Waters (NYSE:WAT) Updates Q2 2026 Earnings Guidance

Key Points

• Waters updated Q2 2026 guidance to $2.950–3.050 EPS (slightly below the consensus of $3.030) and revenue guidance of $1.6 billion (in line with consensus), while setting FY 2026 guidance at $14.400–14.600 EPS.
• In the most recent quarter Waters beat estimates, reporting $2.70 EPS vs. $2.31 expected and revenue of $1.27 billion vs. $1.20 billion expected.
• The stock traded down about 1.7% on the update; analysts collectively rate the stock a “Moderate Buy” with a consensus target of $387.53 amid mixed price-target revisions and some upgrades.

Waters (NYSE:WAT - Get Free Report) issued an update on its second quarter 2026 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 2.950-3.050 for the period, compared to the consensus earnings per share estimate of 3.030. The company issued revenue guidance of $1.6 billion-$1.6 billion, compared to the consensus revenue estimate of $1.6 billion. Waters also updated its FY 2026 guidance to 14.400-14.600 EPS.

Waters Trading Down 1.7%

WAT stock opened at $302.04 on Tuesday. The firm has a fifty day moving average price of $309.75 and a 200 day moving average price of $351.98. Waters has a fifty-two week low of $275.05 and a fifty-two week high of $414.15. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.27 and a current ratio of 1.73. The firm has a market cap of $29.65 billion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 1.99 and a beta of 1.14.

Waters (NYSE:WAT - Get Free Report) last posted its earnings results on Tuesday, May 5th. The medical instruments supplier reported $2.70 earnings per share for the quarter, beating analysts' consensus estimates of $2.31 by $0.39. Waters had a net margin of 20.30% and a return on equity of 34.79%. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.20 billion. Waters has set its Q2 2026 guidance at 2.950-3.050 EPS and its FY 2026 guidance at 14.400-14.600 EPS. Sell-side analysts anticipate that Waters will post 14.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Barclays assumed coverage on Waters in a research report on Tuesday, February 10th. They issued an "overweight" rating and a $400.00 price target for the company. Bank of America decreased their price objective on Waters from $410.00 to $350.00 and set a "neutral" rating for the company in a report on Tuesday, February 10th. UBS Group decreased their price objective on Waters from $370.00 to $330.00 and set a "neutral" rating for the company in a report on Monday, April 13th. Wells Fargo & Company reduced their target price on shares of Waters from $415.00 to $355.00 and set an "equal weight" rating for the company in a report on Wednesday, February 11th. Finally, The Goldman Sachs Group upgraded shares of Waters to a "strong-buy" rating in a report on Wednesday, April 1st. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Waters presently has an average rating of "Moderate Buy" and a consensus target price of $387.53.

Insider Buying and Selling

In other news, Director Wei Jiang bought 500 shares of the company's stock in a transaction that occurred on Monday, March 16th. The shares were purchased at an average price of $289.46 per share, for a total transaction of $144,730.00. Following the completion of the transaction, the director directly owned 3,441 shares in the company, valued at approximately $996,031.86. This represents a 17.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Waters

Hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. raised its stake in shares of Waters by 11.5% during the 4th quarter. Pacer Advisors Inc. now owns 5,787 shares of the medical instruments supplier's stock worth $2,198,000 after buying an additional 595 shares during the period. Compound Planning Inc. grew its holdings in Waters by 3.2% in the 4th quarter. Compound Planning Inc. now owns 1,538 shares of the medical instruments supplier's stock valued at $584,000 after buying an additional 47 shares in the last quarter. Corient Private Wealth LLC grew its holdings in Waters by 728.4% in the 4th quarter. Corient Private Wealth LLC now owns 38,926 shares of the medical instruments supplier's stock valued at $14,785,000 after buying an additional 34,227 shares in the last quarter. Beacon Pointe Advisors LLC grew its holdings in Waters by 48.8% in the 4th quarter. Beacon Pointe Advisors LLC now owns 1,034 shares of the medical instruments supplier's stock valued at $393,000 after buying an additional 339 shares in the last quarter. Finally, State of Tennessee Department of Treasury grew its holdings in Waters by 85.9% in the 4th quarter. State of Tennessee Department of Treasury now owns 12,818 shares of the medical instruments supplier's stock valued at $4,752,000 after buying an additional 5,923 shares in the last quarter. Hedge funds and other institutional investors own 94.01% of the company's stock.

About Waters

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.

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