WATERS CORP /DE/ — Form 8-K
Filed August 4, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 62/100
What the filing says
Waters Corp (market cap $21B) reported Q2 2026 revenue of $1.645B (organic $828M, up 9% constant currency; acquired BDS business $817M). Adjusted EPS of $3.05 exceeded guidance; GAAP EPS was ($1.39) due to $232M intangible amortization and $155M inventory step-up from the February 9, 2026 acquisition of Becton Dickinson's Biosciences and Diagnostic Solutions businesses. Company raised FY2026 full-year guidance: organic constant currency revenue growth to 7–9%, acquired business revenue to $3.045B, total revenue to $6.415–$6.476B, and adjusted EPS to $14.45–$14.65 (10–12% growth).
Why this rating
Large acquisition ($3B+ annual revenue, ~14% of pro forma size) successfully integrating; strong organic + acquired growth, guidance raise, and positive operational momentum. Meaningful but not transformational relative to $21B market cap.
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