32. The company’s 50-day simple moving average is $369.92 and its 200 day simple moving average is $344.99. The firm has a market cap of $39.16 billion, a P/E ratio of 50.69, a PEG ratio of 2.28 and a beta of 1.20.

Waters (NYSE:WAT) last posted its earnings results on Tuesday, August 4th. The medical instruments supplier reported $3.05 earnings per share (EPS) 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%.The firm’s revenue was up 113.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.95 EPS. Waters has set its Q3 2026 guidance at 3.950-4.050 EPS and its FY 2026 guidance at 14.450-14.650 EPS. Research analysts predict that Waters will post 14.51 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on Waters from $330.00 to $345.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. TD Cowen restated a “hold” rating on shares of Waters in a research note on Wednesday, July 15th. Evercore reaffirmed an “outperform” rating and issued a $410.00 target price on shares of Waters in a report on Monday, July 6th. UBS Group upped their target price on shares of Waters from $330.00 to $375.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Finally, Morgan Stanley increased their price target on shares of Waters from $350.00 to $390.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $402.47.

Trending Headlines about Waters

Here are the key news stories impacting Waters this week:

• Positive Sentiment: Waters reported second-quarter adjusted EPS of $3.05, exceeding the $3.01 consensus estimate and improving from $2.95 a year earlier. Revenue reached $1.645 billion, above the high end of management’s guidance, supported by organic growth and contributions from the acquired Biosciences and Diagnostic Solutions businesses. Waters Q2 Earnings and Revenues Beat Estimates
• Positive Sentiment: Organic revenue increased 7% as reported and 9% in constant currency. Analytical Sciences instrument revenue rose 8%, while chemistry consumables grew at a double-digit rate, with particularly strong demand from pharmaceutical and industrial end markets. Management said the market recovery is broadening across customer segments. Waters Reports Second Quarter 2026 Financial Results
• Positive Sentiment: Waters raised its full-year 2026 outlook to reported revenue of approximately $6.415 billion to $6.476 billion and adjusted EPS of $14.45 to $14.65. The company cited operating momentum, end-market recovery, and acquisition-related synergies. William Blair also maintained a Buy rating, pointing to a stronger growth outlook. Analyst Maintains Buy on Waters
• Neutral Sentiment: Third-quarter adjusted EPS guidance of $3.95 to $4.05 is close to the $4.01 consensus, but the $1.7 billion to $1.8 billion revenue range leaves the midpoint slightly below expectations. This may limit near-term upside despite the stronger full-year outlook.
• Negative Sentiment: Waters posted a GAAP net loss of $136 million, or $1.39 per diluted share, largely reflecting acquisition-related effects. Investors are therefore relying more heavily on adjusted results, while the stock’s elevated valuation increases sensitivity to any slowdown in growth.

Institutional Trading of Waters

Institutional investors and hedge funds have recently modified their holdings of the stock. Invesco Ltd. boosted its holdings in shares of Waters by 32.3% in the 3rd quarter. Invesco Ltd. now owns 1,472,419 shares of the medical instruments supplier’s stock valued at $441,446,000 after buying an additional 359,596 shares in the last quarter. Veritas Asset Management LLP boosted its stake in Waters by 112.3% in the fourth quarter. Veritas Asset Management LLP now owns 1,241,206 shares of the medical instruments supplier’s stock valued at $471,447,000 after acquiring an additional 656,436 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Waters by 509.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 671,103 shares of the medical instruments supplier’s stock worth $254,906,000 after purchasing an additional 561,047 shares during the last quarter. Marshall Wace LLP raised its stake in Waters by 1,611.3% in the fourth quarter. Marshall Wace LLP now owns 581,063 shares of the medical instruments supplier’s stock valued at $220,705,000 after buying an additional 547,109 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Waters by 4.3% in the third quarter. Bank of America Corp DE now owns 543,149 shares of the medical instruments supplier’s stock worth $162,842,000 after acquiring an additional 22,586 shares in the last quarter. Institutional investors own 94.01% of the company’s stock.

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.