Waters said the BDS Business's total net sales for the 3 months ended December 31, 2025 were $766 million, below $834 million in the prior-year period, and operating income was $35 million, compared with $94 million in the prior-year period.

1. 01

   Waters said the BDS Business's total net sales for the 3 months ended December 31, 2025 were $766 million, below $834 million in the prior-year period, and operating income was $35 million, compared with $94 million in the prior-year period.

2. 02

   The company said net income for the BDS Business for the 3 months was $49 million, compared with $78 million in the prior-year period, and income tax was a $16 million benefit, compared with a $15 million provision in the prior-year period.

3. 03

   Waters said net cash provided by operating activities for the BDS Business for the 3 months was $132 million, compared with $162 million in the prior-year period, and net transfers to Parent of $110 million were used in financing activities, compared with $135 million in the prior-year period.

4. 04

   The company said the transaction to combine BD's Biosciences and Diagnostic Solutions businesses was completed on February 9, 2026, with the transaction structured as an initial spin-off followed by a Reverse Morris Trust merger and including a $4 billion SpinCo Cash Distribution to BD.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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