Waters Corp (NYSE:WAT) Reports Q2 2025 Revenue Beat but Slight EPS Miss

Waters Corp (NYSE:WAT) Beats Revenue Estimates but Misses Slightly on EPS in Q2 2025

Waters Corp reported its second-quarter 2025 financial results, delivering mixed performance relative to analyst expectations. The company posted revenue of $771.3 million, surpassing the consensus estimate of $756.1 million and marking a 9% year-over-year increase on a reported basis (8% in constant currency). However, non-GAAP earnings per share (EPS) came in at $2.95, slightly below the anticipated $2.97.

Key Takeaways from Q2 2025 Earnings

• Revenue Growth: Sales of $771.3 million exceeded guidance and analyst expectations, driven by strong performance across its liquid chromatography and mass spectrometry segments.
• EPS Performance: Non-GAAP EPS of $2.95 was marginally below estimates, though GAAP EPS stood at $2.47.
• Market Reaction: The stock showed modest pre-market movement, rising approximately 2.7%, suggesting cautious optimism despite the slight EPS miss. Over the past month, shares have declined by 17.1%, reflecting broader market sentiment or sector-specific pressures.

Comparing Estimates and Performance

The revenue beat indicates continued demand for Waters’ analytical instruments and workflow solutions, particularly in pharmaceutical and industrial markets. However, the slight EPS miss may reflect margin pressures, possibly from higher operational costs or investments in R&D and expansion.

Looking ahead, analysts project Q3 2025 revenue at $783.9 million and full-year 2025 sales at $3.14 billion. The company did not provide explicit forward guidance in the press release, leaving investors to rely on these consensus estimates.

Press Release Highlights

The earnings announcement emphasized:

• Strong sales growth in both reported and constant currency terms.
• Continued adoption of high-performance liquid chromatography (HPLC) and mass spectrometry (MS) technologies.
• No major operational disruptions, suggesting stable execution in a challenging macroeconomic environment.

Market Sentiment and Price Action

The pre-market uptick suggests that investors are focusing more on the revenue beat than the minor EPS shortfall. However, the stock’s recent downtrend (-17.1% over the past month) indicates lingering concerns, possibly around valuation or sector headwinds. The coming weeks will reveal whether this earnings report marks a turning point or if broader market conditions continue to weigh on performance.

For a deeper dive into Waters Corp’s earnings history and future estimates, visit the earnings and estimates page.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research or consult a financial advisor before making any decisions.