Agilent Technologies Reports Fourth-Quarter and Fiscal Year 2022 Financial Results
Agilent Technologies reported Q4 revenue of $1.85 billion, an 11% increase year-over-year. Full-year revenue reached $6.85 billion, marking an 8% increase. The company also provided its outlook for fiscal year 2023.
Agilent Technologies announced on November 22, 2022, that its revenue for the fourth quarter ended October 31, 2022, was $1.85 billion. This represents an 11% reported increase compared to the fourth quarter of fiscal year 2021.
For the full fiscal year 2022, Agilent reported revenues of $6.85 billion, an increase of 8% year-over-year. The company's GAAP net income was $1.254 billion, or $4.18 per share, up 6% from fiscal year 2021. Non-GAAP net income was $1.565 billion, or $5.22 per share, up 20% for the full year.
The company projects fiscal year 2023 revenue to be in the range of $6.90 billion to $7.00 billion. President and CEO Mike McMullen stated that the Agilent team delivered double-digit core revenue growth in each business group during FY 2022, setting the company up well for the new fiscal year.
The fourth-quarter GAAP net income came in at $368 million, or $1.23 per share. Non-GAAP net income for the quarter was $456 million, or $1.53 per share. Agilent noted that it implemented changes to its segment reporting structure earlier in 2022, which did not impact consolidated financial statements.