Waters (WAT) Q3 2026: BD Deal Pays Off With Raised Full-Year Guidance
As seen on the 24/7 Wall St. homepage on November 3, 2026.
The BD Biosciences deal is already paying: Waters raised every component of full-year guidance, lifting revenue guidance by $43 million at the midpoint. Organic growth of 10% in constant currency, driven by GLP-1, PFAS and India generics testing, shows the core business carrying its own weight.
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Waters posted adjusted earnings per share of $4.10 for its third quarter of fiscal 2026, beating expectations as the February 2026 acquisition of Becton, Dickinson's Biosciences and Diagnostic Solutions businesses nearly doubled revenue year over year.
Organic revenue grew 10% in constant currency on demand tied to GLP-1 drug development, PFAS testing, and India generics, so the legacy business is carrying its share of the growth alongside the acquired units.
Waters raised every component of its full-year 2026 outlook, lifting the total revenue midpoint by $43 million. Investors who wait for the next quarter are paying up for guidance already on the table.
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CEO Udit Batra said integration and synergy commitments for the acquired businesses are running ahead of schedule, and the fourth-quarter outlook calls for double-digit days-adjusted growth in both the organic and acquired segments. Waters also announced the acquisition of MOBILion Systems, broadening its mass spectrometry and proteomics capabilities.
Acquisition amortization, purchase accounting charges, and deal-debt interest held GAAP diluted EPS to $0.82 for the quarter, with operating cash flow down 48% year over year. Those integration costs are worth tracking into 2027.
Sources
Mentioned: WAT