Waters Corporation's Quarterly Earnings Preview: What You Need to Know

Milford, Massachusetts-based Waters Corporation (WAT) provides analytical workflow solutions. With a market cap of $37 billion, the company designs, manufactures, sells, and services high and ultra-performance liquid chromatography, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans. The global analytical instrumentation leader is expected to announce its fiscal second-quarter earnings for 2026 before the market opens on Tuesday, Aug. 4.

Ahead of the event, analysts expect WAT to report a profit of $3.01 per share on a diluted basis, up 2% from $2.95 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports. 

For the full year, analysts expect WAT to report EPS of $14.51, up 10.5% from $13.13 in fiscal 2025. Its EPS is expected to rise 14% year over year to $16.54 in fiscal 2027. 

WAT stock has underperformed the S&P 500 Index’s ($SPX) 20.6% gains over the past 52 weeks, with shares up 6.7% during this period. Similarly, it underperformed the State Street Health Care Select Sector SPDR ETF’s (XLV) 18% returns over the same time frame.

WAT underperformed on weak China demand, soft biopharma and industrial spending, BD integration concerns, and downbeat guidance that clouded the near-term life sciences recovery. 

On May 5, WAT shares surged 13.5% after reporting its Q1 results. Its adjusted EPS of $2.70 surpassed Wall Street expectations of $2.31. The company’s revenue was $1.3 billion, beating Wall Street forecasts of $1.2 billion. WAT expects full-year adjusted EPS in the range of $14.40 to $14.60, and revenue ranging from $6.4 billion to $6.5 billion.

Analysts’ consensus opinion on WAT stock is reasonably bullish, with a “Moderate Buy” rating overall. Out of 23 analysts covering the stock, 13 advise a “Strong Buy” rating, one suggests a “Moderate Buy,” and nine give a “Hold.” WAT’s average analyst price target is $408.69, indicating a potential upside of 8.6% from the current levels.

On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.