Agilent Technologies Reports Fourth Quarter Financial Results and FY25 Outlook

Agilent Technologies Reports Fourth Quarter Financial Results and FY25 Outlook

Agilent Technologies announced its financial results for the fourth quarter of fiscal year 2024 (Q4 FY24) on November 25, 2024. The company reported revenue of $1.70 billion for the quarter, marking a 0.8% increase on a reported basis and a 0.3% decrease in core business compared to the same period in the previous year.

The company's GAAP net income stood at $351 million, or $1.22 per share. On a non-GAAP basis, which excludes certain adjustments, net income was $418 million, or $1.46 per share. This represents a 6% increase in non-GAAP earnings per share compared to the prior year's fourth quarter.

For the full fiscal year 2024, Agilent reported total revenue of $6.51 billion, a 4.7% decrease on a reported basis year-over-year. The full-year non-GAAP earnings per share were $5.29, a 3% decrease from fiscal year 2023.

Looking ahead to fiscal year 2025, Agilent provided guidance indicating expected revenue in the range of $6.79 billion to $6.87 billion, representing a core business growth of 2.5% to 3.5%. Non-GAAP earnings per share are projected to be between $5.54 and $5.61.

President and CEO Padraig McDonnell stated that the team executed well in the fourth quarter as markets continued to recover. He also highlighted a new market-based, customer-first strategy and an organizational change designed to position the company for future growth opportunities.