Waters (WAT) Q3 2026 Earnings Call: Guidance and Outlook
Formal guidance covers the fourth quarter of 2026 and includes upward revisions to full-year 2026 organic constant currency revenue growth and adjusted EPS, alongside an initial framework for fiscal year 2027.
About Waters. Waters Corporation is a global leader in specialized measurement, delivering analytical solutions across Asia, the Americas, and Europe. The company operates through two main divisions: Waters and TA.
$984 million to $1.002 billion for the fourth quarter of 2026.
Biosciences and Diagnostic Solutions Revenue
Approximately $817 million for the fourth quarter of 2026.
Adjusted EPS
$4.58 to $4.68 for the fourth quarter of 2026.
Annual guidance
Organic Constant Currency Revenue Growth
Raised by 140 basis points at the midpoint to 9.1% to 9.7% for full year 2026.
Organic Reported Revenue
$3.429 billion to $3.447 billion for full year 2026.
Biosciences and Diagnostic Solutions Reported Revenue
Approximately $3.05 billion for full year 2026.
Total Reported Revenue
Approximately $6.479 billion to $6.497 billion for full year 2026.
Adjusted EBIT Margin
28.2% for full year 2026.
Adjusted EPS
$14.60 to $14.70 for full year 2026.
Outlook
2027 Framework
As a starting framework for 2027, legacy Waters is expected to grow high single digits and legacy BD mid-single digits, combining to mid-single-digit plus organic growth.
Operating Margin Outlook
Starting framework for 2027 calls for 100 basis points of adjusted operating margin expansion to 29.2%.
Pharma Reshoring
Reshoring orders have already brought in double-digit millions of dollars as projects move from construction into instrument outfitting.
China Market Recovery
China is expected to be at least neutral if not accretive to company growth going forward, supported by localization and new leadership execution.
Dombey's summary of the Waters Q3 2026 earnings call held Nov 3, 2026, written from the call itself. Every figure on this page was checked against what was said on the call, and quoted lines are management's own words; we do not add estimates or prices. The tone score is our read of management's wording, guidance and answers. Check figures against the company's SEC filings before acting. This is research, not investment advice.
