Waters Corporation announced strong financial results for the second quarter of 2025 on August 4, 2025, with sales reaching $771 million, an increase of 9% as reported and 8% in constant currency, surpassing expectations. Non-GAAP diluted EPS grew 12% to $2.95, aligning with analyst consensus.
The company's performance was driven by robust instrument replacement trends, particularly among large pharma and CDMO customers, and rapid uptake of new products. Contributions from incremental growth vectors such as GLP-1s, PFAS, and generics also played a significant role.
Waters raised its full-year 2025 constant currency sales growth guidance to a range of +5.5% to +7.5% and its non-GAAP EPS guidance to $12.95 to $13.05. The company also noted that its combination with BD Biosciences & Diagnostic Solutions accelerates its strategy into multiple high-growth adjacencies, with integration planning already underway.
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