Waters Corporation (WAT), a provider of analytical instruments, diagnostics technologies, scientific software, and others, on Tuesday posted a net loss for the first quarter. However, the company's revenue surged, helped by the newly acquired businesses.
For the three-month period to April 4, the company recorded a net loss of $72 million, or $0.87 per share, compared with a profit of $121 million, or $2.03 per share in the same period last year. This net loss was mainly due to the acquisition-related purchase accounting charges, including amortization of acquired intangibles and inventory step-up.
Excluding items, earnings were $222 million, or $2.70 per share, higher than the $134 million, or $2.25 per share, in the previous year.
Operating loss stood at $47 million, as against earnings of $151 million a year ago. Cost of revenue, which includes $99 million of fair value adjustments, was negative $672 million, compared with negative $277 million in the previous year.
Revenue surged to $1.256 billion from last year's $662 million. This surge in revenue reflects $520 million of revenue from Biosciences and Diagnostic Solutions from the transaction closing date through to the end of the quarter.
Looking ahead, for the second quarter, the company expects a steep rise in revenue.
For the second quarter of fiscal 2026, Waters expects adjusted income of $2.95 to $3.05 per share, with revenue of $1.616 billion to $1.631 billion. For the second quarter of fiscal 2025, Waters had posted an adjusted income of $2.95 per share, with revenue of $771.33 million.
For the full year, the company has revised up its earnings outlook to reflect the increased momentum across its businesses.
For fiscal 2026, Waters anticipates adjusted profit of $14.40 to $14.60 per share, compared with the previous expectation of $14.30 to $14.50 per share. For fiscal 2026, the company has reaffirmed its revenue outlook of $6.405 billion to $6.455 billion.
For fiscal 2025, Waters had registered adjusted income of $13.13 per share, with revenue of $3.165 billion.
WAT was up by 7.40% at $324.05 in the pre-market trade on the New York Stock Exchange.
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