Filing Flows › Waters (WAT) › Q2 2026
Waters (WAT) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 11, 2026
Waters (WAT) reported revenue of $1.6B for the second quarter 2026 (Q2 2026), +113% from a year earlier and +30% from the quarter before. Operating margin was -5.2%, net loss $136M (8.3% of revenue).
Waters, Q2 2026: revenue $1.6B (+113% year over year), operating margin -5.2%, net loss $136M, operating cash flow $201M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.6B | +30% | +113% |
| Operating profit | −$86.0M | — | -146% |
| Net earnings | −$136M | — | -193% |
| Operating cash flow | $201M | — | — |
| Free cash flow | $153M | — | — |
What changed
Revenue was $1.6B in Q2 2026, up 113% year over year and up 30% from the previous quarter. Consumables was the largest line at 47% of revenue.
Operating costs exceeded revenue by $0.09B, an operating margin of -5.2%. Total costs grew 197% against revenue growth of 113%. The fastest-growing cost line was Other operating costs (+10012%). The quarter ended with a net loss of $0.14B, wider than the previous quarter's $0.07B loss.
Operating cash flow was $0.20B. Non-cash charges added back $0.30B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $0.01B. Capital expenditures of $0.05B left free cash flow of $0.15B.
Questions
What was Waters' revenue in the second quarter 2026?
Waters (WAT) reported revenue of $1.6B for the second quarter 2026 (Q2 2026), +113% from a year earlier and +30% from the quarter before.
Was Waters profitable in the second quarter 2026?
Operating loss was $86.0M (-5.2% of revenue) and net loss $136M.
Source: Waters 10-Q on SEC EDGAR.