Waters Corporation Achieves 7% Sales Growth, Sees $6.405B-$6.455B Revenue in 2026
Waters Corporation posted Q4 sales of $932m, up 7%/6% cc, with non-GAAP EPS of $4.53 (+10%), and full-year revenue of $3.165bn (+7%), non-GAAP EPS of $13.13 (+11%). The BD Biosciences acquisition closes, launching instrument replacement, e-commerce and service attachment, and guiding 2026 revenue of $6.405–$6.455bn with non-GAAP EPS of $14.30–$14.50.
1. Q4 and Full-Year 2025 Financial Results
Waters Corporation reported fourth quarter sales of $932 million, a 7% increase as reported and 6% in constant currency, driven by high single-digit Pharma and Industrial growth. Q4 non-GAAP EPS rose 10% to $4.53, while full-year revenue reached $3,165 million (+7%) and non-GAAP EPS climbed 11% to $13.13.
2. BD Biosciences Acquisition and Synergy Initiatives
The acquisition of BD Biosciences and Diagnostic Solutions closes today, integrating new product offerings and customer channels. The company is launching instrument replacement, e-commerce and service attachment initiatives to capture revenue synergies and strengthen recurring revenue streams.
3. 2026 Financial Guidance
For fiscal 2026, the combined company forecasts reported revenue of $6.405–$6.455 billion and non-GAAP EPS of $14.30–$14.50. Organic constant currency revenue growth is expected between 5.5% and 7.0%, underpinned by multi-year instrument replacement cycles and cost synergy realization.