Filing Flows › Waters (WAT) › Q3 2026
Waters (WAT) Q3 2026 earnings results (third quarter 2026)
8-K filed Nov 3, 2026
Waters (WAT) reported revenue of $1.8B for the third quarter 2026 (Q3 2026), +121% from a year earlier and +7% from the quarter before. Operating margin was 7.2%, net earnings $81.0M (4.6% of revenue).
Waters, Q3 2026: revenue $1.8B (+121% year over year), operating margin 7.2%, net earnings $81.0M, operating cash flow $98.0M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.8B | +7% | +121% |
| Operating profit | $128M | — | -33% |
| Net earnings | $81.0M | — | -46% |
| Operating cash flow | $98.0M | -51% | — |
| Free cash flow | $55.0M | -64% | — |
What changed
Revenue was $1.8B in Q3 2026, up 121% year over year and up 7% from the previous quarter. Product was the largest line at 75% of revenue. Product added $0.83B year over year (up 167%), 86% of the total change.
Operating profit was $0.13B, a 7.2% margin (down 16.8 points year over year). Operating profit fell $0.06B even though revenue rose $1.0B versus a year earlier, so costs grew faster than sales. Total costs grew 170% against revenue growth of 121%. The fastest-growing cost line was Other operating costs (+5307%). Net earnings were $0.08B, down 46% year over year. The effective tax rate was 0.0%.
Operating cash flow was $0.10B, 121% of net earnings. Non-cash charges added back $0.30B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.30B. Capital expenditures of $0.04B left free cash flow of $0.06B.
Questions
What was Waters' revenue in the third quarter 2026?
Waters (WAT) reported revenue of $1.8B for the third quarter 2026 (Q3 2026), +121% from a year earlier and +7% from the quarter before.
Was Waters profitable in the third quarter 2026?
Operating profit was $128M (7.2% of revenue) and net earnings $81.0M.
Source: Waters 8-K on SEC EDGAR.