Waters (NYSE:WAT) Releases Q3 2026 Earnings Guidance

Waters (NYSE:WAT) updated its third quarter 2026 earnings guidance on Tuesday morning. The company provided EPS guidance of 3.950-4.050 for the period, compared to the consensus EPS 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 0.4%

NYSE:WAT traded up $1.71 during trading hours on Wednesday, reaching $397.79. The company’s stock had a trading volume of 247,501 shares, compared to its average volume of 1,028,768. The firm has a market capitalization of $39.06 billion, a price-to-earnings ratio of 50.55, a PEG ratio of 2.27 and a beta of 1.19. The firm has a 50-day simple moving average of $371.03 and a 200-day simple moving average of $345.01. Waters has a 1 year low of $275.05 and a 1 year high of $414.15. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.13 and a current ratio of 1.79.

Waters (NYSE:WAT) last posted its quarterly earnings results on Tuesday, August 4th. The medical instruments supplier reported $3.05 earnings per share for the quarter, topping the consensus estimate of $3.01 by $0.04. Waters had a net margin of 11.91% and a return on equity of 15.60%. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the previous year, the firm posted $2.95 earnings per share. The firm’s revenue for the quarter was up 113.3% on a year-over-year basis. 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 expect that Waters will post 14.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WAT has been the subject of a number of recent research reports. Stifel Nicolaus set a $420.00 target price on Waters in a research note on Wednesday. Bank of America lifted their price target on Waters from $370.00 to $400.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 2nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $475.00 price objective on shares of Waters in a research report on Wednesday. Evercore reissued an “outperform” rating and set a $420.00 price objective on shares of Waters in a research note on Wednesday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Waters in a report on Friday, July 17th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $413.60.

Key Stories Impacting Waters

Here are the key news stories impacting Waters this week:

• Positive Sentiment: Second-quarter results exceeded expectations. Waters reported adjusted EPS of $3.05 versus the $3.01 consensus estimate and revenue of $1.645 billion versus expectations of $1.62 billion. Organic revenue grew 7% year over year, or 9% in constant currency, while instrument and chemistry-consumables demand strengthened across pharmaceutical and industrial end markets. Waters Corporation Second Quarter 2026 Financial Results
• Positive Sentiment: Management raised its 2026 outlook. Full-year adjusted EPS guidance increased to $14.45–$14.65, with reported revenue guidance of approximately $6.415–$6.476 billion. The upgraded forecast reflects solid demand in Waters’ core business and contributions from its acquired Biosciences and Diagnostic Solutions operations. Waters lifts annual forecasts
• Positive Sentiment: Analyst support remains favorable. William Blair maintained a Buy rating, citing broad-based end-market recovery and acquisition-related synergies. William Blair maintains Buy rating
• Neutral Sentiment: Wells Fargo raised its price target to $400 from $370 but kept an Equal Weight rating. The new target implies minimal upside from recent trading levels, suggesting the firm views much of the improved outlook as already reflected in WAT’s valuation. Wells Fargo price-target update
• Negative Sentiment: Third-quarter revenue guidance was slightly below consensus. Waters forecast revenue of $1.7–$1.8 billion, compared with an analyst estimate near $1.8 billion, while its EPS range of $3.95–$4.05 bracketed the $4.01 consensus. The quarter also included a GAAP loss related to acquisition effects, despite adjusted earnings growth. Waters earnings call highlights

Institutional Investors Weigh In On Waters

Large investors have recently made changes to their positions in the business. Pacer Advisors Inc. increased its stake in shares of Waters by 11.5% during the fourth quarter. Pacer Advisors Inc. now owns 5,787 shares of the medical instruments supplier’s stock valued at $2,198,000 after buying an additional 595 shares during the period. Compound Planning Inc. lifted its stake in Waters by 3.2% in the fourth quarter. Compound Planning Inc. now owns 1,538 shares of the medical instruments supplier’s stock worth $584,000 after acquiring an additional 47 shares during the period. Corient Private Wealth LLC boosted its holdings in Waters by 728.4% in the fourth quarter. Corient Private Wealth LLC now owns 38,926 shares of the medical instruments supplier’s stock valued at $14,785,000 after acquiring an additional 34,227 shares in the last quarter. Beacon Pointe Advisors LLC boosted its holdings in Waters by 48.8% in the fourth quarter. Beacon Pointe Advisors LLC now owns 1,034 shares of the medical instruments supplier’s stock valued at $393,000 after acquiring an additional 339 shares in the last quarter. Finally, State of Tennessee Department of Treasury increased its position in Waters by 85.9% during 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 purchasing an additional 5,923 shares during the period. 94.01% of the stock is currently owned by institutional investors.

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.