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Waters Earnings Calls
| Release date | Nov 04, 2025 |
| EPS estimate | $3.21 |
| EPS actual | $3.40 |
| EPS Surprise | 5.92% |
| Revenue estimate | 928.792M |
| Revenue actual | 799.887M |
| Revenue Surprise | -13.88% |
| Release date | Aug 04, 2025 |
| EPS estimate | $2.94 |
| EPS actual | $2.95 |
| EPS Surprise | 0.340% |
| Revenue estimate | 748.664M |
| Revenue actual | 771.332M |
| Revenue Surprise | 3.03% |
| Release date | May 06, 2025 |
| EPS estimate | $2.22 |
| EPS actual | $2.25 |
| EPS Surprise | 1.35% |
| Revenue estimate | 654.807M |
| Revenue actual | 661.705M |
| Revenue Surprise | 1.05% |
| Release date | Feb 12, 2025 |
| EPS estimate | $4.03 |
| EPS actual | $4.10 |
| EPS Surprise | 1.74% |
| Revenue estimate | 857.06M |
| Revenue actual | 872.714M |
| Revenue Surprise | 1.83% |
Last 4 Quarters for Waters
Below you can see how WAT performed 4 days prior and 4 days after releasing the earnings report. Also, you can see the pre-estimates and the actual earnings. This information can give you a slight idea of what you might expect for the next quarter's release.
| Release date | Feb 12, 2025 |
| Price on release | $381.91 |
| EPS estimate | $4.03 |
| EPS actual | $4.10 |
| EPS surprise | 1.74% |
| Date | Price |
|---|---|
| Feb 06, 2025 | $410.95 |
| Feb 07, 2025 | $409.50 |
| Feb 10, 2025 | $407.58 |
| Feb 11, 2025 | $405.29 |
| Feb 12, 2025 | $381.91 |
| Feb 13, 2025 | $379.11 |
| Feb 14, 2025 | $369.73 |
| Feb 18, 2025 | $376.29 |
| Feb 19, 2025 | $377.97 |
| 4 days before | -7.07% |
| 4 days after | -1.03% |
| On release day | -0.733% |
| Change in period | -8.03% |
| Release date | May 06, 2025 |
| Price on release | $339.02 |
| EPS estimate | $2.22 |
| EPS actual | $2.25 |
| EPS surprise | 1.35% |
| Date | Price |
|---|---|
| Apr 30, 2025 | $347.73 |
| May 01, 2025 | $341.83 |
| May 02, 2025 | $350.45 |
| May 05, 2025 | $348.38 |
| May 06, 2025 | $339.02 |
| May 07, 2025 | $345.46 |
| May 08, 2025 | $350.88 |
| May 09, 2025 | $344.06 |
| May 12, 2025 | $366.67 |
| 4 days before | -2.50% |
| 4 days after | 8.16% |
| On release day | 1.90% |
| Change in period | 5.45% |
| Release date | Aug 04, 2025 |
| Price on release | $285.59 |
| EPS estimate | $2.94 |
| EPS actual | $2.95 |
| EPS surprise | 0.340% |
| Date | Price |
|---|---|
| Jul 29, 2025 | $303.19 |
| Jul 30, 2025 | $299.07 |
| Jul 31, 2025 | $288.76 |
| Aug 01, 2025 | $290.31 |
| Aug 04, 2025 | $285.59 |
| Aug 05, 2025 | $281.19 |
| Aug 06, 2025 | $277.72 |
| Aug 07, 2025 | $278.00 |
| Aug 08, 2025 | $281.20 |
| 4 days before | -5.80% |
| 4 days after | -1.54% |
| On release day | -1.54% |
| Change in period | -7.25% |
| Release date | Nov 04, 2025 |
| Price on release | $367.34 |
| EPS estimate | $3.21 |
| EPS actual | $3.40 |
| EPS surprise | 5.92% |
| Date | Price |
|---|---|
| Oct 29, 2025 | $343.47 |
| Oct 30, 2025 | $342.90 |
| Oct 31, 2025 | $349.60 |
| Nov 03, 2025 | $345.59 |
| Nov 04, 2025 | $367.34 |
| Nov 05, 2025 | $371.97 |
| Nov 06, 2025 | $371.16 |
| Nov 07, 2025 | $371.69 |
| Nov 10, 2025 | $376.59 |
| 4 days before | 6.95% |
| 4 days after | 2.52% |
| On release day | 1.26% |
| Change in period | 9.64% |
Waters Earnings Call Transcript Summary of Q3 2025
Waters reported a strong Q3 FY2025 with sales of $800M, up 8% (constant currency), instruments +6% and recurring revenue +9% (service +7%, chemistry +13%). Non-GAAP EPS was $3.40, up 16%, beating guidance. Key growth drivers include an instrument replacement cycle, strong adoption of LC‑MS and new platforms (Alliance iS, Xevo TQ Absolute series), idiosyncratic markets (GLP‑1 testing, PFAS, India generics), and expanding momentum in bioseparations and bioanalytical characterization (including multi‑angle light scattering, BioAccord LC‑MS). Waters launched the Xevo CDMS (charge detection mass spectrometer) and previewed cloud‑native, AI/ML enhancements to Empower informatics with a push toward subscription licensing. Management is progressing integration planning for the pending combination with BD’s Biosciences & Diagnostic Solutions business and expects close around end of Q1 CY2026 with early synergies. Financial outlook was raised: full‑year 2025 constant‑currency sales growth now guided to 6.7%–7.3% (7% midpoint) and adjusted EPS to $13.05–$13.15 (double‑digit growth). Gross margin is expected ~59.2% and adjusted operating margin ~31% for the year. Backlog grew as orders outpaced shipments; free cash flow remained healthy and net debt was $948M at quarter end.
