What changed in WAT's 10-Q

Due to the acquisition of the BDS Business on February 9, 2026, period over period comparability of the Company's financial results has been materially impacted.

The decline in the net loss per diluted common share to $0.87 in the first quarter of 2026 as compared to the $2.03 of net income per diluted common share in the first quarter of 2025 is attributed to the following BDS Business Acquisition-related items

Excluding the BDS Business revenue, legacy revenue increased 13%, primarily due to broad-based growth across all product lines and geographical regions.

Interest expense, net, increased $32 million in the first quarter of 2026, which can be primarily attributed to the financing costs incurred by the Company related to the funding of the BDS Business Acquisition.

The decline is primarily attributable to the net $140 million receivable due from BD, relating to net cash settlement for activity since the Closing Date, and $88 million of payments made in connection with transaction and integration costs associated with the BDS Business Acquis

The change between the effective tax rates can primarily be attributed to the impact of discrete tax benefits, primarily transaction costs, in the current period and differences in the proportionate amounts of pre-tax income, due to the BDS Business Acquisition

The TSA is intended to provide continuity of operations during the post-transaction integration for a period of up to three years at an annual cost of approximately $90 million.