Waters Corporation Reports $1.267 Billion Revenue and $72 Million Net Loss Following BDS Acquisition

Waters Corporation reported significant financial changes in its latest quarterly results, reflecting the impact of its recent acquisition of the Biosciences & Diagnostic Solutions business from Becton, Dickinson and Company. For the three months ending April 4, 2026, the company generated total revenues of $1.267 billion, a substantial increase from $662 million in the same period last year. This growth was driven primarily by a surge in product revenue, which rose to $919 million from $401 million, alongside service revenue that increased to $348 million from $261 million. However, the company also reported a net loss of $72 million, compared to a net income of $121 million in the prior year, resulting in a loss per share of $0.87.

The acquisition, completed on February 9, 2026, significantly altered Waters' financial landscape. The total consideration for the BDS Business Acquisition was approximately $13 billion, which included the issuance of 38.5 million shares of common stock. This transaction resulted in a dramatic increase in goodwill on the balance sheet, which rose to $9.3 billion from $1.3 billion at the end of 2025. The acquisition also contributed to a notable rise in total assets, which reached $24.531 billion, compared to $5.077 billion at the end of the previous fiscal year.

Operationally, Waters Corporation saw a marked increase in its customer base and product adoption rates following the acquisition. The company reported a significant uptick in its inventory levels, which rose to $1.496 billion from $572 million, reflecting the integration of the acquired business. Additionally, the company’s employee headcount increased as it expanded its operational capabilities to support the new business segment. The company also noted that it incurred approximately $83 million in transaction and integration costs related to the acquisition during the quarter.

Geographically, Waters Corporation's revenue distribution showed strong performance across various regions. In the Americas, total revenues reached $505 million, while revenues from Asia totaled $350 million, indicating a diversified customer base. The company’s strategic focus on expanding its market presence in Asia, particularly in China, contributed to this growth. The integration of the BDS Business is expected to enhance Waters' competitive position in the life sciences sector, particularly in diagnostics and biosciences.

Looking ahead, Waters Corporation anticipates that the integration of the BDS Business will yield significant synergies and enhance its product offerings. The company expects to leverage its expanded capabilities to drive future revenue growth and improve profitability. However, management acknowledged the challenges associated with integrating the new business and the potential impact of market conditions on its operations. The company remains committed to monitoring its financial performance closely as it navigates this transitional period.