AI-extracted from the 10-Q filed 2026-08-11 — Q2 FY2026 (quarter ended July 4, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Revenue more than doubled to $1,645M (+113% YoY) on the $13B BDS Business acquisition, but purchased intangibles amortization, inventory step-up and integration costs pushed the company to an operating loss of $86M versus $188M of operating income a year ago.
Biggest Revenue Drivers
Analytical & Materials Sciences$756M+7% YoY
Broad-based growth led by higher demand for Acquity and Xevo TQ-S instrument systems and double-digit chemistry consumables growth
Advanced Diagnostics$521Mvs $62M prior year (not meaningful)
Includes $72M from the recast Waters Clinical business; remainder is BDS Business revenue since the February 9, 2026 acquisition close
Biggest Revenue Drivers
Total revenue: $1,645M+113% YoY
Analytical & Materials Sciences$756M+7% YoY
Broad-based growth led by higher demand for Acquity and Xevo TQ-S instrument systems and double-digit chemistry consumables growth
Advanced Diagnostics$521Mvs $62M prior year (not meaningful)
Includes $72M from the recast Waters Clinical business; remainder is BDS Business revenue since the February 9, 2026 acquisition close
Biosciences$368Mvs $0 prior year (not meaningful)
New reportable segment created by the BDS Business Acquisition; includes revenue only from the Closing Date through quarter end
Largest Expense Items
Cost of revenue$911M+184% YoY
Includes $560M of cost of revenue from the BDS Business and $154M of fair value inventory and fixed asset step-up expense from purchase accounting
Increase due to intangible assets recognized in the BDS Business Acquisition
Selling and administrative expenses$405M+105% YoY
BDS Business added $125M; also includes $37M of transaction, integration and other internal acquisition costs
Restructuring charges$49M
Severance costs from a workforce reduction impacting approximately 3% of employees, expected to yield ~$120M in annual salary savings
Margins: Operating margin swung to -5.2% from +24.4% a year ago as the BDS acquisition drove $244M of purchased intangibles amortization, a $154M inventory/fixed-asset fair value step-up, and transaction/integration costs, offsetting higher sales volume.
Watch Items from the Filing
The $13B BDS Business Acquisition (closed Feb 9, 2026) contributed $817M of the quarter's $1,645M revenue but drove a $136M net loss versus $147M net income a year ago.
Total debt rose to $5.1 billion from $1.4 billion at December 31, 2025, largely to fund the acquisition; interest expense increased to $60M from $15M YoY.
The company has a $673 million receivable due from BD classified in accounts receivable, representing greater than 10% of total accounts receivable, arising from the Transition Services Agreement.
The U.S. Supreme Court invalidated IEEPA tariffs on February 20, 2026 and new tariffs were implemented under alternative authority; the company has not recognized any refund amounts given uncertain recoverability and timing.
Net loss per diluted share was $(1.39) versus $2.47 of income per diluted share a year ago, driven by acquisition-related amortization, inventory step-up, restructuring, and financing costs.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Batra UditPresident and CEOShares withheld for tax or exercise price · Mar 2, 2026
Ornskov FlemmingDirectorGrant or award · Feb 25, 2026
Baddour LindaDirectorGrant or award · Feb 25, 2026
Congress trading in WAT
22 transactions in WAT reported by 10 members of Congress under the STOCK Act, most recent trade Aug 13, 2026. Reported transactions, not recommendations.
About WATERS CORP /DE/ (WAT): stock profile, AI score and financials
WATERS CORP /DE/ (WAT) stock profile, AI quality score, and SEC EDGAR financial data, a Healthcare sector company. 13F Pro's AI-powered ranking engine scores WAT at 62.3/100 on a composite quality score built from its SEC filings, placing it at rank #714 of 2,925 stocks — the top 25% of the AI-ranked universe. WAT scores in the top quartile across revenue growth (92.1), earnings quality (92.1), revenue scale (76.8). Areas of concern include profitability (31.3), which score below median versus the broader universe. Shareholder dilution risk is elevated at 41.9/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), WATERS CORP /DE/ reports quarterly revenue of $1.6B, net income of $-136.0M, an operating margin of -5.2%. Top institutional holders of WAT by reported 13-F value include BlackRock, MASSACHUSETTS FINANCIAL SERVICES, VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. WAT trades on the NYSE exchange and files with the SEC under CIK 1000697. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate WAT daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for WATERS CORP /DE/ directly from SEC EDGAR.