Looking back on research tools & consumables stocks’ Q1 earnings, we examine this quarter’s best and worst performers, including Waters Corporation (NYSE: WAT) and its peers.

The life sciences subsector specializing in research tools and consumables enables scientific discoveries across academia, biotechnology, and pharmaceuticals. These firms supply a wide range of essential laboratory products, ensuring a recurring revenue stream through repeat purchases and replenishment. Their business models benefit from strong customer loyalty, a diversified product portfolio, and exposure to both the research and clinical markets. However, challenges include high R&D investment to maintain technological leadership, pricing pressures from budget-conscious institutions, and vulnerability to fluctuations in research funding cycles. Looking ahead, this subsector stands to benefit from tailwinds such as growing demand for tools supporting emerging fields like synthetic biology and personalized medicine. There is also a rise in automation and AI-driven solutions in laboratories that could create new opportunities to sell tools and consumables. Nevertheless, headwinds exist. These companies tend to be at the mercy of supply chain disruptions and sensitivity to macroeconomic conditions that impact funding for research initiatives.

The 10 research tools & consumables stocks we track reported a mixed Q1. As a group, revenues beat analysts’ consensus estimates by 1.3% while next quarter’s revenue guidance was 2% above.

Luckily, research tools & consumables stocks have performed well with share prices up 22.5% on average since the latest earnings results.

Best Q1: Waters Corporation (NYSE: WAT)

Founded in 1958 and pioneering innovations in laboratory analysis for over six decades, Waters (NYSE: WAT) develops and manufactures analytical instruments, software, and consumables for liquid chromatography, mass spectrometry, and thermal analysis used in scientific research and quality testing.

Waters Corporation reported revenues of $1.27 billion, up 91.5% year on year. This print exceeded analysts’ expectations by 4.5%. Overall, it was a very strong quarter for the company with an impressive beat of analysts’ organic revenue estimates and revenue guidance for next quarter exceeding analysts’ expectations.

"Thanks to the hard work of our teams, we delivered an excellent first quarter as a combined company," said Udit Batra, Ph.D., President & Chief Executive Officer, Waters Corporation.

Waters Corporation pulled off the biggest analyst estimate beat, highest guidance raise, and fastest revenue growth among its peers. Unsurprisingly, the stock is up 25% since reporting and currently trades at $377.26.

Is now the time to buy Waters Corporation? Access our full analysis of the earnings results here, it’s free.

Avantor (NYSE: AVTR)

With roots dating back to 1904 and embedded in virtually every stage of scientific research and production, Avantor (NYSE: AVTR) provides mission-critical products, materials, and services to customers in biopharma, healthcare, education, and advanced technology industries.

Avantor reported revenues of $1.58 billion, flat year on year, outperforming analysts’ expectations by 2.7%. The business had a very strong quarter with an impressive beat of analysts’ organic revenue and EPS estimates.

The market seems happy with the results as the stock is up 43.3% since reporting. It currently trades at $11.26.

Is now the time to buy Avantor? Access our full analysis of the earnings results here, it’s free.

Slowest Q1: Revvity (NYSE: RVTY)

Formerly known as PerkinElmer until its rebranding in 2023, Revvity (NYSE: RVTY) provides health science technologies and services that support the complete workflow from discovery to development and diagnosis to cure.

Revvity reported revenues of $686.9 million, up 9.3% year on year, falling short of analysts’ expectations by 2.6%. It was a softer quarter as it posted full-year revenue and EPS guidance missing analysts' estimates.

Revvity delivered the weakest performance against analyst estimates and weakest full-year guidance update of the whole group. Interestingly, the stock is up 29.1% since the results and currently trades at $111.70.

Read our full analysis of Revvity’s results here.

Sotera Health Company (NASDAQ: SHC)

With a critical role in ensuring the safety of millions of patients worldwide, Sotera Health (NASDAQGS:SHC) provides sterilization services, lab testing, and advisory services to ensure medical devices, pharmaceuticals, and food products are safe for use.

Sotera Health Company reported revenues of $280 million, up 10% year on year. This result topped analysts’ expectations by 3.6%. Overall, it was a strong quarter as it also logged an impressive beat of analysts’ organic revenue estimates and EPS in line with analysts’ estimates.

The stock is up 18.8% since reporting and currently trades at $18.28.

Read our full, actionable report on Sotera Health Company here, it’s free.

Bio-Techne (NASDAQ: TECH)

With a catalog of hundreds of thousands of specialized biological products used in laboratories worldwide, Bio-Techne (NASDAQ: TECH) develops and manufactures specialized reagents, instruments, and services that help researchers study biological processes and enable diagnostic testing and cell therapy development.

Bio-Techne reported revenues of $311.4 million, down 1.5% year on year. This print came in 1.6% below analysts’ expectations. Overall, it was a softer quarter as it also produced a miss of analysts’ organic revenue estimates and EPS in line with analysts’ estimates.

Bio-Techne had the slowest revenue growth in the group. The stock is up 26.1% since reporting and currently trades at $71.49.

Read our full, actionable report on Bio-Techne here, it’s free.

Market Update

Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.

Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.

By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.

Want to invest in winners with rock-solid fundamentals? Check out our Top 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.