Agilent Technologies Reports Q3 Results Above Guidance, Raises Full-Year Outlook
Agilent Technologies announced third-quarter revenue of $1.58 billion, exceeding its guidance. The company also raised its full-year earnings forecast.
Agilent Technologies (NYSE: A) reported $1.58 billion in revenue for its third fiscal quarter ended July 31, 2024. This represents a 5.6% decrease on a reported basis and a 4.4% decrease in core business compared to the same period last year.
The company posted a GAAP net income of $282 million, or $0.97 per share. Non-GAAP net income was $385 million, or $1.32 per share. Despite continued market challenges, President and CEO Padraig McDonnell stated the team executed well, delivering results above expectations.
Agilent has raised its revenue outlook for the full fiscal year 2024 to a range of $6.45 billion to $6.50 billion. The full-year non-GAAP earnings per share guidance has also been revised upwards to $5.21 to $5.25.
The Life Sciences and Applied Markets Group (LSAG) saw a revenue decline of 8%, while the Agilent CrossLab Group (ACG) revenue increased by 4%. The Diagnostics and Genomics Group (DGG) reported a 9% decrease in revenue.