Waters Corporation
Waters Corporation Q2 FY26 Results — Earnings Call Analysis
Q2 FY26 earnings call: what management said on revenue, margins and capex.
Waters Corporation Q2 FY26 key numbers
- Revenue
- Second quarter 2026 organic constant currency revenue growth is expected at 6% to 8%, with reported revenues guided at $814 million to $829 million.
As stated in Waters Corporation's Q2 FY26 earnings call transcript · published 29 May 2026. Reported figures, not investment advice.
The short version
- The company expects total reported 2026 revenue of approximately $6.405 billion to $6.455 billion, including $35 million of revenue synergies from acquired businesses. - Full-year 2026 adjusted EBIT margin expected at 28.2%, reflecting strong first quarter results and cost synergy actions starting in Q3.
From Waters Corporation's Q2 FY26 earnings-call transcript · updated 29 May 2026.
Revenue & Sales Performance
- The company expects total reported 2026 revenue of approximately $6.405 billion to $6.455 billion, including $35 million of revenue synergies from acquired businesses.
- Organic constant currency revenue growth guidance for full year 2026 is raised to 6.5% to 8%, reflecting strong Q1 performance and $15 million expected revenue synergy contribution.
- Second quarter 2026 organic constant currency revenue growth is expected at 6% to 8%, with reported revenues guided at $814 million to $829 million.
- Second half of 2026 organic growth is prudently modeled at ~6%, derisking outlook due to macro factors and fewer working days.
- Acquired Biosciences and Diagnostic Solutions businesses are expected to generate roughly $3.035 billion revenue in 2026 with ongoing commercial and operational initiatives driving growth.
2 more points from Waters Corporation's call on revenue
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Profitability & Margins
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Capital Expenditure Plans
- Localization of manufacturing in China for Flow cytometry instruments to improve market access and reduce export complexity, starting in Q3 2026 (Page 3).
- Investment in new product launches such as next-generation Microflow LC Chemistry Columns with MaxPeak Premier technology and omniDAWN Multi Angle Light Scattering Detector (Page 3).
- Launch of next-generation BACTEC FXI blood culture system with CE marking, with ongoing regulatory approvals in key markets (Page 3).
2 more points from Waters Corporation's call on capex
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Fundraising & Capital Structure
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Order Book & Pipeline
- The company reports very strong orderbook and funnel visibility, described as "better than they ever have" (Page 9).
- Forecast accuracy has improved due to enhanced collaboration and integration efforts post-acquisition (Page 9).
- The 180-day growth revitalization plan has increased commercial activity, leading to stronger funnel trends and overall momentum (Page 3).
2 more points from Waters Corporation's call on order book
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What the Q2 FY26 call signalled
3 of 4 strong
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Potential multibaggers · Q2 FY27
This quarter's potential multibaggers
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were Waters Corporation Q2 FY26 results?
- The company expects total reported 2026 revenue of approximately $6.405 billion to $6.455 billion, including $35 million of revenue synergies from acquired businesses. - Full-year 2026 adjusted EBIT margin expected at 28.2%, reflecting strong first quarter results and cost synergy actions starting in Q3.
What is Waters Corporation share price analysis?
Waters Corporation currently shows a below-average growth signal. The stock trades at a P/E of 43.1 with a market cap of $36,002. Investors should review the full earnings analysis for detailed insights.
Is Waters Corporation planning capital expenditure?
- Localization of manufacturing in China for Flow cytometry instruments to improve market access and reduce export complexity, starting in Q3 2026 (Page 3).
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.