Waters (NYSE:WAT) Issues Q1 2026 Earnings Guidance

Waters (NYSE:WAT) issued an update on its first quarter 2026 earnings guidance on Monday morning. The company provided EPS guidance of 2.250-2.350 for the period, compared to the consensus EPS estimate of 2.520. The company issued revenue guidance of $1.2 billion-$1.2 billion, compared to the consensus revenue estimate of $713.0 million. Waters also updated its FY 2026 guidance to 14.300-14.500 EPS.

Wall Street Analyst Weigh In

WAT has been the topic of several research analyst reports. Wall Street Zen cut shares of Waters from a “buy” rating to a “hold” rating in a research report on Sunday. Morgan Stanley started coverage on shares of Waters in a report on Monday, December 1st. They issued an “equal weight” rating and a $423.00 price target on the stock. TD Cowen reissued a “hold” rating on shares of Waters in a research note on Wednesday, November 5th. Wolfe Research raised Waters from a “peer perform” rating to an “outperform” rating and set a $480.00 target price on the stock in a research report on Wednesday, December 10th. Finally, Guggenheim began coverage on Waters in a research report on Tuesday, January 6th. They set a “buy” rating and a $440.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $399.12.

Waters Stock Up 1.3%

Shares of Waters stock opened at $381.95 on Monday. The company has a fifty day moving average price of $387.85 and a 200 day moving average price of $347.31. The company has a current ratio of 1.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.41. Waters has a twelve month low of $275.05 and a twelve month high of $415.11. The stock has a market cap of $22.75 billion, a price-to-earnings ratio of 35.11, a price-to-earnings-growth ratio of 3.19 and a beta of 1.18.

Waters (NYSE:WAT) last issued its quarterly earnings data on Thursday, February 12th. The medical instruments supplier reported $4.53 EPS for the quarter, topping analysts’ consensus estimates of $4.50 by $0.03. Waters had a return on equity of 36.59% and a net margin of 20.89%.The company had revenue of $932.36 million for the quarter, compared to analysts’ expectations of $928.17 million. During the same quarter in the previous year, the firm posted $4.10 earnings per share. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Equities research analysts forecast that Waters will post 12.86 earnings per share for the current fiscal year.

Key Stories Impacting Waters

Here are the key news stories impacting Waters this week:

• Positive Sentiment: Waters reported Q4 results that modestly beat estimates: non?GAAP EPS of $4.53 vs. consensus $4.50 and revenue of $932.4M vs. ~$928.2M, with healthy margins and ROE. This shows ongoing operational strength heading into the year. Waters Q4 & FY 2025 Results
• Positive Sentiment: Waters completed the combination with BD’s Biosciences & Diagnostic Solutions business and named Claire M. Fraser, Ph.D., to the company — a transaction that materially increases scale and recurring-revenue opportunities (explains the much higher revenue guidance). Combination Announcement
• Positive Sentiment: FY 2026 guidance: EPS of $14.30–$14.50 (in line/slightly above consensus ~$14.29) and revenue guidance of $6.4–$6.5B (well above prior consensus), reflecting the BD combination and implying meaningful top-line scale for the year. (No link provided in the filing summary)
• Neutral Sentiment: Company published its full press release and slide deck for the quarter — useful for investors who want detailed segment, backlog and recurring?revenue breakdowns. Q4 Slide Deck
• Negative Sentiment: Q1 2026 EPS guidance came in at $2.25–$2.35 vs. the consensus ~$2.52 — a notable miss on near?term profitability expectations that likely pressured the stock despite stronger revenue guidance for the quarter. (No link provided in the filing summary)
• Negative Sentiment: Analyst action: Wall Street Zen lowered its rating to Hold, which can amplify selling pressure in the short term. Rating Change

Hedge Funds Weigh In On Waters

A number of institutional investors have recently added to or reduced their stakes in the company. MUFG Securities EMEA plc bought a new stake in Waters in the second quarter valued at about $61,000. State of Wyoming bought a new position in Waters during the 2nd quarter worth approximately $75,000. Headlands Technologies LLC acquired a new position in shares of Waters in the 2nd quarter worth approximately $135,000. EverSource Wealth Advisors LLC increased its holdings in shares of Waters by 82.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 386 shares of the medical instruments supplier’s stock valued at $135,000 after acquiring an additional 175 shares during the last quarter. Finally, Sivia Capital Partners LLC acquired a new stake in shares of Waters during the 2nd quarter valued at approximately $232,000. Institutional investors and hedge funds 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.