Waters Corp (WAT)

Waters Corporation Schedules Second Quarter 2026 Earnings Conference CallJuly 2, 2026 6:00 AM
PR Newswire (US) MILFORD, Mass., July 2, 2026 /PRNewswire/ -- Waters Corporation (NYSE: WAT) will hold its Q2 2026 financial results conference call on Tuesday, August 4, 2026, at 8:00 a.m. Eastern Time. A live webcast of the presentation will be available on Waters' Investor Relations website at https://ir.waters.com. A replay of the webcast will also be available until at least September 1, 2026, at midnight Eastern Time.About Waters CorporationWaters Corporation (NYSE: WAT) is a global leader in life sciences and diagnostics, dedicated to accelerating the benefits of pioneering science through analytical technologies, informatics, and service. With a focus on regulated, high-volume testing environments, our innovative portfolio harnesses deep scientific expertise across chemistry, physics, and biology. We collaborate with customers around the world to advance the release of effective, high-quality medicines, ensure the safety of food and water, and drive better patient outcomes by detecting diseases earlier, managing routine infections, and combating antibiotic resistance. Through a shared culture of relentless innovation, our passionate team of ~16,000 colleagues turn scientific challenges into breakthroughs that improve lives worldwide. For more information, please visit www.waters.com/about.Caspar Tudor, Head of Investor Relations
investor_relations@waters.com View original content:https://www.prnewswire.com/news-releases/waters-corporation-schedules-second-quarter-2026-earnings-conference-call-302816469.htmlSOURCE Waters Corporation Original: Waters Corporation Schedules Second Quarter 2026 Earnings Conference Call

Waters Introduces Unrivaled Sensitivity and Speed to Benchtop HRMS with Xevo MRT P10 MS, Accelerating Multiomics ResearchJune 1, 2026 8:00 AM
PR Newswire (Canada) Delivers up to 20x improvement in MS/MS sensitivity and 2x faster acquisition speeds, enabling deeper biological insight for next-generation multiomics, therapeutic, and high-throughput workflows.Identifies up to 40% more lipids by LC-MS/MS than the leading alternative benchtop high-resolution mass spectrometer, advancing lipidomics research and disease understanding.Sets a new benchmark for throughput in high-resolution spatial analysis with the DESI XS source, supporting higher-confidence studies of disease and treatment response.MILFORD, Mass., June 1, 2026 /CNW/ -- 74th ASMS Conference on Mass Spectrometry and Allied Topics—Waters Corporation (NYSE: WAT) today introduced the Waters Xevo™ MRT P10 Mass Spectrometer, a high-resolution Quadrupole Time-of-Flight (QToF) System for high-throughput multiomics, bioanalysis, and biopharmaceutical laboratories. The Xevo MRT P10 MS delivers up to 20x higher MS/MS sensitivity compared to its predecessor, along with industry-leading speed and expanded acquisition modes to comprehensively support both targeted and untargeted analysis in a single benchtop platform. The system is designed to accelerate biomarker discovery and validation while supporting the identification of disease pathways and therapeutic targets across large-cohort biomedical research and epidemiology studies. "With the Xevo MRT P10 MS, we are raising the standard for benchtop high-resolution mass spectrometry," said James Hallam, Vice President & General Manager, Liquid Chromatography-Mass Spectrometry, Waters Analytical Sciences, Waters Corporation. "By combining enhanced MS/MS sensitivity, the industry's fastest benchtop acquisition speeds, and advanced intelligent acquisition modes in LC-MS/MS – and layering in a new benchmark for MS imaging speed and throughput with our DESI XS – this platform empowers researchers to see more biology, accelerate discovery, and make confident decisions. The Xevo MRT P10 MS represents a powerful step forward for our customers working to advance multiomics research and life-changing therapies."As researchers pursue deeper analytical insights, they face a bottleneck: generating high quality MS/MS information at the speed required by modern workflows. The Xevo MRT P10 MS is engineered to solve that problem. It offers up to 20× greater MS/MS sensitivity, helping scientists detect low-abundance compounds in complex samples.1 With acquisition speeds twice as fast as its predecessor, it is the fastest benchtop HRMS system currently available.2 The new system supports rapid throughput, alongside exceptional resolution and mass accuracy, delivering the highest data quality and confidence. When combined with the DESI XS ion source, rapid spatial analysis is unlocked down to the cellular level at up to 200 Hz, increasing throughput six-fold while preserving image quality.3"As a core research facility, we must be prepared to respond to challenging and often unexpected client requests, many of which relate to research into complex diseases," said Corey Broeckling, Ph.D., Director, Bioanalysis and Omics Center, Colorado State University. "We leverage the exceptional MS/MS sensitivity and fast acquisition rates of the Xevo MRT P10 MS for multiomics research. Its excellent resolution enables us to separate signals of similar mass at very high acquisition speeds, delivering deep, high-quality coverage while maintaining sub-ppm mass accuracy. Combined with new acquisition modes, this provides the versatility and data confidence we need across a wide range of omics applications."The Xevo MRT P10 MS is perfectly positioned to support long-term growth across multiomics, including proteomics, lipidomics, and metabolomics, as well as biopharmaceutical analysis and drug discovery. The instrument unlocks new workflows in high-throughput, deep proteome discovery by combining greater sensitivity with ultra-fast acquisition rates and advanced acquisition modes, allowing confident detection of low-abundance peptides and comprehensive protein identification with rapid separations at scale. In comparative lipid profiling by LC-MS/MS, the Xevo MRT P10 MS enabled identification of up to 40% more lipids than the most competitive alternative system.4 These enhancements support more comprehensive biological interpretation in multiomics-driven research and ultimately drive deeper levels of disease understanding.The Xevo MRT P10 MS will be showcased at ASMS 2026 and is expected to be available globally beginning summer 2026. For more information or to request a demo, visit the product page.Additional Resources:Product pageWaters, Xevo, and SONAR are trademarks of Waters Corporation or its affiliates. All other marks are the property of their respective owners.The P in Xevo MRT P10 denotes Premium, the highest performance tier from Waters and 10 marks the first generation of this platform under Waters' new product naming convention.About Waters Corporation:Waters Corporation (NYSE: WAT) is a global leader in life sciences and diagnostics, dedicated to accelerating the benefits of pioneering science through analytical technologies, informatics, and service. With a focus on regulated, high-volume testing environments, our innovative portfolio harnesses deep scientific expertise across chemistry, physics, and biology. We collaborate with customers around the world to advance the release of effective, high-quality medicines, ensure the safety of food and water, and drive better patient outcomes by detecting diseases earlier, managing routine infections, and combating antibiotic resistance. Through a shared culture of relentless innovation, our passionate team of ~16,000 colleagues turn scientific challenges into breakthroughs that improve lives worldwide. For more information, please visit www.waters.com/about.  References:Up to 20× improvement in MS/MS sensitivity based on internal Waters testing, comparing Xevo MRT P10 MS to a prior-generation benchtop Xevo MRT MS under controlled conditions; protocol and sample details on file.Maximum acquisition rates (100 Hz MS; 200 Hz MS/MS) versus commercially available benchtop HRMS platforms as of April 2026, based on internal benchmarking.Up to 2x improvement in imaging speed, comparing to current Waters Xevo MRT MS with DESI XS, and up to 4x imaging speed compared to next-best competitive MS imaging system. When combined with the DESI XS ion source, rapid spatial analysis is unlocked down to the cellular level at up to 200 Hz, increasing throughput six-fold while preserving image quality.Up to 40% more lipid identifications based on comparative lipidomics study using matched sample sets across Xevo MRT P10 MS and a leading benchtop HRMS system; protocol and sample details on file.Contact:Molly Gluck  
Head of External Communications
Waters Corporation  
508.498.9732
molly_gluck@waters.com    View original content to download multimedia:https://www.prnewswire.com/news-releases/waters-introduces-unrivaled-sensitivity-and-speed-to-benchtop-hrms-with-xevo-mrt-p10-ms-accelerating-multiomics-research-302786883.htmlSOURCE Waters Corporation Original: Waters Introduces Unrivaled Sensitivity and Speed to Benchtop HRMS with Xevo MRT P10 MS, Accelerating Multiomics Research

Waters Unveils Cyclic IMS P20 MS: The New Benchmark in Structural and Spatial OmicsJune 1, 2026 8:00 AM
PR Newswire (US) >10x step-change in MS/MS sensitivity paired with multipass Cyclic™ Ion Mobility Spectrometry (IMS) reveals subtle biological differences for earlier, previously unattainable detection of disease signals.50% extended upper mass range and comprehensive suite of structural tools advance the development of next-generation biotherapeutics.Integrated MALDI XS and DESI XS imaging with high-resolution ion mobility enables direct visualization of molecules in tissue, improving understanding of how disease develops at the cellular level.MILFORD, Mass., June 1, 2026 /PRNewswire/ -- 74th ASMS Conference on Mass Spectrometry and Allied Topics— Waters Corporation (NYSE: WAT) today announced the launch of the Waters Cyclic IMS P20 Mass Spectrometer, a high-resolution structural and spatial omics platform designed to help scientists see biology more clearly, and act on it faster. Combining multipass Cyclic Ion Mobility Spectrometry with an enhanced suite of fragmentation, probing, and imaging capabilities, this unique and powerful instrument delivers confident insights for the early detection of disease signals, from protein misfolding to post-translational modifications. The system's full-spectrum molecular imaging unlocks unparalleled visualization within a single experiment1 to accelerate discovery and development, and power deeper understanding of complex biology. "Waters recognizes that advanced tools for structural and spatial omics play a critical role in delivering therapeutic breakthroughs," said James Hallam, Vice President & General Manager, Liquid Chromatography-Mass Spectrometry, Waters Analytical Sciences, Waters Corporation. "With its powerful fusion of capabilities, the Cyclic IMS P20 MS delivers a previously unattainable view into subtle molecular differences, unlocking a new level of understanding of the mechanisms that drive disease and advancing next-generation discovery."As researchers pursue larger and more heterogeneous therapeutic targets, analytical workflows need higher sensitivity, higher structural resolution, and easier-to-adopt methods. The Cyclic IMS P20 Mass Spectrometer meets that need with a more than a 10-fold increase in MS/MS sensitivity compared to its predecessor,2 an upper mass range extended by more than 50% to over 100 kDa,3 and a set of complementary structural probing approaches, including tandem ion mobility spectrometry (IMSn), electron-capture dissociation (ECD), surface-induced dissociation (SID), and collision-induced unfolding (CIU) – delivering the most comprehensive spatial and structural molecular view within a single platform."My lab studies proteins involved in misfoldings that drive human disease, which are notoriously difficult to characterize. We leverage the advanced capabilities of Cyclic IMS P20 MS to perform complex tandem ion mobility experiments on low-abundance forms of a key molecule involved in the pathogenesis of Type II diabetes," said Kostas Thalassinos, Ph.D., Professor of Mass Spectrometry and Academic Lead, Institute of Structural and Molecular Biology, University College London. "The increase in sensitivity delivered by the new functionality is truly remarkable. It stands to significantly accelerate our analyses, potentially by an order of magnitude, and enables us to probe critical low-abundance species in far greater detail. These rare molecular populations are essential for delineating the mechanisms that drive human disease."The Cyclic IMS P20 Mass Spectrometer also brings Matrix-Assisted Laser Desorption/Ionization (MALDI) and Desorption Electrospray Ionization (DESI) imaging sources together in one system, pioneering their combination with advanced multipass cyclic ion mobility and IMS separation to help researchers see more, with greater clarity, directly in their samples. This unique approach broadens coverage across small molecules, lipids, peptides, and proteins, while separating isobaric and stereoisomeric compounds. Additionally, the system delivers multi-dimensional insights that elucidate links between molecular composition and the tissue microenvironment, supporting biomarker identification directly from tissue. These rich, easily-interpreted molecular maps provide increased confidence in lipidomics, drug and metabolite localization, translational research, and other experiments requiring visualization.The Waters Cyclic IMS P20 Mass Spectrometer will be showcased at ASMS 2026 and is expected to be available globally beginning September 2026. For more information or to request a demo, visit product page.Additional Resources:Product pageWaters and Cyclic are trademarks of Waters Corporation or its affiliates. All other trademarks are the property of their respective owners.The P in Cyclic IMS P20 denotes Premium, the highest performance tier from Waters, and 20 reflects the platform's evolution from the SELECT SERIES lineage under Waters' new product naming convention.About Waters Corporation:Waters Corporation (NYSE: WAT) is a global leader in life sciences and diagnostics, dedicated to accelerating the benefits of pioneering science through analytical technologies, informatics, and service. With a focus on regulated, high-volume testing environments, our innovative portfolio harnesses deep scientific expertise across chemistry, physics, and biology. We collaborate with customers around the world to advance the release of effective, high-quality medicines, ensure the safety of food and water, and drive better patient outcomes by detecting diseases earlier, managing routine infections, and combating antibiotic resistance. Through a shared culture of relentless innovation, our passionate team of ~16,000 colleagues turn scientific challenges into breakthroughs that improve lives worldwide. For more information, please visit www.waters.com/about.References:Imaging modality performance and ion mobility separation examples in tissue; based on internal Waters testing, protocol and sample details on file.Up to 10x MS/MS sensitivity comparison (Cyclic IMS P20 vs prior generation instrument) based on internal Waters testing; protocol and sample details on file.Upper mass range specification and representative analytes; based on internal Waters testing; see Cyclic IMS P20 Specification sheet.Contact:Molly Gluck  
Head of External Communications
Waters Corporation  
508.498.9732
molly_gluck@waters.com    View original content to download multimedia:https://www.prnewswire.com/news-releases/waters-unveils-cyclic-ims-p20-ms-the-new-benchmark-in-structural-and-spatial-omics-302786888.htmlSOURCE Waters Corporation Original: Waters Unveils Cyclic IMS P20 MS: The New Benchmark in Structural and Spatial Omics

Waters Corporation to Present at the Jefferies Global Healthcare ConferenceMay 18, 2026 4:00 PM
PR Newswire (US) MILFORD, Mass., May 18, 2026 /PRNewswire/ -- Waters Corporation (NYSE:WAT) announced that Udit Batra, Ph.D., Waters President and Chief Executive Officer, will participate in a fireside chat at the Jefferies Global Healthcare Conference on Wednesday, June 3rd, 2026, at 10:30 AM Eastern Time.A live webcast of the event will be available on the 'Events & Presentations' section of Waters Investor Relations website at https://ir.waters.com. A replay of the webcast will be available for 90 days.About Waters CorporationWaters Corporation (NYSE:WAT) is a global leader in life sciences, dedicated to accelerating the benefits of pioneering science through analytical technologies, informatics, and service. With a focus on regulated, high-volume testing environments, our innovative portfolio harnesses deep scientific expertise across chemistry, physics, and biology. We collaborate with analytical laboratories around the world to advance the release of effective, high-quality medicines, assure the safety of food and water, and drive better patient outcomes by detecting diseases earlier, managing routine infections, and combatting growing antibiotic resistance. Through a shared culture of relentless innovation, our passionate team of approximately 16,000 employees partner with our customers to turn scientific challenges into breakthroughs that improve lives worldwide.Caspar Tudor, Head of Investor Relations
investor_relations@waters.com View original content:https://www.prnewswire.com/news-releases/waters-corporation-to-present-at-the-jefferies-global-healthcare-conference-302775033.htmlSOURCE Waters Corporation Original: Waters Corporation to Present at the Jefferies Global Healthcare Conference

Waters Shares Climb 5% After Strong Q1 Earnings BeatMay 5, 2026 7:48 AM
IH Market News Waters Corporation (NYSE:WAT) reported first-quarter results on Tuesday that exceeded analyst expectations, pushing its shares up 5.2% in premarket trading as investors responded to solid performance following a recent acquisition.The company posted adjusted earnings per share of $2.70, beating the consensus estimate of $2.31 by $0.39. Revenue totaled $1.27 billion, coming in above the $1.2 billion forecast. First Quarter Including New Acquisition This quarter marked the first set of results to include contributions from the Biosciences and Diagnostic Solutions businesses acquired from Becton, Dickinson and Company on February 9, 2026.Organic revenue increased 13% on a reported basis and 11% in constant currency, exceeding the top end of the company’s guidance range by 200 basis points.The newly acquired Biosciences and Diagnostic Solutions units generated $520 million in revenue, outperforming guidance by $40 million. Compared with $662 million in total revenue reported in the first quarter of 2025, Waters’ core business delivered 13% year-on-year organic growth. CEO Highlights Integration Progress “Thanks to the hard work of our teams, we delivered an excellent first quarter as a combined company,” said Udit Batra. “Our Biosciences and Advanced Diagnostics Divisions are off to a strong start with a significant improvement in growth rates versus pre-close trends, due to increased execution discipline, a sharper focus on upcoming new product launches, and superb collaboration with our Analytical Sciences Division.” Outlook for Q2 and Full Year For the second quarter of 2026, Waters expects adjusted EPS in the range of $2.95 to $3.05, with the midpoint of $3.00 in line with analyst estimates. The company forecasts organic revenue between $814 million and $829 million for the quarter.Waters also raised its full-year 2026 guidance, now projecting adjusted EPS of $14.40 to $14.60, with a midpoint of $14.50—slightly above the $14.38 consensus.In addition, the company increased its outlook for organic constant-currency revenue growth to a range of 6.5% to 8.0%, and expects total annual revenue of between $6.405 billion and $6.455 billion.Waters Corporation stock price Original: Waters Shares Climb 5% After Strong Q1 Earnings Beat

Waters Corporation (NYSE: WAT) Reports First Quarter 2026 Financial ResultsMay 5, 2026 6:00 AM
PR Newswire (US) First Quarter 2026 HighlightsTotal reported revenue of $1.267 billion exceeded the high end of the guidance range by $56 million, driven by strong outperformance in both organic revenue and the acquired businesses.Organic revenue grew 13% as reported and 11% in constant currency, exceeding the high end of the constant currency growth guidance range by 200 basis points – led by high-single-digit instrument growth and mid-teens chemistry growth within the Analytical Sciences Division.The Biosciences and Diagnostic Solutions businesses generated $520 million of reported revenue since the closing of the acquisition – $40 million above guidance – driven by traction from commercial execution and operational improvement initiatives launched during the quarter.GAAP EPS of ($0.87); Adjusted EPS of $2.70 grew 20% year-over-year, driven by better-than-expected revenue and margin performance.The Company is raising its full year 2026 organic constant currency revenue growth guidance to 6.5% to 8.0% and now expects the acquired businesses to generate $3.035 billion of reported revenue in 2026. The Company is also raising its full-year 2026 adjusted EPS guidance to $14.40 to $14.60, reflecting double-digit adjusted EPS growth.MILFORD, Mass., May 5, 2026 /PRNewswire/ -- Waters Corporation (NYSE: WAT), today announced its financial results for the first quarter of 2026, marking the first reporting period that includes financial results for the Biosciences and Diagnostic Solutions businesses of Becton, Dickinson and Company, which was acquired by Waters on February 9, 2026.Overall Financial ResultsThe Company's reported revenue for the first quarter of 2026 was $1.267 billion, reflecting $747 million of organic revenue and $520 million of revenue from Biosciences and Diagnostic Solutions from the transaction closing date through to the end of the quarter.Organic revenue for the first quarter of 2026 was $747 million, compared to $662 million for the first quarter of 2025, representing an increase of 13% as reported and 11% in constant currency.Revenue from Biosciences and Diagnostic Solutions was $520 million on an owned-period basis within the quarter, compared to $485 million on an estimated prior-year equivalent basis.On a GAAP basis, the Company reported a diluted loss per share of $0.87 for the first quarter of 2026, compared to diluted EPS of $2.03 for the first quarter of 2025, reflecting acquisition-related purchase accounting charges including amortization of acquired intangibles and inventory step-up.Adjusted EPS for the first quarter of 2026 grew 20% to $2.70, compared to $2.25 for the first quarter of 2025."Thanks to the hard work of our teams, we delivered an excellent first quarter as a combined company," said Udit Batra, Ph.D., President & Chief Executive Officer, Waters Corporation. "Our Biosciences and Advanced Diagnostics Divisions are off to a strong start with a significant improvement in growth rates versus pre-close trends, due to increased execution discipline, a sharper focus on upcoming new product launches, and superb collaboration with our Analytical Sciences Division which has already enabled the realization of revenue synergies. In parallel, the instrument replacement cycle, success of new product launches, and our idiosyncratic growth drivers are continuing to fuel exceptional momentum in our organic revenue growth rates."Dr. Batra continued: "As we look ahead, we are raising our guidance to reflect the increased momentum we are seeing across our businesses. Our teams are focused on executing a seamless integration, delivering industry-leading growth, and building a highly differentiated portfolio, positioning Waters for continued success for many years to come."Analytical Sciences Division (ASD)The Analytical Sciences Division – the former Waters Division, excluding the Clinical Business Unit – delivered reported revenue of $607 million in the quarter, compared to $534 million for the first quarter of 2025.Biosciences Division (WBD)The Biosciences Division – formerly known as BD Biosciences – delivered reported revenue of $232 million on an owned-period basis within the quarter.Advanced Diagnostics Division (ADx)The Advanced Diagnostics Division comprises the former BD Diagnostic Solutions business and the Clinical Business Unit previously reported within Waters Division.The Diagnostic Solutions business delivered reported revenue of $288 million on an owned-period basis within the quarter. The Clinical Business Unit delivered reported revenue of $61 million in the quarter, compared to $53 million for the first quarter of 2025.Materials Sciences Division (MSD)The Materials Sciences Division – formerly known as TA Division – delivered reported revenue of $79 million in the quarter, compared to $75 million for the first quarter of 2025.A description and reconciliation of GAAP to non-GAAP results appear in the tables below and can be found on the Company's website www.waters.com in the Investor Relations section. Full-Year and Second Quarter 2026 Financial GuidanceFull-Year 2026 Financial GuidanceThe Company is raising its full-year 2026 organic, constant currency revenue growth guidance to the range of 6.5% to 8.0%. Including the impact of currency translation, full-year 2026 organic reported revenue is expected to be in the range of $3.370 billion to $3.420 billion. This guidance includes $15 million of expected revenue synergies.The Company now expects full-year 2026 acquired business reported revenue of approximately $3.035 billion on an owned-period basis, which includes $35 million of expected revenue synergies.Total Company reported revenue for full-year 2026 is expected to be in the range of $6.405 billion to $6.455 billion.The Company is raising its full-year 2026 adjusted EPS guidance to $14.40 to $14.60. This represents year-over-year adjusted EPS growth of 10% to 11%.Second Quarter 2026 Financial GuidanceThe Company expects second quarter 2026 organic constant currency revenue growth to be in the range of 6.0% to 8.0%. Including the impact of currency translation, second quarter 2026 organic reported revenue is expected to be in the range of $814 million to $829 million.The Company expects acquired business reported revenue for the second quarter 2026 to be approximately $802 million.Total Company reported revenue for the second quarter of 2026 is expected to be in the range of $1.616 billion to $1.631 billion.The Company expects second quarter 2026 adjusted EPS to be in the range of $2.95 to $3.05, which represents flat to 3.4% year-over-year adjusted EPS growth.Please refer to the tables below for a reconciliation of the projected GAAP to non-GAAP financial outlook for the full-year and second quarter. The Company is unable to provide reconciliations of forward-looking presentations of adjusted EPS guidance measures to the most directly comparable GAAP measures. Such reconciliations cannot be prepared without unreasonable efforts due to the inherent difficulty and unpredictability in forecasting and quantifying certain amounts that would be necessary for such reconciliations, including acquisition-related amortization, acquisition and restructuring costs, as well as certain legal, advisory and tax costs, or other costs that may arise, which amounts could be significant and could have a material impact on the Company's future GAAP financial results.Conference Call DetailsWaters Corporation will webcast its first quarter 2026 financial results conference call today, May 5, 2026, at 8:30 a.m. Eastern Time. To listen to the call and see the accompanying slide presentation, please visit www.waters.com, select "Investor Relations" under the "About Waters" section, navigate to "Events & Presentations," and click on the "Webcast." A replay will be available through at least June 2, 2026.About Waters CorporationWaters Corporation (NYSE:WAT) is a global leader in life sciences, dedicated to accelerating the benefits of pioneering science through analytical technologies, informatics, and service. With a focus on regulated, high-volume testing environments, our innovative portfolio harnesses deep scientific expertise across chemistry, physics, and biology. We collaborate with analytical laboratories around the world to advance the release of effective, high-quality medicines, assure the safety of food and water, and drive better patient outcomes by detecting diseases earlier, managing routine infections, and combatting growing antibiotic resistance. Through a shared culture of relentless innovation, our passionate team of approximately 16,000 employees partner with our customers to turn scientific challenges into breakthroughs that improve lives worldwide.Non-GAAP Financial MeasuresThis release contains financial measures, such as organic constant currency growth rates, constant currency growth rates, pro forma comparable revenue, and adjusted earnings per diluted share, among others, which are considered "non-GAAP" financial measures under applicable U.S. Securities and Exchange Commission rules and regulations. These non-GAAP financial measures should be considered supplemental to, and not a substitute for, financial information prepared in accordance with U.S. generally accepted accounting principles (GAAP). The Company's definitions of these non-GAAP measures may differ from similarly titled measures used by others. The non-GAAP financial measures used in this release adjust for specified items that can be highly variable or difficult to predict. The Company generally uses these non-GAAP financial measures to facilitate management's financial and operational decision-making, including evaluation of the Company's historical operating results, comparison to competitors' operating results and determination of management incentive compensation. These non-GAAP financial measures reflect an additional way of viewing aspects of the Company's operations that, when viewed with GAAP results and the reconciliations to corresponding GAAP financial measures, may provide a more complete understanding of factors and trends affecting the Company's business. Because non-GAAP financial measures exclude the effect of items that will increase or decrease the Company's reported results of operations, management strongly encourages investors to review the Company's consolidated financial statements and publicly filed reports in their entirety. Definitions of the non-GAAP financial measures and reconciliations to the most directly comparable GAAP financial measures are included in the tables accompanying this release.Cautionary StatementThis release contains "forward-looking" statements regarding future results and events. For this purpose, any statements that are not statements of historical fact may be deemed forward-looking statements. Without limiting the foregoing, the words "feels," "believes," "anticipates," "plans," "expects," "intends," "suggests," "appears," "estimates," "projects," and similar expressions, whether in the negative or affirmative, are intended to identify forward-looking statements. Our actual results may differ significantly from the results discussed in the forward-looking statements within this release for a variety of reasons, including and without limitation, risks or uncertainties related to our acquisition of Becton, Dickinson and Company's Biosciences and Diagnostic Solutions business (the "BDS Business"), including failure to realize the anticipated benefits of this acquisition, including as a result of delay in integrating the BDS Business with the Company on the expected timeframe or at all, and the ability of the Company to implement its business strategy and achieve revenue and cost synergies, anticipated progress on Waters' research programs, development of new analytical instruments and associated software or consumables, manufacturing development and capabilities, our future financial and operational performance, future economic and market conditions, including our expectations about the growth rates of certain markets, our strategic initiatives, including our instrument replacement initiatives, respond and adapt to changing global dynamics, including the potential impacts of tariffs and supply chain challenges, our ability to retain and attract customers in various geographies and market segments, our market size and growth opportunities, our competitive positioning, projected costs, technological capabilities and plans, and objectives of management, and other risk factors detailed from time to time in Waters' reports filed with the Securities and Exchange Commission ("SEC"). Such factors and others are discussed more fully in the sections entitled "Forward-Looking Statements" and "Risk Factors" of the Company's annual report on Form 10-K for the year ended December 31, 2025, as filed with the SEC, which discussions are incorporated by reference in this release, as updated by the Company's subsequent filings with the SEC. The forward-looking statements included in this release represent the Company's estimates or views as of the date of this release and should not be relied upon as representing the Company's estimates or views as of any date subsequent to the date of this release. Except as required by law, the Company does not assume any obligation to update any forward-looking statements.Waters Corporation and SubsidiariesConsolidated Statements of Operations(In millions, except per share data)(Unaudited)






Three Months Ended
April 4, 2026
March 29, 2025



Net revenue$                   1,267
$                      662



Costs and operating expenses:


Cost of revenue (includes $99 million of fair value adjustments) (a)672
277Selling and administrative expenses 394
175Research and development expenses 96
47Purchased intangibles amortization (b)152
12



Operating (loss) income (47)
151



Other income, net1
2Interest expense, net(42)
(10)



(Loss) income from operations before income taxes(88)
143



(Benefit) provision for income taxes(16)
22



Net (loss) income$                      (72)
$                      121







Net (loss) income per basic common share$                   (0.87)
$                     2.04



Weighted-average number of basic common shares82,139
59,439







Net (loss) income per diluted common share$                   (0.87)
$                     2.03



Weighted-average number of diluted common shares and equivalents82,139
59,711




(a) Cost of revenue for the three months ended April 4, 2026 includes $99 million of purchase accounting adjustments related to the fair value inventory
and fixed asset step up since the BDS acquisition date.  (b) Purchased intangibles amortization for the three months ended April 4, 2026 includes $140 million of purchase accounting adjustments related to the
amortization of the BDS acquisition purchased intangibles since the BDS acquisition date.  Waters Corporation and SubsidiariesReconciliation of GAAP to Adjusted Non-GAAPRevenue by Operating Segment, Product & Service, and GeographyThree Months Ended April 4, 2026 and March 29, 2025(In millions)

























Three Months Ended
Reported



April 4, 2026 (b)
March 29, 2025
Growth










REVENUE - OPERATING SEGMENT








Analytical Sciences Division (ASD)
$607
$534
14 %
Biosciences Division (WBD)

232

-
**
Advanced Diagnostics Division (ADx)

349

53
560 %
Materials Sciences Division (MSD)

79

75
6 %Total Revenue
$1,267
$662
91 %










REVENUE - PRODUCT & SERVICE








Product
$919
$401
129 %
Service

348

261
33 %Total Revenue
$1,267
$662
91 %










REVENUE - GEOGRAPHY








Asia
$350
$221
58 %
Americas

505

256
98 %
Europe

412

185
122 %Total Revenue
$1,267
$662
91 %










Reconciliation of Organic Revenue Growth








Total Reported Revenue (GAAP)
$1,267
$662
91 %
Acquired Business Contribution

520





Total Organic Reported Revenue
$747





Organic Reported Revenue Growth

13 %





Currency Translation Impact

2 %





Organic Constant Currency Revenue Growth (a)

11 %















Reconciliation of Pro Forma Acquired Company Revenue for Period Owned (c)








Prior Year Full Quarter Revenue



$792


Less: Revenue Adjustments for Pre-Owned Period




307


Pro Forma Comparable Revenue
$520
$485
7 %


















**Percentage not meaningful







(a)The Company believes that referring to comparable organic constant currency growth rates is a useful way to evaluate the underlying performance of Waters Corporation's net revenue. Organic constant currency growth, a non-GAAP financial measure, measures the change in net revenue between current and prior year periods, excluding the impact of foreign currency exchange rates during the current period and excluding the impact of acquisitions made within twelve months of the acquisition close date. See description of non-GAAP financial measures contained in this release.

(b)Waters Corporation revenue for the three months ended April 4, 2026 includes the results of the BDS Business acquisition from date of acquisition February 9, 2026 through April 4, 2026.

(c)The Company believes that referring to pro forma comparable revenue is a useful way to evaluate the underlying performance of the business. Pro forma comparable revenue reflects acquired company (Biosciences & Diagnostic Solutions) revenue where growth rates are presented on an as reported basis, covering revenue for the owned period portion of the quarter from February 9, 2026, the transaction close date, through the end of the quarter, with growth compared against the pro forma comparable revenue estimate for the prior year equivalent partial quarter period that predates Waters' ownership.  Waters Corporation and SubsidiariesReconciliation of GAAP to Adjusted Non-GAAP FinancialsThree Months Ended April 4, 2026 and March 29, 2025(In millions, except per share data)

















































Operating




(Loss) Income

(Benefit)




Diluted







Selling &

Research &

Operating

(Loss)

Interest

before

Provision for




(Loss)




Cost of

Administrative

Development

(Loss)

Income

Expense,

Income

Income

Net (Loss)

Earnings




Revenue

Expenses(a)

Expenses

Income

Percentage

Net

Taxes

Taxes

Income

per ShareThree Months Ended April 4, 2026





























GAAP

$672
$546
$96
$(47)

(3.7 %)
$(42)
$(88)
$(16)
$(72)
$(0.87)Adjustments:































Purchased intangibles and acquisition step-up amortization (b)

(99)

(152)

-

251

19.8 %

-

251

41

210

2.55
Restructuring costs and certain other items (c)

-

(4)

-

4

0.3 %

-

4

1

3

0.04
ERP implementation and transformation costs (d)

-

(9)

-

9

0.7 %

-

9

1

8

0.09
Acquisition related costs (e)

-

(82)

(1)

83

6.5 %

-

83

14

69

0.84
Financing costs (g)

-

-

-

-

-

4

4

-

4

0.04Adjusted Non-GAAP

$573
$299
$95
$300

23.6 %
$(38)
$263
$41
$222
$2.70
































Three Months Ended March 29, 2025





























GAAP

$277
$187
$47
$151

22.9 %
$(10)
$143
$22
$121
$2.03Adjustments:































Purchased intangibles amortization (b)

-

(12)

-

12

1.8 %

-

12

3

9

0.15
Restructuring costs and certain other items (c)

-

(1)

-

1

0.1 %

-

1

-

1

0.01
ERP implementation and transformation costs (d)

-

(2)

-

2

0.3 %

-

2

1

1

0.03
Retention bonus obligation (f)

-

(2)

(1)

3

0.4 %

-

3

1

2

0.03Adjusted Non-GAAP

$277
$170
$46
$169

25.5 %
$(10)
$161
$27
$134
$2.25

































































(a)Selling & administrative expenses include purchased intangibles amortization.(b)The amortization of purchased intangibles and acquisition-related inventory and fixed asset fair value step-up, which are non-cash expenses, were excluded to be consistent with how management evaluates the performance of its core business against historical operating results and the operating results of competitors over periods of time.(c)Restructuring costs and certain other items were excluded as the Company believes that the cost to consolidate operations, reduce overhead, and certain other income or expense items are not normal and do not represent future ongoing business expenses of a specific function or geographic location of the Company.(d)ERP implementation and transformation costs represent costs related to the Company's initiative to transition from its legacy enterprise resource planning (ERP) system to a new global ERP solution with a cloud-based infrastructure. These costs, which do not represent normal or future ongoing business expenses, are one-time, non-recurring costs related to the establishment of our new global ERP solution that were determined to be non-capitalizable in accordance with accounting standards.(e)Acquisition related costs include all incremental costs incurred to effect the business combination, such as advisory, legal, accounting, tax, valuation, other professional fees, and integration costs. The Company believes that these costs are not normal and do not represent future ongoing business expenses.(f)In connection with the Wyatt acquisition, the Company recognized a two-year retention bonus obligation that is contingent upon the employee's providing future service and continued employment with Waters. The Company believes that these costs are not normal and do not represent future ongoing business expenses.(g)Financing costs relate to certain financing fees incurred by the Company to secure access to certain debt facilities in connection with the agreement Waters entered into to acquire the Biosciences and Diagnostics Solutions business of Becton, Dickinson & Company. The Company believes that these costs are not normal and do not represent future ongoing business expenses.  Waters Corporation and SubsidiariesPreliminary Condensed Unclassified Consolidated Balance Sheets(In millions and unaudited)
















April 4, 2026
December 31, 2025




Cash and cash equivalents
$                        462
$                        588Accounts receivable
1,759
829Inventories
1,496
572Property, plant and equipment, net
1,520
642Intangible assets, net
8,779
558Goodwill
9,317
1,340Other assets
1,198
548   Total assets
$                   24,531
$                     5,077









Notes payable and debt
$                     5,215
$                     1,407Other liabilities
4,024
1,108Total liabilities
9,239
2,515




Total stockholders' equity
15,292
2,562   Total liabilities and stockholders' equity
$                   24,531
$                     5,077 Waters Corporation and SubsidiariesPreliminary Condensed Consolidated Statements of Cash FlowsThree Months Ended April 4, 2026 and March 29, 2025(In millions and unaudited)










Three Months Ended



April 4, 2026
March 29, 2025




Cash flows from operating activities:



Net (loss) income$                      (72)
$                      121
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:




Stock-based compensation20
13

Depreciation and amortization207
49

Amortization of acquisition-related inventory and fixed asset step-up99
-

Change in operating assets and liabilities and other, net (b)(257)
77


Net cash (used in) provided by operating activities(3)
260






Cash flows from investing activities:



Additions to property, plant, equipment, and software capitalization(39)
(26)
Cash acquired in business acquisition144
-
Investments in unaffiliated companies(10)
-


Net cash provided by (used in) investing activities95
(26)






Cash flows from financing activities:



Proceeds from debt issuances 3,530
-
Payments on debt(3,700)
(170)
Payments of debt issuance costs(25)
-
Proceeds from stock plans3
8
Purchases of treasury shares(12)
(14)
Other cash flow from financing activities, net(9)
3


Net cash used in financing activities(213)
(173)






Effect of exchange rate changes on cash and cash equivalents(5)
(3)


(Decrease) increase in cash and cash equivalents(126)
58Cash and cash equivalents at beginning of period588
325


Cash and cash equivalents at end of period$                      462
$                      383













Reconciliation of Free Cash Flow - Adjusted Non-GAAP (a)


Net cash (used in) provided by operating activities - GAAP$                        (3)
$                      260Adjustments:



Additions to property, plant, equipment, and software capitalization(39)
(26)Free Cash Flow - Adjusted Non-GAAP$                      (42)
$                      234






(a)The Company defines free cash flow as net cash flow from operations accounted for under GAAP less capital expenditures and software capitalizations plus or minus any unusual and non recurring items. Free cash flow is not a GAAP measurement and may not be comparable to free cash flow reported by other companies.






(b)Includes a net $140 million receivable due from the BDS acquisition TSA provider relating to the initial net cash settlement for activity since the acquisition date.    Waters Corporation and SubsidiariesReconciliation of Projected GAAP to Adjusted Non-GAAP Financial Outlook(In millions, except per share data)






















Twelve Months Ended
Three Months Ended


December 31, 2026
July 4, 2026



Range


Range
Projected Revenue







Reported revenue$     6,405-$     6,455
$     1,616-$     1,631
Acquired business contribution$     3,035-$     3,035
$        802-$        802
Organic reported revenue$     3,370-$     3,420
$        814-$        829
Organic reported revenue growth6.5 %-8.0 %
5.5 %-7.5 %
Currency translation impact0.0 %-0.0 %
(0.5 %)-(0.5 %)
Organic constant currency revenue growth (a)6.5 %-8.0 %
6.0 %-8.0 %













Range


Range
Projected Earnings Per Diluted Share







Adjusted earnings per share$     14.40-$     14.60
$       2.95-$       3.05









(a)Organic constant currency growth rates are a non-GAAP financial measure that measures the change in net revenue between current and prior year periods, excluding the impact of foreign currency exchange rates during the current period and excluding the impact of acquisitions made within twelve months of the acquisition close date. These amounts are estimated at the current foreign currency exchange rates and based on the forecasted geographical revenue in local currency, as well as an assessment of market conditions as of the date of this press release, and may differ significantly from actual results.











These forward-looking adjustment estimates do not reflect future gains and charges that are inherently difficult to predict and estimate due to their unknown timing, effect and/or significance.




Contact: Caspar Tudor, Head of Investor Relations – (508) 482-3448 View original content:https://www.prnewswire.co.uk/news-releases/waters-corporation-nyse-wat-reports-first-quarter-2026-financial-results-302761909.html Original: Waters Corporation (NYSE: WAT) Reports First Quarter 2026 Financial Results

Waters Corporation Schedules First Quarter 2026 Earnings Conference CallApril 20, 2026 4:15 PM
PR Newswire (US)

MILFORD, Mass., April 20, 2026 /PRNewswire/ -- Waters Corporation (NYSE:WAT) will hold its Q1 2026 financial results conference call on Tuesday, May 5, 2026 at 8:30 a.m. Eastern Time. A live webcast of the presentation will be available on Waters Investor Relations website at https://ir.waters.com. A replay of the webcast will also be available until at least June 2, 2026, at midnight Eastern Time.About Waters CorporationWaters Corporation (NYSE: WAT) is a global leader in life sciences and diagnostics, dedicated to accelerating the benefits of pioneering science through analytical technologies, informatics, and service. With a focus on regulated, high-volume testing environments, our innovative portfolio harnesses deep scientific expertise across chemistry, physics, and biology. We collaborate with customers around the world to advance the release of effective, high-quality medicines, ensure the safety of food and water, and drive better patient outcomes by detecting diseases earlier, managing routine infections, and combating antibiotic resistance. Through a shared culture of relentless innovation, our passionate team of ~16,000 colleagues turn scientific challenges into breakthroughs that improve lives worldwide. For more information, please visit www.waters.com/about.Caspar Tudor, Head of Investor Relations
investor_relations@waters.com



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Original: Waters Corporation Schedules First Quarter 2026 Earnings Conference Call

Waters Prices Offering of Senior NotesMarch 18, 2026 6:00 AM
PR Newswire (US)

MILFORD, Mass., March 18, 2026 /PRNewswire/ -- Waters Corporation (NYSE: WAT) (the "Company" or "Waters") today announced that it has priced an offering (the "Offering") of $3.5 billion aggregate principal amount of the following senior notes issued by its subsidiary, Augusta SpinCo Corporation ("Augusta"):
$650 million aggregate principal amount of 4.321% Senior Notes due 2027 at the issue price of 100.000% of their principal amount;$600 million aggregate principal amount of 4.398% Senior Notes due 2029 at the issue price of 100.000% of their principal amount;$750 million aggregate principal amount of 4.656% Senior Notes due 2031 at the issue price of 100.000% of their principal amount;$750 million aggregate principal amount of 4.945% Senior Notes due 2033 at the issue price of 100.000% of their principal amount; and$750 million aggregate principal amount of 5.245% Senior Notes due 2036 at the issue price of 100.000% of their principal amount (collectively, the "Notes").The Offering is expected to close on or about March 23, 2026, subject to the satisfaction of customary closing conditions.The Notes will be fully and unconditionally guaranteed by Waters and certain of its direct and indirect subsidiaries. Waters intends to use the net proceeds from the Offering, together with cash on hand, to repay $3.5 billion of indebtedness outstanding under the delayed draw term loan incurred by Augusta in February 2026.Barclays Capital Inc. is acting as global coordinator and Citigroup Global Markets Inc., J.P. Morgan Securities LLC, BofA Securities, Inc. and HSBC Securities (USA) Inc. are acting as active bookrunners for the Offering.The Offering is being made pursuant to an effective shelf registration statement on Form S-3ASR (File No. 333-294314) filed by Waters with the U.S. Securities and Exchange Commission (the "SEC") under the Securities Act of 1933, as amended. The Offering will be made by means of a prospectus supplement and accompanying prospectus only. A copy of the preliminary prospectus supplement and accompanying prospectus are available on the SEC's website at www.sec.gov. Alternatively, any underwriter or any dealer participating in the Offering will arrange to send you the preliminary prospectus supplement (or, if available, the prospectus supplement) and the accompanying prospectus if you request them by contacting: Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by toll-free phone: (888) 603-5847 or by email: barclaysprospectus@broadridge.com; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at prospectus @; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests @shazaam-02-25, Charlotte, NC 28255-0001, Attention: Prospectus Department, at dg.prospectus_requests @Georgia Bard-294-1322; or HSBC Securities (USA) Inc., 66 Hudson Boulevard, New York, NY 10001, Attention: Debt Capital Markets or by calling (866) 811-8049.This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the Notes or any other securities. No offer, solicitation or sale will be made in any jurisdiction in which such an offer, solicitation or sale would be unlawful.About Waters Corporation Waters Corporation (NYSE: WAT) is a global leader in life sciences and diagnostics, dedicated to accelerating the benefits of pioneering science through analytical technologies, informatics, and service. With a focus on regulated, high-volume testing environments, our innovative portfolio harnesses deep scientific expertise across chemistry, physics, and biology. We collaborate with customers around the world to advance the release of effective, high-quality medicines, ensure the safety of food and water, and drive better patient outcomes by detecting diseases earlier, managing routine infections, and combating antibiotic resistance. Through a shared culture of relentless innovation, our passionate team of approximately 16,000 colleagues turn scientific challenges into breakthroughs that improve lives worldwide.Forward-Looking StatementsThis release contains "forward-looking" statements regarding future results and events, including statements regarding the Offering. For this purpose, any statements that are not statements of historical fact may be deemed forward-looking statements. Without limiting the foregoing, the words "will," "feels", "believes", "anticipates", "plans", "expects", "intends", "suggests", "appears", "estimates", "projects" and similar expressions, whether in the negative or affirmative, are intended to identify forward-looking statements. Our actual future results may differ significantly from the results discussed in the forward-looking statements within this release for a variety of reasons, including and without limitation, our ability to complete the Offering, risks and uncertainties relating to general market conditions which might affect the Offering and other risk factors detailed from time to time in Waters' reports filed with the SEC. Such factors and others that are discussed more fully in the sections entitled "Forward-Looking Statements" and "Risk Factors" of Waters' annual report on Form 10-K for the year ended December 31, 2025 as filed with the SEC, which discussions are incorporated by reference in this release, as updated by Waters' subsequent filings with the SEC. The forward-looking statements included in this release represent Waters' estimates or views as of the date of this release and should not be relied upon as representing Waters' estimates or views as of any date subsequent to the date of this release. Except as required by law, Waters does not assume any obligation to update any forward-looking statements.Contacts Molly Gluck 
Head of External Communications
Waters Corporation
508.498.9732
PR@waters.com Caspar Tudor 
Head of Investor Relations
Waters Corporation
508.482.3448
investor_relations@waters.com



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Original: Waters Prices Offering of Senior Notes

Waters Flagship ARES-G3 Rheometer Sets New Benchmark for Data Quality at Breakthrough SpeedMarch 9, 2026 8:00 AM
PR Newswire (US)

News Summary:Reduces standard testing times by 80%.1Delivers an industry-leading 25,000 data points per second, detecting transient material behaviors previously invisible to measurement. 2Operates with fewer calibrations and superior atmosphere and temperature control. 3SAN ANTONIO, Texas and MILFORD, Mass., March 9, 2026 /PRNewswire/ -- Pittcon 2026 Conference + Exposition -- Waters Corporation (NYSE: WAT) today launched the ARES-G3™ Rheometer, part of the TA Instruments product line. This next-generation rheometer delivers industry-leading speed paired with best-in-class data to accelerate materials research and product development. Capturing up to 25,000 data points per second (10x more than its predecessor) and cutting standard test times by up to 80% through fully integrated Fast Frequency Chirps, the ARES-G3 Rheometer addresses pressing industry limitations. As scientists and materials innovators pursue a deeper understanding of complex material behavior, this product unlocks new capabilities and outcomes across polymer and composites development, liquid and semi-liquid coatings, and fundamental research."Rheology labs are under enormous pressure to deliver better data, faster, to unlock breakthroughs and support business decisions," said Dan Rush, Senior Vice President, Waters Materials Sciences, Waters Corporation. "We're pleased to deliver a cutting-edge instrument that can provide unique data in record time, providing novel insights and empowering our customers to meet these increasing demands."The ARES-G3 Rheometer enables shortened experiment times, increased lab throughput, and previously unobtainable measurements of fast-changing samples in a single test. Because it fully integrates a Fast Frequency Chirps solution into its enhanced TRIOS™ Software, the ARES-G3 Rheometer eliminates the need for multiple software licenses and training in advanced programming packages to capture and process data through rapid frequency sweeps. Routine quality control tests and data generation can also be completed up to 80% faster than before with some tests reduced from six hours to one; this translates to accelerated workflows that save teams hundreds of workdays per year under typical conditions, without sacrificing data quality. The ARES-G3 Rheometer can also perform many tests without requiring user calibrations, reducing margin for human error and increasing confidence in measurements."For years, rheologists have struggled to capture in-depth data on materials that are actively curing or degrading. The kinetics are so fast that conventional rheometers miss the critical information," said Chris Macosko, Ph.D., Professor Emeritus, Department of Chemical Engineering and Materials Science, University of Minnesota. "Integrating Fast Frequency Chirps and precise temperature control means we can now generate time-temperature-dependent data in one-fifth of the usual time. The new ARES-G3 Rheometer delivers the accurate and consistent data that we need to succeed."The ARES-G3 Rheometer builds on the flagship legacy of its predecessor, improving at-instrument control with a new touchscreen, enhancing data capture with hardware and software updates, and preserving its core proprietary, fully integrated dynamic mechanical analysis (DMA) capabilities and purpose-built hardware for both stress measurement and strain control. Retaining the best-in-class oven of the ARES-G2 Rheometer, this next-generation rheometer delivers leading low-oxygen atmosphere control and temperature uniformity, further simplifying the process of simulating real-world processing conditions, and enabling scientists to explore new rheological methods and gain a deeper understanding of structure-property relationships.All existing ARES-G2 Rheometer methods and fixtures remain fully compatible with the ARES-G3 Rheometer. The Waters TA Instruments ARES-G3 Rheometer is available for order today.Additional Resources:Product PageWaters, ARES, TRIOS, and TA Instruments are trademarks of Waters Corporation or its affiliates. All other marks are the property of their respective owners.About: Waters Corporation (NYSE: WAT) is a global leader in life sciences and diagnostics, dedicated to accelerating the benefits of pioneering science through analytical technologies, informatics, and service. With a focus on regulated, high-volume testing environments, our innovative portfolio harnesses deep scientific expertise across chemistry, physics, and biology. We collaborate with customers around the world to advance the release of effective, high-quality medicines, ensure the safety of food and water, and drive better patient outcomes by detecting diseases earlier, managing routine infections, and combating antibiotic resistance. Through a shared culture of relentless innovation, our passionate team of ~16,000 colleagues turn scientific challenges into breakthroughs that improve lives worldwide. For more information, please visit www.waters.com/about.References:
1 When using Fast Frequency Chirps compared to standard master curve and frequency sweep test methods.
2 When compared to the ARES-G2 Rheometer.
3 When compared to conventional, combined-motor-transducer (CMT) rheometers and oven accessories.Contact:
Molly Gluck
Head of External Communications
Waters Corporation
+1.508.498.9732
molly_gluck@waters.com 










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Original: Waters Flagship ARES-G3 Rheometer Sets New Benchmark for Data Quality at Breakthrough Speed

Waters Corporation to Present at the TD Cowen Health Care ConferenceFebruary 23, 2026 4:45 PM
PR Newswire (US)

MILFORD, Mass., Feb. 23, 2026 /PRNewswire/ -- Waters Corporation (NYSE:WAT) announced that Udit Batra, Ph.D., Waters President and Chief Executive Officer, will participate in a fireside chat at the TD Cowen Health Care Conference on Monday, March 2nd, 2026, at 11:10 AM Eastern Time.A live webcast of the event will be available on the 'Events & Presentations' section of Waters Investor Relations website at https://ir.waters.com. A replay of the webcast will be available for 90 days.About Waters Corporation Waters Corporation (NYSE: WAT) is a global leader in life sciences and diagnostics, dedicated to accelerating the benefits of pioneering science through analytical technologies, informatics, and service. With a focus on regulated, high-volume testing environments, our innovative portfolio harnesses deep scientific expertise across chemistry, physics, and biology. We collaborate with customers around the world to advance the release of effective, high-quality medicines, ensure the safety of food and water, and drive better patient outcomes by detecting diseases earlier, managing routine infections, and combating antibiotic resistance. Through a shared culture of relentless innovation, our passionate team of ~16,000 colleagues turn scientific challenges into breakthroughs that improve lives worldwide. For more information, please visit www.waters.com/about.Caspar Tudor, Head of Investor Relations
investor_relations@waters.com



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Original: Waters Corporation to Present at the TD Cowen Health Care Conference

Waters Introduces Next-Generation Microflow LC Columns with MaxPeak Premier Technology, Delivering Higher Sensitivity with Lower Sample and Solvent UsageFebruary 17, 2026 8:00 AM
PR Newswire (US)

Headlines:Delivers up to 2× higher sensitivity than stainless steel microflow columns, lowering detection and quantitation limits across high-throughput bioseparations, DMPK, and 'omics applications.1 Uses up to 75% less sample than 2.1 mm I.D. columns, conserving precious materials such as cell and gene therapy and personalized medicine candidates while delivering deeper insights. 2 Reduces solvent consumption by up to 4× versus 2.1 mm I.D. columns, helping laboratories meet sustainability goals, lower operating costs, and accelerate time to results without compromising performance. 2 MILFORD, Mass., Feb. 17, 2026 /PRNewswire/ -- Waters Corporation (NYSE: WAT) today launched 1 mm I.D. liquid chromatography (LC) columns with Waters' MaxPeak™ Premier Technology for its ACQUITY™, BioResolve™, and GTxResolve™ Column brands. Significantly improving sensitivity while minimizing solvent and sample waste, the new microflow columns deliver high-quality results across bioanalysis, pharmaceutical discovery and development, and metabolomics, proteomics and lipidomics – all areas where both sample availability and time are limited.
This launch builds on the Company's strong cadence of high-impact chemistry innovation, redefining what is possible in the separation of larger, more complex molecules by exceeding the limits of current technologies."Waters continues to invest in the advancement of breakthrough technologies to remove common obstacles for our customers in high-throughput pharmaceutical and biopharmaceutical laboratories, accelerating and simplifying the development of life-changing therapies," said Rob Carpio, Senior Vice President, Waters Analytical Sciences, Waters Corporation. "We know that in disciplines such as cell and gene therapy and personalized cancer medicines, sample availability is limited and analyte recovery is critical. Today, we are proud to introduce our new microflow LC columns with MaxPeak Premier Technology that protect these precious assets, while raising the bar on sensitivity, data quality, and reproducibility."The new microflow LC columns apply Waters' MaxPeak High Performance Surface (HPS) Technology to a 1 mm I.D. format. This significant advancement minimizes nonspecific adsorption (NSA) and improves recovery for small molecules, peptides, and oligonucleotides. MaxPeak HPS Technology is of particular benefit for those investigating molecules with challenging analyte recovery, such as phosphorylated peptides, by removing analytical barriers and speeding workflows."We saw a strong benefit matching, or even exceeding, our analytical sensitivity requirements when switching from 2.1 mm I.D. stainless steel columns to Waters' MaxPeak Premier Technology columns. It's great to have MaxPeak Technology now available in 1 mm I.D. microflow columns. They'll give our metabolomics team the opportunity to save solvent while delivering reproducible, fast, and highly accurate results in high-throughput operations," said Oliver Fiehn, Ph.D., Professor, University of California, Davis.Using these columns, scientists can consistently expect sharper peaks, enhanced peak capacity, and reduced peak tailing even at low flow rates, along with highly reproducible performance from the very first injection. These benefits significantly reduce the time and variability associated with column passivation in traditional stainless steel column designs. For customers transitioning from 2.1 mm I.D. analytical-scale LC columns to microflow formats, the new 1 mm I.D. columns deliver equivalent or improved sensitivity, while using only one-quarter of the solvent and sample required for analytical flow, helping labs meet their environmental goals while improving analytical performance.The new 1 mm I.D. columns with Waters' MaxPeak Premier Technology will be available globally beginning February 17, 2026, with immediate shipment.Additional Resources: Microflow Columns with MaxPeak Premier TechnologyWaters, MaxPeak, ACQUITY, BioResolve and GTxResolve are trademarks of Waters Corporation or its affiliates. ABOUT: Waters Corporation (NYSE: WAT) is a global leader in life sciences and diagnostics, dedicated to accelerating the benefits of pioneering science through analytical technologies, informatics, and service. With a focus on regulated, high-volume testing environments, our innovative portfolio harnesses deep scientific expertise across chemistry, physics, and biology. We collaborate with customers around the world to advance the release of effective, high-quality medicines, ensure the safety of food and water, and drive better patient outcomes by detecting diseases earlier, managing routine infections, and combating antibiotic resistance. Through a shared culture of relentless innovation, our passionate team of ~16,000 colleagues turn scientific challenges into breakthroughs that improve lives worldwide. For more information, please visit www.waters.com/about.References:1. Application note: "Enhanced Recovery and Peak Shape of Acidic Peptides with BioResolve™ 1 mm I.D. Columns with MaxPeak™ Premier Technology" 2. Application note: "Improving Sensitivity and Analytical Method Greenness using MaxPeak™ Premier 1.0 mm I.D. Columns"Contact:?
Molly Gluck
Head of External Communications
Waters Corporation?
508.498.9732
molly_gluck@waters.com? Photo - https://mma.prnewswire.com/media/2904894/MaxPeak_Premier_Columns_logo.jpg
Logo - https://mma.prnewswire.com/media/2071755/Waters_Corporation_Logo.jpg



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Original: Waters Introduces Next-Generation Microflow LC Columns with MaxPeak Premier Technology, Delivering Higher Sensitivity with Lower Sample and Solvent Usage

Waters Slides After Q1 Outlook Falls Short Despite Solid Q4 BeatFebruary 9, 2026 10:05 AM
IH Market News
Waters Corporation (NYSE:WAT) shares dropped more than 3% in premarket trading on Monday after the company issued first-quarter earnings guidance that missed market expectations, overshadowing better-than-expected fourth-quarter results.The analytical instruments group reported fourth-quarter adjusted earnings of $4.53 per share, narrowly topping analyst forecasts of $4.51. Revenue came in at $932 million, also slightly ahead of the $928.09 million consensus estimate. Sales increased 7% year over year on a reported basis, or 6% in constant currency.Despite the Q4 beat, investor focus turned to the outlook. For the first quarter of 2026, Waters projected adjusted earnings of $2.25 to $2.35 per share, well below analysts’ expectations of $2.51. Revenue guidance for the quarter was stronger, at $1.198 billion to $1.211 billion, but the earnings shortfall appeared to drive the negative market reaction.“Our team delivered industry-leading results in 2025, achieving high single-digit revenue growth and double-digit adjusted EPS growth. We expect this momentum to continue into 2026,” said Udit Batra, President & Chief Executive Officer of Waters Corporation.Fourth-quarter growth was driven by strength in pharmaceutical and industrial end markets, each posting 8% growth on a reported basis. Chemistry revenue stood out, rising 12% in constant currency as new bioseparations products saw robust customer uptake.By region, reported sales in Europe jumped 13%, while Asia and the Americas both recorded 4% growth. Recurring revenue, which includes service contracts and precision chemistries, increased 10% year over year.Looking ahead to the full year 2026, Waters expects organic constant-currency revenue growth of 5.5% to 7.0% and adjusted earnings of $14.30 to $14.50 per share, broadly in line with the analyst consensus of $14.32.The company also confirmed it plans to complete its acquisition of BD Biosciences and Diagnostic Solutions, a deal expected to add roughly $3 billion to reported revenue in 2026.Waters Corporation stock price

Original: Waters Slides After Q1 Outlook Falls Short Despite Solid Q4 Beat

BD Completes Combination of Biosciences & Diagnostic Solutions Business with Waters CorporationFebruary 9, 2026 8:40 AM
PR Newswire (US)

FRANKLIN LAKES, N.J., Feb. 9, 2026 /PRNewswire/ -- BD (Becton, Dickinson and Company) (NYSE: BDX) today announced the successful completion of the previously announced spin-off of BD's Biosciences & Diagnostic Solutions business and the combination of the business with Waters Corporation (NYSE: WAT). In connection with the transaction, BD shareholders will receive approximately 0.135 shares of Waters common stock for each share of BD common stock that they held as of the close of business on February 5, 2026, the record date for the spin-off, with cash in lieu of any fractional shares of Waters common stock, and BD received $4 billion of cash. As of the closing of the transaction, BD's shareholders owned shares of Waters common stock representing 39.2% of the outstanding shares of the combined company on a fully diluted basis. Based on the closing price of Waters common stock on February 6, 2026, the transaction valued the BD Biosciences & Diagnostic Solutions business at $18.8 billion. BD expects to use $2 billion of the proceeds to repurchase BD common shares through an accelerated share repurchase program and the remaining $2 billion for debt repayment. Both initiatives are expected to be executed in the near term, subject to market conditions."The successful combination of our Biosciences & Diagnostic Solutions business with Waters marks the final milestone of our BD 2025 strategy, positioning BD for its next chapter as a focused, pure-play MedTech company built for the next era of healthcare. Over the last several years, we have deliberately shaped our portfolio – including divesting three substantial non-core assets and completing more than 20 strategic tuck-in acquisitions – to strengthen our presence in some of the most attractive areas in healthcare. As a result, BD is uniquely positioned to capitalize on the trends we've identified as shaping the future of healthcare: the rise of smarter connected devices and AI; the shift of care to more convenient settings; and rapid advances in technologies for chronic disease," said Tom Polen, Chairman, CEO, and President of BD. "Looking ahead, BD is accelerating execution through our Excellence Unleashed strategy – strengthening our commercial engine, leading with differentiated innovation, and delivering with exceptional quality and world-class operations. Combined with our global scale, leading positions in the majority of markets we serve, and highly recurring consumables model, we believe BD is well-positioned to generate durable revenue, margin, and cash flow growth to drive shareholder value," Polen added.BD also reported first-quarter fiscal year 2026 financial results today.Pursuant to the terms of the transaction agreement, Claire M. Fraser, Ph.D., has been appointed to the Waters Corporation Board of Directors effective upon the closing of the transaction, and is simultaneously stepping down from the BD Board of Directors, following nearly two decades of dedicated service.Polen concluded, "On behalf of the BD Board and management team, we thank Claire for her invaluable contributions to BD. Claire's leadership and expertise in genomics, infectious diseases and molecular diagnostics have been instrumental in guiding our company through transformative periods and shaping the strategic direction of BD. She will provide significant expertise to Waters as part of their Board, and we wish her continued success."Citi served as lead financial advisor to BD, and Evercore also served as a financial advisor. Wachtell, Lipton, Rosen & Katz served as lead legal counsel to BD.About BD BD is one of the world's largest pure-play medical technology companies with a Purpose of advancing the world of health™ by driving innovation across medical essentials, connected care, biopharma systems and interventional. The company supports those on the frontlines of healthcare by developing transformative technologies, services and solutions that optimize clinical operations and improve care for patients. Operating across the globe, with more than 60,000 employees, BD delivers billions of products annually that have a positive impact on global healthcare. By working in close collaboration with customers, BD can help enhance outcomes, lower costs, increase clinical efficiency, improve safety and expand access to healthcare. For more information on BD, please visit bd.com or connect with us on LinkedIn at www.linkedin.com/company/bd1/, X @BDandCo or Instagram @becton_dickinson.Cautionary Statement Regarding Forward-Looking StatementsThis press release contains forward-looking information about the completion of the transaction in which BD spun off its Biosciences & Diagnostic Solutions business and combined it with Waters Corporation, as well as BD's pipeline, Excellence Unleashed strategy and actions to enhance shareholder value, including their potential benefits, that involves substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things, failure to realize the anticipated benefits of the transaction with Waters; our ability to execute the Excellence Unleashed strategy; the uncertainties inherent in business and financial planning, including, without limitation, risks related to BD's business and prospects, adverse developments in BD's markets, or adverse developments in the U.S. or global capital markets, credit markets, regulatory environment or economies generally; and competitive developments.A further description of risks and uncertainties can be found in BD's reports filed with the SEC, including BD's annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and other documents filed with the SEC. Any forward-looking statements speak only as of the date of this press release. BD does not undertake, and expressly disclaims, any obligation to update any forward-looking statements, whether as a result of new information or developments, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.ContactsMedia
Matt Marcus
VP, Public Relations
Matt.Marcus@bd.comInvestors
Shawn Bevec
SVP, Investor Relations
Investor_Relations@bd.com



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Original: BD Completes Combination of Biosciences & Diagnostic Solutions Business with Waters Corporation

Waters Completes Combination with BD's Biosciences & Diagnostic Solutions BusinessesFebruary 9, 2026 8:40 AM
PR Newswire (Canada)

Announces appointment of Claire M. Fraser, Ph.D., to its Board of DirectorsForms a global life sciences and diagnostics leader focused on high-volume testing in regulated applicationsAnnounces formation of four divisions: Waters Analytical Sciences, Waters Biosciences, Waters Advanced Diagnostics, and Waters Materials SciencesMILFORD, Mass., Feb. 9, 2026 /CNW/ -- Waters Corporation (NYSE: WAT) ("Waters") today announced it has completed the previously announced combination with the Biosciences & Diagnostic Solutions businesses of Becton, Dickinson and Company (NYSE: BDX) ("BD"). The transaction forms a global life sciences and diagnostics leader, equipped with best-in-class technologies, and an industry-leading financial outlook. The Company also announced the appointment of Claire M. Fraser, Ph.D., to its Board of Directors (the "Waters Board"), increasing the size of the Waters Board to a total of 11 members.Dr. Fraser is a globally acclaimed genome scientist, with three decades of experience managing large research institutes. Most recently, she served as Director of The Institute for Genome Sciences, which she founded in 2007, at the University of Maryland School of Medicine, where she also served as a Professor of Medicine and Microbiology and Immunology. Dr. Fraser received a B.S. in Biology from Rensselaer Polytechnic Institute in Troy, NY, and a Ph.D. in Pharmacology from the State University of New York at Buffalo. "As we reach this important milestone, I want to welcome our new colleagues to Waters and Dr. Claire Fraser to our Board," said Flemming Ørnskov, M.D., M.P.H., Chairman, Waters. "Dr. Fraser is an internationally recognized scientist with an extensive background in genomics, infectious diseases, and molecular diagnostics. We will benefit from her expertise and deep knowledge of the business to help oversee our next era of growth and value creation.""Our combination with BD's Biosciences and Diagnostic Solutions businesses marks a pivotal moment for Waters, bringing together world-class scientific expertise across chemistry, physics, and biology, with rich histories of innovation," said Udit Batra, Ph.D., President and Chief Executive Officer, Waters. "As we enter this next chapter, our focus is clear: address our customers' unmet needs, deliver long-term value for our shareholders, and provide solutions that advance global health. Through our category-defining products and shared culture of innovation, I am confident that together we will accelerate the benefits of pioneering science."With the transaction now closed, Waters has established four divisions that reflect the Company's continued focus on high-volume testing in regulated applications and its decisive expansion into high-growth adjacent markets. The divisions bring together leading scientific teams to support the development and manufacturing of large and small molecule therapeutics and food and environmental testing, and to advance specialty diagnostics in attractive molecular, microbiology, and multiplex applications.Waters Analytical Sciences (formerly Waters Division, excluding Waters Clinical Business): comprised of products, service, and compliant informatics linked to separations science and physical molecular characterization, including liquid chromatography instruments, chemistry consumables, and mass spectrometry, UV, light scattering, and particle analysis detection technologies.
 Waters Biosciences (formerly BD Biosciences): comprised of products, service, and informatics linked to the field of biology, spanning cellular sorting and analysis, including flow cytometry instruments and reagents, and single-cell multiomics solutions.
 Waters Advanced Diagnostics (formerly BD Diagnostic Solutions and Waters Clinical Business): comprised of products and service for high-value diagnostic workflows in regulated clinical settings. This includes microbiology, molecular, LC-MS-based multiplex testing, automation solutions, and point-of-care testing.
 Waters Materials Sciences (formerly TA Division): comprised of products, service, and informatics spanning a diverse range of materials characterization techniques, including thermal analysis, rheology, and microcalorimetry, serving batteries, electronics, and pharmaceutical applications.Transaction InformationThe combination was effected through a Reverse Morris Trust transaction, where BD's Biosciences & Diagnostic Solutions businesses (the "Business") were spun off into a separate entity which merged with a wholly owned subsidiary of Waters, and thus became a wholly owned subsidiary of Waters. Upon consummation of the transaction, Waters shareholders prior to the closing of the transaction owned common stock representing 60.8% of the combined company on a fully diluted basis and BD shareholders owned 39.2% of the combined company on a fully diluted basis. In connection with the transaction, BD shareholders will receive approximately 0.135 shares of Waters common stock for each share of BD common stock that they held as of the close of business on February 5, 2026, the record date for the spin-off, with cash in lieu of any fractional shares of Waters common stock.Barclays served as financial advisor to Waters, and Kirkland & Ellis LLP served as lead legal counsel.About Waters Corporation Waters Corporation (NYSE: WAT) is a global leader in life sciences and diagnostics, dedicated to accelerating the benefits of pioneering science through analytical technologies, informatics, and service. With a focus on regulated, high-volume testing environments, our innovative portfolio harnesses deep scientific expertise across chemistry, physics, and biology. We collaborate with customers around the world to advance the release of effective, high-quality medicines, ensure the safety of food and water, and drive better patient outcomes by detecting diseases earlier, managing routine infections, and combating antibiotic resistance. Through a shared culture of relentless innovation, our passionate team of ~16,000 colleagues turn scientific challenges into breakthroughs that improve lives worldwide. For more information, please visit www.waters.com/combination. Cautionary StatementThis release contains "forward-looking" statements regarding future results and events, including statements regarding the expected benefits of the transaction. For this purpose, any statements that are not statements of historical fact may be deemed forward-looking statements. Without limiting the foregoing, the words "will," "feels", "believes", "anticipates", "plans", "expects", "intends", "suggests", "appears", "estimates", "projects" and similar expressions, whether in the negative or affirmative, are intended to identify forward-looking statements. Our actual future results may differ significantly from the results discussed in the forward-looking statements within this release for a variety of reasons, including and without limitation, risks or uncertainties related to, and expectations regarding our ability to realize commercial success subsequent to the completion of our acquisition of the Business and other risk factors detailed from time to time in Waters' reports filed with the Securities and Exchange Commission ("SEC"). Such factors and others that are discussed more fully in the sections entitled "Forward-Looking Statements" and "Risk Factors" of Waters' annual report on Form 10-K for the year ended December 31, 2024 as filed with the SEC, which discussions are incorporated by reference in this release, as updated by Waters' subsequent filings with the SEC. The forward-looking statements included in this release represent Waters' estimates or views as of the date of this release and should not be relied upon as representing Waters' estimates or views as of any date subsequent to the date of this release. Except as required by law, Waters does not assume any obligation to update any forward-looking statements.ContactsMolly Gluck
Head of External Communications
Waters Corporation
508.498.9732
PR@waters.com Caspar Tudor
Head of Investor Relations
Waters Corporation
508.482.3448
investor_relations@waters.com 





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Original: Waters Completes Combination with BD's Biosciences & Diagnostic Solutions Businesses

Waters Completes Combination with BD's Biosciences & Diagnostic Solutions BusinessesFebruary 9, 2026 8:40 AM
PR Newswire (US)

Announces appointment of Claire M. Fraser, Ph.D., to its Board of DirectorsForms a global life sciences and diagnostics leader focused on high-volume testing in regulated applicationsAnnounces formation of four divisions: Waters Analytical Sciences, Waters Biosciences, Waters Advanced Diagnostics, and Waters Materials SciencesMILFORD, Mass., Feb. 9, 2026 /PRNewswire/ -- Waters Corporation (NYSE: WAT) ("Waters") today announced it has completed the previously announced combination with the Biosciences & Diagnostic Solutions businesses of Becton, Dickinson and Company (NYSE: BDX) ("BD"). The transaction forms a global life sciences and diagnostics leader, equipped with best-in-class technologies, and an industry-leading financial outlook. The Company also announced the appointment of Claire M. Fraser, Ph.D., to its Board of Directors (the "Waters Board"), increasing the size of the Waters Board to a total of 11 members.Dr. Fraser is a globally acclaimed genome scientist, with three decades of experience managing large research institutes. Most recently, she served as Director of The Institute for Genome Sciences, which she founded in 2007, at the University of Maryland School of Medicine, where she also served as a Professor of Medicine and Microbiology and Immunology. Dr. Fraser received a B.S. in Biology from Rensselaer Polytechnic Institute in Troy, NY, and a Ph.D. in Pharmacology from the State University of New York at Buffalo. "As we reach this important milestone, I want to welcome our new colleagues to Waters and Dr. Claire Fraser to our Board," said Flemming Ørnskov, M.D., M.P.H., Chairman, Waters. "Dr. Fraser is an internationally recognized scientist with an extensive background in genomics, infectious diseases, and molecular diagnostics. We will benefit from her expertise and deep knowledge of the business to help oversee our next era of growth and value creation.""Our combination with BD's Biosciences and Diagnostic Solutions businesses marks a pivotal moment for Waters, bringing together world-class scientific expertise across chemistry, physics, and biology, with rich histories of innovation," said Udit Batra, Ph.D., President and Chief Executive Officer, Waters. "As we enter this next chapter, our focus is clear: address our customers' unmet needs, deliver long-term value for our shareholders, and provide solutions that advance global health. Through our category-defining products and shared culture of innovation, I am confident that together we will accelerate the benefits of pioneering science."With the transaction now closed, Waters has established four divisions that reflect the Company's continued focus on high-volume testing in regulated applications and its decisive expansion into high-growth adjacent markets. The divisions bring together leading scientific teams to support the development and manufacturing of large and small molecule therapeutics and food and environmental testing, and to advance specialty diagnostics in attractive molecular, microbiology, and multiplex applications.Waters Analytical Sciences (formerly Waters Division, excluding Waters Clinical Business): comprised of products, service, and compliant informatics linked to separations science and physical molecular characterization, including liquid chromatography instruments, chemistry consumables, and mass spectrometry, UV, light scattering, and particle analysis detection technologies.
 Waters Biosciences (formerly BD Biosciences): comprised of products, service, and informatics linked to the field of biology, spanning cellular sorting and analysis, including flow cytometry instruments and reagents, and single-cell multiomics solutions.
 Waters Advanced Diagnostics (formerly BD Diagnostic Solutions and Waters Clinical Business): comprised of products and service for high-value diagnostic workflows in regulated clinical settings. This includes microbiology, molecular, LC-MS-based multiplex testing, automation solutions, and point-of-care testing.
 Waters Materials Sciences (formerly TA Division): comprised of products, service, and informatics spanning a diverse range of materials characterization techniques, including thermal analysis, rheology, and microcalorimetry, serving batteries, electronics, and pharmaceutical applications.Transaction InformationThe combination was effected through a Reverse Morris Trust transaction, where BD's Biosciences & Diagnostic Solutions businesses (the "Business") were spun off into a separate entity which merged with a wholly owned subsidiary of Waters, and thus became a wholly owned subsidiary of Waters. Upon consummation of the transaction, Waters shareholders prior to the closing of the transaction owned common stock representing 60.8% of the combined company on a fully diluted basis and BD shareholders owned 39.2% of the combined company on a fully diluted basis. In connection with the transaction, BD shareholders will receive approximately 0.135 shares of Waters common stock for each share of BD common stock that they held as of the close of business on February 5, 2026, the record date for the spin-off, with cash in lieu of any fractional shares of Waters common stock.Barclays served as financial advisor to Waters, and Kirkland & Ellis LLP served as lead legal counsel.About Waters Corporation Waters Corporation (NYSE: WAT) is a global leader in life sciences and diagnostics, dedicated to accelerating the benefits of pioneering science through analytical technologies, informatics, and service. With a focus on regulated, high-volume testing environments, our innovative portfolio harnesses deep scientific expertise across chemistry, physics, and biology. We collaborate with customers around the world to advance the release of effective, high-quality medicines, ensure the safety of food and water, and drive better patient outcomes by detecting diseases earlier, managing routine infections, and combating antibiotic resistance. Through a shared culture of relentless innovation, our passionate team of ~16,000 colleagues turn scientific challenges into breakthroughs that improve lives worldwide. For more information, please visit www.waters.com/combination. Cautionary StatementThis release contains "forward-looking" statements regarding future results and events, including statements regarding the expected benefits of the transaction. For this purpose, any statements that are not statements of historical fact may be deemed forward-looking statements. Without limiting the foregoing, the words "will," "feels", "believes", "anticipates", "plans", "expects", "intends", "suggests", "appears", "estimates", "projects" and similar expressions, whether in the negative or affirmative, are intended to identify forward-looking statements. Our actual future results may differ significantly from the results discussed in the forward-looking statements within this release for a variety of reasons, including and without limitation, risks or uncertainties related to, and expectations regarding our ability to realize commercial success subsequent to the completion of our acquisition of the Business and other risk factors detailed from time to time in Waters' reports filed with the Securities and Exchange Commission ("SEC"). Such factors and others that are discussed more fully in the sections entitled "Forward-Looking Statements" and "Risk Factors" of Waters' annual report on Form 10-K for the year ended December 31, 2024 as filed with the SEC, which discussions are incorporated by reference in this release, as updated by Waters' subsequent filings with the SEC. The forward-looking statements included in this release represent Waters' estimates or views as of the date of this release and should not be relied upon as representing Waters' estimates or views as of any date subsequent to the date of this release. Except as required by law, Waters does not assume any obligation to update any forward-looking statements.ContactsMolly Gluck
Head of External Communications
Waters Corporation
508.498.9732
PR@waters.com Caspar Tudor
Head of Investor Relations
Waters Corporation
508.482.3448
investor_relations@waters.comLogo - https://mma.prnewswire.com/media/2071755/5777940/Waters_Corporation_Logo.jpg



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Original: Waters Completes Combination with BD's Biosciences & Diagnostic Solutions Businesses

Waters Corporation (NYSE: WAT) Reports Fourth Quarter and Full-Year 2025 Financial ResultsFebruary 9, 2026 6:30 AM
PR Newswire (US)

HighlightsFourth Quarter 2025Sales of $932 million landed at the high-end of reported sales growth guidance range; grew 7% as reported and 6% in constant currencyGrowth led by high single-digit constant currency growth in Pharma and Industrial end-markets, with broad-based growth across all regionsChemistry grew 12% in constant currency as new bioseparations products continued to experience significant customer demandInstruments grew 3% in constant currency, with high single-digit LC-MS growth partially offset by TA and transition to subscription model for EmpowerGAAP EPS of $3.77; non-GAAP EPS of $4.53 grew double digitsFull-Year 2025Sales of $3,165 million grew 7% as reported and 7% in constant currencyInstruments grew 5% in constant currency, led by strong LC-MS growth Recurring Revenue grew 8% in constant currency, led by 12% Chemistry growthGAAP EPS of $10.76; non-GAAP EPS of $13.13 grew double digitsMILFORD, Mass., Feb. 9, 2026 /PRNewswire/ -- Waters Corporation (NYSE: WAT), today announced its financial results for the fourth quarter and full year 2025.Sales for the fourth quarter of 2025 were $932 million, an increase of 7% as reported and 6% in constant currency, compared to sales of $873 million for the fourth quarter of 2024.On a GAAP basis, diluted earnings per share (EPS) for the fourth quarter of 2025 were $3.77, compared to $3.88 for the fourth quarter of 2024. Non-GAAP EPS for the fourth quarter of 2025 grew 10% to $4.53, compared to $4.10 for the fourth quarter of 2024."Our team delivered industry-leading results in 2025, achieving high single-digit revenue growth and double-digit adjusted EPS growth. We expect this momentum to continue into 2026, driven by strong execution of the multi-year instrument replacement cycle, continued contribution from pioneering innovation, and our Waters-specific idiosyncratic growth drivers," said Udit Batra, Ph.D., President & Chief Executive Officer, Waters Corporation."As we enter 2026, the addition of BD Biosciences and Diagnostic Solutions marks a transformative step forward for Waters. Today, we will close the transaction and are launching commercial excellence initiatives tied to instrument replacement, e-commerce, and service attachment that will build momentum and drive the first phase of our stated revenue synergies. Within the P&L, we also expect to make decisive progress towards realizing our stated cost synergies in the months ahead. Our starting 2026 guidance calls for an attractive 5.3% combined company sales growth at mid-point, with opportunity for outperformance as the year progresses."Fourth Quarter 2025During the fourth quarter of 2025, sales into the pharmaceutical market increased 8% as reported and 7% in constant currency. Sales into the industrial market increased 8% as reported and in constant currency. Sales into the academic and government market decreased 2% as reported and 3% in constant currency.During the quarter, instrument system sales increased 3% as reported and in constant currency. Recurring revenues, which represent the combination of service and precision chemistries, increased 10% as reported and 9% in constant currency.Geographically, sales in Asia during the quarter increased 4% as reported and 11% in constant currency. Sales in the Americas increased 4% as reported and in constant currency. Sales in Europe increased 13% as reported and 4% in constant currency.Full-Year 2025Sales for the fiscal year 2025 were $3,165 million, an increase of 7% as reported and in constant currency, compared to sales of $2,958 million for fiscal year 2024.On a GAAP basis, EPS for fiscal year 2025 was $10.76 compared to $10.71 for fiscal year 2024. On a non-GAAP basis, EPS increased by 11% to $13.13 compared to $11.86 for fiscal year 2024.During the fiscal year 2025, sales into the pharmaceutical market increased 9% as reported and in constant currency. Sales into the industrial market increased 6% as reported and in constant currency. Sales into the academic and government market were flat as reported and decreased 1% in constant currency.During the year, instrument system sales increased 5% as reported and in constant currency. Recurring revenues, which represent the combination of service and precision chemistries, increased 8% as reported and in constant currency.Geographically, sales in Asia during the year increased 7% as reported and 13% in constant currency. Sales in the Americas increased 4% as reported and in constant currency. Sales in Europe increased 10% as reported and 5% in constant currency.Unless otherwise noted, sales growth and decline percentages are presented on an as-reported basis. A description and reconciliation of GAAP to non-GAAP results appear in the tables below and can be found on the Company's website www.waters.com in the Investor Relations section.Full-Year and First Quarter 2026 Financial GuidanceFull-Year 2026 Financial GuidanceThe Company expects full-year 2026 organic constant currency revenue growth to be in the range of +5.5% to +7.0%. Including the positive impact of currency translation, full-year 2026 organic reported revenue is expected to be in the range of $3.355 billion to $3.405 billion.The Company expects an acquired business contribution in full-year 2026 of approximately $3.000 billion to reported revenue on an owned-period basis.Including the positive impact of expected revenue synergies, total Company revenue for full-year 2026 is expected to be in the range of $6.405 billion to $6.455 billion on a reported basis.The Company expects full-year 2026 non-GAAP EPS to be in the range of $14.30 to $14.50, which includes $0.10 cents of accretion versus the Company's standalone non-GAAP EPS profile due to our combination with the Biosciences and Diagnostic Solutions business of Becton, Dickinson & Company. This represents year-over-year non-GAAP EPS growth of approximately +8.9% to +10.4% for full-year 2026.First Quarter 2026 Financial GuidanceThe Company expects first quarter 2026 organic constant currency revenue growth to be in the range of +7.0% to +9.0%. Including the positive impact of currency translation, first quarter 2026 organic reported revenue is expected to be in the range of $718 million to $731 million.The Company expects an acquired business contribution in the first quarter of 2026 of approximately $480 million to reported revenue on an owned-period basis.Total Company revenue for the first quarter of 2026 is expected to be in the range of $1.198 billion to $1.211 billion on a reported basis.The Company expects first quarter 2026 non-GAAP EPS to be in the range of $2.25 to $2.35, which reflects year-over-year growth of approximately +0.0% to +4.4%.Please refer to the tables below for a reconciliation of the projected GAAP to non-GAAP financial outlook for the full-year and first quarter.Conference Call DetailsWaters Corporation will webcast its fourth quarter 2025 financial results conference call today, February 9, 2026, at 8:30 a.m. Eastern Time. To listen to the call and see the accompanying slide presentation, please visit www.waters.com, select "Investor Relations" under the "About Waters" section, navigate to "Events & Presentations," and click on the "Webcast." A replay will be available through at least March 9, 2026.About Waters CorporationWaters Corporation (NYSE:WAT) is a global leader in analytical instruments, separations technologies, and software, serving the life, materials, food, and environmental sciences for over 65 years. Our Company helps ensure the efficacy of medicines, the safety of food and the purity of water, and the quality and sustainability of products used every day. In over 100 countries, our 7,900+ passionate employees collaborate with customers in laboratories, manufacturing sites, and hospitals to accelerate the benefits of pioneering science.Non-GAAP Financial MeasuresThis release contains financial measures, such as organic constant currency growth rates, constant currency growth rates and adjusted earnings per diluted share, among others, which are considered "non-GAAP" financial measures under applicable U.S. Securities and Exchange Commission rules and regulations. These non-GAAP financial measures should be considered supplemental to, and not a substitute for, financial information prepared in accordance with U.S. generally accepted accounting principles (GAAP). The Company's definitions of these non-GAAP measures may differ from similarly titled measures used by others. The non-GAAP financial measures used in this release adjust for specified items that can be highly variable or difficult to predict. The Company generally uses these non-GAAP financial measures to facilitate management's financial and operational decision-making, including evaluation of the Company's historical operating results, comparison to competitors' operating results and determination of management incentive compensation. These non-GAAP financial measures reflect an additional way of viewing aspects of the Company's operations that, when viewed with GAAP results and the reconciliations to corresponding GAAP financial measures, may provide a more complete understanding of factors and trends affecting the Company's business. Because non-GAAP financial measures exclude the effect of items that will increase or decrease the Company's reported results of operations, management strongly encourages investors to review the Company's consolidated financial statements and publicly filed reports in their entirety. Definitions of the non-GAAP financial measures and reconciliations to the most directly comparable GAAP financial measures are included in the tables accompanying this release.Cautionary StatementThis release contains "forward-looking" statements regarding future results and events. For this purpose, any statements that are not statements of historical fact may be deemed forward-looking statements. Without limiting the foregoing, the words "feels", "believes", "anticipates", "plans", "expects", "intends", "suggests", "appears", "estimates", "projects" and similar expressions, whether in the negative or affirmative, are intended to identify forward-looking statements. Our actual results may differ significantly from the results discussed in the forward-looking statements within this release for a variety of reasons, including and without limitation, risks or uncertainties related to our acquisition of Becton, Dickinson and Company's Biosciences and Diagnostic Solutions business, the impact of this acquisition on the Company's business and future results, including unexpected costs, charges or expenses resulting from this acquisition as well as difficulties and delays in achieving expected revenue and cost synergies related to this acquisition, the increased indebtedness of the Company as a result of this acquisition, our future financial and operational performance, future economic and market conditions, including our expectations about the growth rates of certain markets, our strategic initiatives, including our instrument replacement initiatives, respond and adapt to changing global dynamics, including the potential impacts of tariffs and supply chain challenges, our ability to retain and attract customers in various geographies and market segments, our market size and growth opportunities, our competitive positioning, projected costs, technological capabilities and plans, and objectives of management, and other risk factors detailed from time to time in Waters' reports filed with the Securities and Exchange Commission ("SEC"). Such factors and others are discussed more fully in the sections entitled "Forward-Looking Statements" and "Risk Factors" of the Company's annual report on Form 10-K for the year ended December 31, 2024, as filed with the SEC, which discussions are incorporated by reference in this release, as updated by the Company's subsequent filings with the SEC. The forward-looking statements included in this release represent the Company's estimates or views as of the date of this release and should not be relied upon as representing the Company's estimates or views as of any date subsequent to the date of this release. Except as required by law, the Company does not assume any obligation to update any forward-looking statements.Waters Corporation and SubsidiariesConsolidated Statements of Operations(In thousands, except per share data)(Unaudited)














Three Months Ended
Twelve Months Ended
December 31,
2025
December 31,
2024
December 31,
2025
December 31,
2024







Net sales$        932,362
$        872,714
$     3,165,286
$     2,958,387







Costs and operating expenses:






Cost of sales362,864
348,516
1,288,822
1,200,201Selling and administrative expenses 240,007
173,268
830,374
690,148Research and development expenses 46,898
46,914
195,711
183,027Purchased intangibles amortization 12,077
11,753
47,791
47,090Litigation provision-
-
-
11,568







Operating income 270,516
292,263
802,588
826,353







Other income (expense), net2,283
(843)
3,061
776Interest expense, net(8,618)
(14,437)
(50,771)
(72,261)







Income from operations before income taxes264,181
276,983
754,878
754,868







Provision for income taxes38,967
45,585
112,249
117,034







Net income$        225,214
$        231,398
$        642,629
$        637,834















Net income per basic common share$              3.78
$              3.90
$            10.80
$            10.75







Weighted-average number of basic common shares59,546
59,386
59,509
59,333















Net income per diluted common share$              3.77
$              3.88
$            10.76
$            10.71







Weighted-average number of diluted common shares and equivalents59,763
59,645
59,706
59,552 Waters Corporation and SubsidiariesReconciliation of GAAP to Adjusted Non-GAAPNet Sales by Operating Segments, Products & Services, Geography and MarketsThree Months Ended December 31, 2025 and December 31, 2024(In thousands)

























Constant

Three Months Ended
Percent
Impact of
Currency

December 31, 2025
December 31, 2024
Change
Currency
Growth Rate (a)












NET SALES - OPERATING SEGMENTS
























Waters
$823,937
$764,309
8 %
1 %
7 %TA

108,425

108,405
0 %
0 %
0 %












Total
$932,362
$872,714
7 %
1 %
6 %

























NET SALES - PRODUCTS & SERVICES
























Instruments
$432,850
$419,616
3 %
1 %
3 %












Service

329,156

301,844
9 %
1 %
8 %Chemistry

170,356

151,254
13 %
1 %
12 %Total Recurring

499,512

453,098
10 %
1 %
9 %












Total
$932,362
$872,714
7 %
1 %
6 %

























NET SALES - GEOGRAPHY
























Asia
$283,967
$272,903
4 %
(7 %)
11 %Americas

332,424

321,005
4 %
0 %
4 %Europe

315,971

278,806
13 %
9 %
4 %












Total
$932,362
$872,714
7 %
1 %
6 %

























NET SALES - MARKETS
























Pharmaceutical
$540,567
$498,807
8 %
1 %
7 %Industrial

284,465

264,027
8 %
0 %
8 %Academic & Government

107,330

109,880
(2 %)
1 %
(3 %)












Total
$932,362
$872,714
7 %
1 %
6 %





(a)The Company believes that referring to comparable constant currency growth rates is a useful way to evaluate the underlying performance of Waters Corporation's net sales. Constant currency growth, a non-GAAP financial measure, measures the change in net sales between current and prior year periods, excluding the impact of foreign currency exchange rates during the current period. See description of non-GAAP financial measures contained in this release. Waters Corporation and Subsidiaries
Reconciliation of GAAP to Adjusted Non-GAAP
Net Sales by Operating Segments, Products & Services, Geography and Markets
Twelve Months Ended December 31, 2025 and December 31, 2024
(In thousands)



























Constant


Twelve Months Ended
Percent
Impact of
Currency


December 31, 2025
December 31, 2024
Change
Currency
Growth Rate (a)














NET SALES - OPERATING SEGMENTS


























Waters
$2,813,446
$2,604,421
8 %
0 %
8 %
TA

351,840

353,966
(1 %)
0 %
(1 %)














Total
$3,165,286
$2,958,387
7 %
0 %
7 %




























NET SALES - PRODUCTS & SERVICES


























Instruments
$1,345,642
$1,278,695
5 %
0 %
5 %














Service

1,188,186

1,114,211
7 %
0 %
7 %
Chemistry

631,458

565,481
12 %
0 %
12 %
Total Recurring

1,819,644

1,679,692
8 %
0 %
8 %














Total
$3,165,286
$2,958,387
7 %
0 %
7 %




























NET SALES - GEOGRAPHY


























Asia
$1,040,397
$969,222
7 %
(5 %)
13 %
Americas

1,161,513

1,115,780
4 %
0 %
4 %
Europe

963,376

873,385
10 %
6 %
5 %














Total
$3,165,286
$2,958,387
7 %
0 %
7 %




























NET SALES - MARKETS


























Pharmaceutical
$1,873,362
$1,718,899
9 %
0 %
9 %
Industrial

961,154

908,486
6 %
0 %
6 %
Academic & Government

330,770

331,002
0 %
1 %
(1 %)














Total
$3,165,286
$2,958,387
7 %
0 %
7 %






(a)The Company believes that referring to comparable constant currency growth rates is a useful way to evaluate the underlying performance of Waters Corporation's net sales. Constant currency growth, a non-GAAP financial measure, measures the change in net sales between current and prior year periods, excluding the impact of foreign currency exchange rates during the current period. See description of non-GAAP financial measures contained in this release. Waters Corporation and SubsidiariesReconciliation of GAAP to Adjusted Non-GAAP FinancialsThree and Twelve Months Ended December 31, 2025 and December 31, 2024(In thousands, except per share data)





















































Income from






























Operations












Selling &

Research &




Operating

Other

Interest

before

Provision for




Diluted



Administrative

Development

Operating

Income

Income

Expense,

Income

Income

Net

Earnings



Expenses(a)

Expenses

Income

Percentage

(Expense)

Net

Taxes

Taxes

Income

per ShareThree Months Ended December 31, 2025





























GAAP
$252,084
$46,898
$270,516

29.0 %
$2,283
$(8,618)
$264,181
$38,967
$225,214
$3.77Adjustments:






























Purchased intangibles amortization (b)

(12,077)

-

12,077

1.3 %

-

-

12,077

2,930

9,147

0.15
Restructuring costs and certain other items (c)

(3,290)

-

3,290

0.4 %

(2,398)

-

892

216

676

0.01
ERP implementation and transformation costs (d)

(5,777)

-

5,777

0.6 %

-

-

5,777

1,386

4,391

0.07
Acquisition related costs (e)

(39,975)

3,204

36,771

3.9 %

-

-

36,771

6,589

30,182

0.51
Financing Costs (h)

-

-

-

-

-

1,518

1,518

364

1,154

0.02Adjusted Non-GAAP
$190,965
$50,102
$328,431

35.2 %
$(115)
$(7,100)
$321,216
$50,452
$270,764
$4.53































Three Months Ended December 31, 2024





























GAAP
$185,021
$46,914
$292,263

33.5 %
$(843)
$(14,437)
$276,983
$45,585
$231,398
$3.88Adjustments:






























Purchased intangibles amortization (b)

(11,753)

-

11,753

1.3 %

-

-

11,753

2,813

8,940

0.15
Restructuring costs and certain other items (c)

(1,480)

-

1,480

0.2 %

-

-

1,480

354

1,126

0.02
ERP implementation and transformation costs (d)

(1,346)

-

1,346

0.2 %

-

-

1,346

337

1,009

0.02
Retention bonus obligation (g)

(1,911)

(636)

2,547

0.3 %

-

-

2,547

612

1,935

0.03Adjusted Non-GAAP
$168,531
$46,278
$309,389

35.5 %
$(843)
$(14,437)
$294,109
$49,701
$244,408
$4.10































Twelve Months Ended December 31, 2025





























GAAP
$878,165
$195,711
$802,588

25.4 %
$3,061
$(50,771)
$754,878
$112,249
$642,629
$10.76Adjustments:






























Purchased intangibles amortization (b)

(47,791)

-

47,791

1.5 %

-

-

47,791

11,476

36,315

0.61
Restructuring costs and certain other items (c)

(9,036)

-

9,036

0.3 %

(2,398)

-

6,638

1,560

5,078

0.09
ERP implementation and transformation costs (d)

(19,588)

-

19,588

0.6 %

-

-

19,588

4,701

14,887

0.25
Acquisition related costs (e)

(81,068)

(531)

81,599

2.6 %

-

-

81,599

11,318

70,281

1.18
Retention bonus obligation (g)

(2,864)

(954)

3,818

0.1 %

-

-

3,818

916

2,902

0.05
Financing Costs (h)

-

-

-

-

-

15,578

15,578

3,738

11,840

0.20Adjusted Non-GAAP
$717,818
$194,226
$964,420

30.5 %
$663
$(35,193)
$929,890
$145,958
$783,932
$13.13































Twelve Months Ended December 31, 2024





























GAAP
$748,806
$183,027
$826,353

27.9 %
$776
$(72,261)
$754,868
$117,034
$637,834
$10.71Adjustments:






























Purchased intangibles amortization (b)

(47,090)

-

47,090

1.6 %

-

-

47,090

11,269

35,821

0.60
Restructuring costs and certain other items (c)

(12,160)

-

12,160

0.4 %

-

-

12,160

2,971

9,189

0.15
ERP implementation and transformation costs (d)

(1,346)

-

1,346

0.0 %

-

-

1,346

337

1,009

0.02
Litigation provision and settlement (f)

(11,568)

-

11,568

0.4 %

-

-

11,568

2,776

8,792

0.15
Retention bonus obligation (g)

(13,362)

(4,453)

17,815

0.6 %

-

-

17,815

4,276

13,539

0.23Adjusted Non-GAAP
$663,280
$178,574
$916,332

31.0 %
$776
$(72,261)
$844,847
$138,663
$706,184
$11.86





(a)Selling & administrative expenses include purchased intangibles amortization and litigation provisions and settlements.(b)The purchased intangibles amortization, a non-cash expense, was excluded to be consistent with how management evaluates the performance of its core business against historical operating results and the operating results of competitors over periods of time.(c)Restructuring costs and certain other items were excluded as the Company believes that the cost to consolidate operations, reduce overhead, and certain other income or expense items are not normal and do not represent future ongoing business expenses of a specific function or geographic location of the Company.(d)ERP implementation and transformation costs represent costs related to the Company's initiative to transition from its legacy enterprise resource planning (ERP) system to a new global ERP solution with a cloud-based infrastructure. These costs, which do not represent normal or future ongoing business expenses, are one-time, non-recurring costs related to the establishment of our new global ERP solution that were determined to be non-capitalizable in accordance with accounting standards.(e)Acquisition related costs include all incremental costs incurred to effect the business combination, such as advisory, legal, accounting, tax, valuation, other professional fees, and integration costs. The Company believes that these costs are not normal and do not represent future ongoing business expenses.(f)Litigation provisions and settlement gains were excluded as these items are isolated, unpredictable and not expected to recur regularly.(g)In connection with the Wyatt acquisition, the Company recognized a two-year retention bonus obligation that is contingent upon the employee's providing future service and continued employment with Waters. The Company believes that these costs are not normal and do not represent future ongoing business expenses.(h)Financing costs relate to certain financing fees incurred by the Company to secure access to certain debt facilities in connection with the agreement Waters entered into to acquire the Biosciences and Diagnostics Solutions business of Becton, Dickinson & Company. The Company believes that these costs are not normal and do not represent future ongoing business expenses.  Waters Corporation and SubsidiariesPreliminary Condensed Unclassified Consolidated Balance Sheets(In thousands and unaudited)
















December 31, 2025
December 31, 2024




Cash and cash equivalents
$                587,831
$                325,355Accounts receivable
828,844
733,365Inventories
572,371
477,261Property, plant and equipment, net
642,046
651,200Intangible assets, net
558,179
567,906Goodwill
1,340,081
1,295,720Other assets
554,625
502,988   Total assets
$             5,083,977
$             4,553,795









Notes payable and debt
$             1,407,445
$             1,626,488Other liabilities
1,115,290
1,098,800   Total liabilities
2,522,735
2,725,288




Total stockholders' equity
2,561,242
1,828,507   Total liabilities and stockholders' equity
$             5,083,977
$             4,553,795 Waters Corporation and SubsidiariesPreliminary Condensed Consolidated Statements of Cash FlowsThree and Twelve Months Ended December 31, 2025 and December 31, 2024(In thousands and unaudited)















Three Months Ended

Twelve Months Ended



December 31, 2025
December 31, 2024

December 31, 2025
December 31, 2024







Cash flows from operating activities:








Net income$                   225,214
$                 231,398

$                 642,629
$                637,834
Adjustments to reconcile net income to net










cash provided by operating activities:









Stock-based compensation14,502
11,716

54,127
44,709

Depreciation and amortization52,541
48,575

206,237
191,825

Change in operating assets and liabilities and other, net(127,704)
(51,550)

(250,438)
(112,245)


Net cash provided by operating activities164,553
240,139

652,555
762,123











Cash flows from investing activities:








Additions to property, plant, equipment










and software capitalization(38,973)
(52,104)

(112,745)
(142,481)
Business acquisitions, net of cash acquired-
-

(35,053)
-
Investments in unaffiliated companies(6,000)
-

(7,295)
(1,489)
Net change in investments-
(9)

-
(53)
Other cash flow from investing activities, net2,840
-

2,840




Net cash used in investing activities(42,133)
(52,113)

(152,253)
(144,023)











Cash flows from financing activities:








Net change in debt(335)
(200,000)

(243,321)
(730,000)
Proceeds from stock plans5,169
5,293

20,790
30,366
Purchases of treasury shares(144)
(66)

(14,667)
(13,541)
Other cash flow from financing activities, net(1,354)
1,195

(7)
16,500


Net cash provided by (used in) financing activities3,336
(193,578)

(237,205)
(696,675)











Effect of exchange rate changes on cash and cash equivalents2,957
(541)

(621)
7,920


Increase (decrease) in cash and cash equivalents128,713
(6,093)

262,476
(70,655)











Cash and cash equivalents at beginning of period459,118
330,514

325,355
395,076


Cash and cash equivalents at end of period$                   587,831
$                 324,421

$                 587,831
$                324,421















































Reconciliation of GAAP Cash Flows from Operating Activities to Free Cash Flow (a)



































Net cash provided by operating activities - GAAP$                   164,553
$                 240,139

$                 652,555
$                762,123












Adjustments:









Additions to property, plant, equipment










and software capitalization(38,973)
(52,104)

(112,745)
(142,481)

Tax reform payments-
-

120,006
95,645

Litigation settlements (received) paid, net(375)
-

(2,625)
9,250

Payment of Wyatt retention bonus obligation (b)-
-

20,127
19,770Free Cash Flow - Adjusted Non-GAAP$                   125,205
$                 188,035

$                 677,318
$                744,307





(a)The Company defines free cash flow as net cash flow from operations accounted for under GAAP less capital expenditures and software capitalizations plus or minus any unusual and non recurring items. Free cash flow is not a GAAP measurement and may not be comparable to free cash flow reported by other companies.(b)During the twelve months ended December 31, 2025 and 2024, the Company made retention payments under the Wyatt retention bonus program. The Company believes that these payments are not normal and do not represent future ongoing business expenses. Waters Corporation and SubsidiariesReconciliation of Projected GAAP to Adjusted Non-GAAP Financial Outlook(In millions, except per share data)






















Twelve Months Ended
Three Months Ended


December 31, 2026
April 4, 2026


Range
RangeProjected revenue

















Reported revenue
$  6,405-$  6,455
$  1,198-$  1,211Impact of:








Acquired business contribution
$  3,000-$  3,000
$     480-$     480
Revenue synergies
$       50-$       50
$          --$          -Organic reported revenue
$  3,355-$  3,405
$     718-$     731Organic reported revenue growth
6.0 %-7.5 %
8.5 %-10.5 %Currency translation impact
0.5 %-0.5 %
1.5 %-1.5 %Organic constant currency revenue growth (a)
5.5 %-7.0 %
7.0 %-9.0 %












Range
RangeProjected Earnings Per Diluted Share

















GAAP earnings per diluted share
$    6.63-$    6.83
$    0.05-$    0.15Adjustments:








Purchased intangibles amortization $    5.24-$    5.24
$    1.05-$    1.05
ERP implementation and transformation costs $    0.14-$    0.14
$    0.06-$    0.06
Acquisition related costs$    0.45-$    0.45
$    0.45-$    0.45
Amortization of acquisition-related inventory fair value step-up$    1.84-$    1.84
$    0.64-$    0.64Adjusted non-GAAP earnings per diluted share$  14.30-$  14.50
$    2.25-$    2.35

(a)Organic constant currency growth rates are a non-GAAP financial measure that measures the change in net revenue between current and prior year periods, excluding the impact of foreign currency exchange rates during the current period and excluding the impact of acquisitions made within twelve months of the acquisition close date. These amounts are estimated at the current foreign currency exchange rates and based on the forecasted geographical revenue in local currency, as well as an assessment of market conditions as of the date of this press release, and may differ significantly from actual results.

These forward-looking adjustment estimates do not reflect future gains and charges that are inherently difficult to predict and estimate due to their unknown timing, effect and/or significance. Contact: Caspar Tudor, Head of Investor Relations – (508) 482-3448



View original content:https://www.prnewswire.co.uk/news-releases/waters-corporation-nyse-wat-reports-fourth-quarter-and-full-year-2025-financial-results-302682095.html

Original: Waters Corporation (NYSE: WAT) Reports Fourth Quarter and Full-Year 2025 Financial Results

BD Announces Record Date for the Spin-Off of its Biosciences & Diagnostic Solutions BusinessJanuary 27, 2026 2:25 PM
PR Newswire (US)

Distribution date and closing date for spin-off and merger with Waters Corporation set for February 9, 2026FRANKLIN LAKES, N.J., Jan. 27, 2026 /PRNewswire/ -- BD (Becton, Dickinson and Company) (NYSE: BDX) ("BD" or the "Company") today announced that the Company's Board of Directors has set the close of business on February 5, 2026, as the record date for the previously announced spin-off of BD's Biosciences & Diagnostic Solutions business to BD's shareholders. Immediately following the spin-off, the spun-off entity will be combined with Waters Corporation (NYSE: WAT) ("Waters") in a Reverse Morris Trust transaction. The combination is expected to be completed on February 9, 2026, subject to the satisfaction of customary closing conditions. As previously disclosed, under the terms of the transaction, BD will receive $4 billion in cash, and BD shareholders will receive Waters common stock representing 39.2% of the combined company on a fully diluted basis. Existing Waters shareholders will own 60.8% of the combined company on a fully diluted basis. The number of shares of Waters common stock that each holder of BD common stock as of the record date will receive in the transaction will be determined and announced in conjunction with the closing.BD shareholders do not need to pay any consideration, exchange or surrender their BD common stock or take any other action to receive the Waters common stock in the transaction, other than to hold BD common stock as of the record date. Following the close of the transaction, BD shareholders will continue to hold, along with the shares of Waters common stock received in the combination, the same number of shares of BD common stock they held immediately prior to the close of the transaction. After close, investors should expect that BD's share price will adjust to reflect the transfer of the Biosciences & Diagnostic Solutions business to Waters Corporation in the combination. BD has received a favorable Private Letter Ruling from the Internal Revenue Service regarding matters relating to the U.S. federal income tax consequences of the transaction, and Waters stockholders have approved the issuance of shares of Waters common stock in the combination. The distribution and the closing of the transaction remain subject to the satisfaction of customary closing conditions.BD has been advised by the New York Stock Exchange (the "NYSE") that, beginning on February 5, 2026 and continuing through and including the closing date of the transaction, which is anticipated to be February 9, 2026, shares of BD common stock will trade with "due bills" representing the right to receive the SpinCo common stock distribution (which shares of SpinCo common stock would be converted into shares of Waters common stock as a result of the transaction on the closing date of the transaction). BD common stock is expected to be quoted "Ex-Distribution" (without the entitlement to receive the SpinCo common stock distribution or the shares of Waters common stock) beginning on the first trading day following the closing of the transaction.In all cases, investors should consult with their financial and tax advisors regarding the specific implications of selling shares of their BD common stock, including implications for the right to receive shares of SpinCo common stock as a result of the distribution as well as shares of Waters common stock as a result of the combination of SpinCo with Waters.About BDBD is one of the largest global medical technology companies in the world and is advancing the world of health™ by improving medical discovery, diagnostics and the delivery of care. The company supports the heroes on the frontlines of health care by developing innovative technology, services and solutions that help advance both clinical therapy for patients and clinical process for health care providers. BD and its more than 70,000 employees have a passion and commitment to help enhance the safety and efficiency of clinicians' care delivery process, enable laboratory scientists to accurately detect disease and advance researchers' capabilities to develop the next generation of diagnostics and therapeutics. BD has a presence in virtually every country and partners with organizations around the world to address some of the most challenging global health issues. By working in close collaboration with customers, BD can help enhance outcomes, lower costs, increase efficiency, improve safety and expand access to health care. For more information on BD, please visit bd.com or connect with us on LinkedIn at www.linkedin.com/company/bd1/, X (formerly Twitter) at @BDandCo or Instagram at @becton_dickinson.Additional Information and Where to Find It This communication is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy or exchange any securities or a solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. It does not constitute a prospectus or prospectus equivalent document. No offering or sale of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the "Securities Act"), and otherwise in accordance with applicable law.In connection with the proposed transaction between Waters, SpinCo and BD, the parties have filed relevant materials with the U.S. Securities and Exchange Commission (the "SEC"), including, among other filings, a registration statement on Form S-4 filed by Waters (as amended, the "Registration Statement") that includes a preliminary proxy statement/prospectus of Waters, and a registration statement on Form 10 filed by SpinCo (as amended, the "Form 10") that incorporates by reference certain portions of the Registration Statement and serves as an preliminary information statement in connection with the spin-off of SpinCo from BD. The Registration Statement was declared effective by the SEC on December 23, 2025, and Waters filed the definitive proxy statement/prospectus (the 'Proxy Statement/Prospectus") with the SEC on December 23, 2025. The Proxy Statement/Prospectus was mailed, on or about December 23, 2025, to Waters shareholders of record as of December 19, 2025. The Form 10 was declared effective on December 31, 2025. SpinCo filed the final information statement on January 5, 2026 (the "Information Statement") INVESTORS AND SECURITY HOLDERS OF WATERS AND BD ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS, THE INFORMATION STATEMENT AND ANY OTHER DOCUMENTS THAT ARE FILED OR THAT WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and security holders will be able to obtain free copies of the Registration Statement, the Proxy Statement/Prospectus, the Information Statement and other documents filed with the SEC by Waters, SpinCo or BD through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by Waters will be available free of charge on Waters' website at waters.com under the tab "About Waters" and under the heading "Investor Relations" and subheading "Financials—SEC Filings." Copies of the documents filed with the SEC by BD and SpinCo will be available free of charge on BD's website at bd.com under the tab "About BD" and under the heading "Investors" and subheading "SEC Filings."Cautionary Statement Regarding Forward-Looking StatementsThis communication includes "forward-looking statements" as that term is defined in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the proposed transaction among Waters, BD and SpinCo. These forward-looking statements generally are identified by the words "believe," "feel," "project," "expect," "anticipate," "appear," "estimate," "forecast," "outlook," "target," "endeavor," "seek," "predict," "intend," "suggest," "strategy," "plan," "may," "could," "should," "will," "would," "will be," "will continue," "will likely result," or the negative thereof or variations thereon or similar terminology generally intended to identify forward-looking statements. All statements, other than historical facts, including, but not limited to, statements regarding the expected timing and structure of the proposed transaction, the ability of the parties to complete the proposed transaction, and any assumptions underlying any of the foregoing, are forward looking statements.These forward-looking statements are based on Waters' and BD's current expectations and are subject to risks and uncertainties surrounding future expectations generally. Actual results could differ materially from those currently anticipated due to a number of risks and uncertainties, many of which are beyond Waters' and BD's control. None of Waters, BD, SpinCo or any of their respective directors, executive officers, or advisors make any representation or provide any assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements will actually occur, or if any of them do occur, what impact they will have on the business, results of operations or financial condition of Waters or BD. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, these developments could have a material adverse effect on Waters' and BD's businesses and the ability to successfully complete the proposed transaction and realize its benefits. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, (1) that one or more closing conditions to the transaction, may not be satisfied or waived, on a timely basis or otherwise; (2) the risk that the proposed transaction may not be completed on the terms or in the time frame expected by Waters, BD and SpinCo, or at all; (3) unexpected costs, charges or expenses resulting from the proposed transaction; (4) uncertainty of the expected financial performance of the combined company following completion of the proposed transaction; (5) failure to realize the anticipated benefits of the proposed transaction, including as a result of delay in completing the proposed transaction or integrating the businesses of Waters and SpinCo, on the expected timeframe or at all; (6) the ability of the combined company to implement its business strategy; (7) difficulties and delays in the combined company achieving revenue and cost synergies; (8) inability of the combined company to retain and hire key personnel; (9) the occurrence of any event that could give rise to termination of the proposed transaction; (10) the risk that stockholder litigation in connection with the proposed transaction or other litigation, settlements or investigations may affect the timing or occurrence of the proposed transaction or result in significant costs of defense, indemnification and liability; (11) evolving legal, regulatory and tax regimes; (12) changes in general political, economic, regulatory, environmental, trade and/or industry specific conditions or any volatility resulting from the imposition of and changing policies around tariffs; (13) actions by third parties, including government agencies; (14) the risk that the anticipated tax treatment of the proposed transaction is not obtained; (15) the risk of greater than expected difficulty in separating the business of SpinCo from the other businesses of BD; (16) risks related to the disruption of management time from ongoing business operations due to the pendency of the proposed transaction, or other effects of the pendency of the proposed transaction on the relationship of any of the parties to the transaction with their employees, customers, suppliers, or other counterparties; and (17) other risk factors detailed from time to time in Waters' and BD's reports filed with the SEC, including Waters' and BD's annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and other documents filed with the SEC, including documents that will be filed with the SEC in connection with the proposed transaction. The foregoing list of important factors is not exclusive.Any forward-looking statements speak only as of the date of this communication. None of Waters, BD or SpinCo undertakes, and each party expressly disclaims, any obligation to update any forward-looking statements, whether as a result of new information or development, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.Contacts:


Media:Investors:

Matt MarcusShawn BevecVP, Public RelationsSVP, Investor RelationsMatt.Marcus@bd.comInvestor_Relations@bd.com  



View original content:https://www.prnewswire.com/news-releases/bd-announces-record-date-for-the-spin-off-of-its-biosciences--diagnostic-solutions-business-302671313.htmlSOURCE BD (Becton, Dickinson and Company)

Original: BD Announces Record Date for the Spin-Off of its Biosciences & Diagnostic Solutions Business

Waters Shareholders Approve Combination with BD's Biosciences & Diagnostic Solutions BusinessJanuary 27, 2026 2:25 PM
PR Newswire (US)

Waters Corporation's Q4 2025 Financial Results Conference Call will now be held on Monday, 
February 9th, 2026 at 8:30am ET in conjunction with the expected close of the transactionMILFORD, Mass., Jan. 27, 2026 /PRNewswire/ -- Waters Corporation (NYSE: WAT) (the "Company" or "Waters") today announced that, at the Company's Special Meeting of Shareholders (the "Special Meeting") held today, Waters shareholders overwhelmingly voted to approve the issuance of shares of Waters common stock to shareholders of Becton, Dickinson and Company (NYSE: BDX) ("BD") in connection with the proposed combination of BD's Biosciences & Diagnostic Solutions business with Waters. 







"We appreciate the continued support of our shareholders as we move closer to completing this transaction," said Udit Batra, Ph.D., President and Chief Executive Officer, Waters Corporation. "With this milestone complete, our focus is on closing the transaction and ushering in the next chapter of growth and innovation as a differentiated leader in life sciences and diagnostics. We look forward to creating meaningful value for patients, customers, employees, and shareholders alike."BD has received a favorable Private Letter Ruling from the Internal Revenue Service regarding matters relating to the U.S. federal income tax consequences of the transaction. Waters and BD have also received all of the required regulatory approvals. The transaction is expected to close on February 9, 2026, subject to the satisfaction of the remaining customary closing conditions.The preliminary results of Waters' Special Meeting indicate that approximately 99% of shares present in person or by proxy at the Special Meeting voted in favor of the issuance of shares of Waters common stock to BD shareholders in connection with the proposed combination of BD's Biosciences & Diagnostic Solutions business with Waters. The final vote results, as certified by the inspectors of elections, will be reported in a Form 8-K filed with the U.S. Securities and Exchange Commission (the "SEC").Waters will now release its previously scheduled Q4 2025 financial results and hold its financial results conference call on Monday, February 9, 2026, at 8:30 a.m. Eastern Time in conjunction with the expected close of the transaction. A live webcast of the presentation will be available on Waters Investor Relations website at https://ir.waters.com. A replay of the webcast will also be available until at least March 9, 2026, at midnight Eastern Time.About Waters Corporation Waters Corporation (NYSE: WAT), is a global leader in analytical instruments, separations technologies, and software, serving the life, materials, food, and environmental sciences for over 65 years. Our Company helps ensure the efficacy of medicines, the safety of food and the purity of water, and the quality and sustainability of products used every day. In over 100 countries, our 7,600+ passionate employees collaborate with customers in laboratories, manufacturing sites, and hospitals to accelerate the benefits of pioneering science.Additional Information and Where to Find It This release is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy or exchange any securities or a solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. It does not constitute a prospectus or prospectus equivalent document. No offering or sale of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the "Securities Act"), and otherwise in accordance with applicable law.In connection with the proposed transaction between Waters, Augusta SpinCo Corporation ("SpinCo") and BD, the parties have filed relevant materials with the U.S. Securities and Exchange Commission, including, among other filings, a registration statement on Form S-4 filed by Waters (the "Form S-4") that includes a preliminary proxy statement/prospectus of Waters, and a registration statement on Form 10 filed by SpinCo (the "Form 10") that incorporates by reference certain portions of the Form S-4 and serves as an information statement in connection with the spin-off of SpinCo from BD. The Form S-4 was declared effective by the SEC on December 23, 2025, and Waters filed a definitive proxy statement/prospectus with the SEC on December 23, 2025. The definitive proxy statement/prospectus was mailed, on or about December 23, 2025, to Waters shareholders of record as of December 19, 2025. The Form 10 was declared effective on December 31, 2025.  INVESTORS AND SECURITY HOLDERS OF WATERS AND BD ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS, THE INFORMATION STATEMENT AND ANY OTHER DOCUMENTS THAT ARE FILED OR THAT WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and security holders will be able to obtain free copies of the Form S-4, the definitive proxy statement/prospectus and other documents filed with the SEC by Waters, SpinCo or BD through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by Waters will be available free of charge on Waters' website at waters.com under the tab "About Waters" and under the heading "Investor Relations" and subheading "Financials—SEC Filings." Copies of the documents filed with the SEC by BD and SpinCo will be available free of charge on BD's website at bd.com under the tab "About BD" and under the heading "Investors" and subheading "SEC Filings."Cautionary Statement Regarding Forward-Looking StatementsThis release includes "forward-looking statements" as that term is defined in Section 27A of the Securities Act and Section 21E of the Exchange Act including statements regarding the proposed transaction among Waters, SpinCo and BD. These forward-looking statements generally are identified by the words "believe," "feel," "project," "expect," "anticipate," "appear," "estimate," "forecast," "outlook," "target," "endeavor," "seek," "predict," "intend," "suggest," "strategy," "plan," "may," "could," "should," "will," "would," "will be," "will continue," "will likely result," or the negative thereof or variations thereon or similar terminology generally intended to identify forward-looking statements. All statements, other than historical facts, including, but not limited to, statements regarding future operating and financial performance, market growth and drivers of market growth, success of Waters' products or products of the combined company, customer trends, the expected timing and structure of the proposed transaction, the ability of the parties to complete the proposed transaction, the expected benefits of the proposed transaction, including the amount and timing of synergies from the proposed transaction, the combined company's plans, objectives, expectations and intentions, legal, economic and regulatory conditions, and any assumptions underlying any of the foregoing, are forward looking statements. These forward-looking statements are based on Waters' and BD's current expectations and are subject to risks and uncertainties surrounding future expectations generally. Actual results could differ materially from those currently anticipated due to a number of risks and uncertainties, many of which are beyond Waters' and BD's control. None of Waters, BD, SpinCo or any of their respective directors, executive officers, or advisors make any representation or provide any assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements will actually occur, or if any of them do occur, what impact they will have on the business, results of operations or financial condition of Waters or BD. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, these developments could have a material adverse effect on Waters' and BD's businesses and the ability to successfully complete the proposed transaction and realize its benefits. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, (1) that one or more closing conditions to the transaction, including certain regulatory approvals, may not be satisfied or waived, on a timely basis or otherwise; (2) the risk that the proposed transaction may not be completed on the terms or in the time frame expected by Waters, BD and SpinCo, or at all; (3) unexpected costs, charges or expenses resulting from the proposed transaction; (4) uncertainty of the expected financial performance of the combined company following completion of the proposed transaction; (5) failure to realize the anticipated benefits of the proposed transaction, including as a result of delay in completing the proposed transaction or integrating the businesses of Waters and SpinCo, on the expected timeframe or at all; (6) the ability of the combined company to implement its business strategy; (7) difficulties and delays in the combined company achieving revenue and cost synergies; (8) inability of the combined company to retain and hire key personnel; (9) the occurrence of any event that could give rise to termination of the proposed transaction; (10) the risk that stockholder litigation in connection with the proposed transaction or other litigation, settlements or investigations may affect the timing or occurrence of the proposed transaction or result in significant costs of defense, indemnification and liability; (11) evolving legal, regulatory and tax regimes; (12) changes in general political, economic, regulatory, environmental, trade and/or industry specific conditions or any volatility resulting from the imposition of and changing policies around tariffs; (13) actions by third parties, including government agencies; (14) the risk that the anticipated tax treatment of the proposed transaction is not obtained; (15) the risk of greater than expected difficulty in separating the business of SpinCo from the other businesses of BD; (16) risks related to the disruption of management time from ongoing business operations due to the pendency of the proposed transaction, or other effects of the pendency of the proposed transaction on the relationship of any of the parties to the transaction with their employees, customers, suppliers, or other counterparties; and (17) other risk factors detailed from time to time in Waters' and BD's reports filed with the SEC, including Waters' and BD's annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and other documents filed with the SEC, including documents that have been filed with the SEC in connection with the proposed transaction. The foregoing list of important factors is not exclusive.ContactsMolly Gluck
Head of External Communications
Waters Corporation
508.498.9732
Molly_Gluck@waters.com Caspar Tudor
Head of Investor Relations
Waters Corporation
508.482.3448
investor_relations@waters.com



View original content to download multimedia:https://www.prnewswire.com/news-releases/waters-shareholders-approve-combination-with-bds-biosciences--diagnostic-solutions-business-302671317.htmlSOURCE Waters Corporation

Original: Waters Shareholders Approve Combination with BD's Biosciences & Diagnostic Solutions Business

WAT new 52=week high

One helluva great stock we have here.

Here is an example of what WAT will provide in regards to cannabis testing.

https://www.otcmarkets.com/stock/BLDV/news/Shareholders-Update?id=263927

https://www.waters.com/waters/en_US/Cannabis-and-Hemp-Testing-Solutions/nav.htm?cid=135005280&alias=ALIAS_cannabis_MARKET&locale=en_US

News: $WAT Detailed Research: Economic Perspectives on Archer Daniels Midland, Annaly Capital Management, Santander Consumer, ITT, Waters, and Kelly Services - What Drives Growth in Today's Competitive Landscape

NEW YORK, Jan. 25, 2019 (GLOBE NEWSWIRE) -- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of Archer Daniels Midland Company (NYSE:ADM), Annaly Capital Management Inc ...

In case you are interested https://marketwirenews.com/news-releases/detailed-research-economic-perspectives-on-archer-daniels-midland-annaly-capital-management-santander-consumer-itt-waters-and-kelly-services-what-drives-growth-in-today-s-competitive-landscape-7550960.html

Up from 180s a week ago

Strangely I heard from around the way that this is a MMJ play

any rumors of aquisitions?

pki would fit well

Waters Corporation (Waters) is an analytical instrument manufacturer. The Company operates in two segments: Waters Division and TA Division. The Company designs, manufactures, sells and services, through its Waters Division, high performance liquid chromatography (HPLC), ultra performance liquid chromatography (UPLC and together with HPLC, referred to as LC) and mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products and comprehensive post-warranty service plans. These systems are complementary products, which are employed together (LC-MS) and sold as integrated instrument systems using a software platform and are used along with other analytical instruments. Through its TA Division (TA), the Company designs, manufactures, sells and services thermal analysis, rheometry and calorimetry instruments. In July 2011, the Company acquired Anter Corporation (Anter).

http://www.google.com/finance?q=WAT

~ Tuesday! $WAT ~ Q1 Earnings posted, pending or coming soon! In Charts and Links Below!

~ $WAT ~ Earnings expected on Tuesday *
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One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.








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~ Google Finance: http://www.google.com/finance?q=WAT
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*If the earnings date is in error please ignore error. I do my best.