Agilent Technologies, Inc. (NYSE:A) Jefferies Global Healthcare Conference June 7, 2023 9:00 AM ET Company Participants Mike McMullen - Chief Executive Officer Bob McMahon - Chief Financial Officer Conference Call Participants Brandon Couillard - Jefferies Brandon Couillard Welcome to the Jefferies 2023 New York Global Healthcare conference. Very happy to have Agilent with us at the conference today. Joining us, CEO, as most of you probably know, Mike McMullen; as well as CFO, Bob McMahon. Thanks, everybody ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended April 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For transition period from to Commission File Number: 001-15405 AGILENT TECHNOLOGIES, INC. (Exact Name of registrant as specified in its charter) Delaware 77-0518772 (State or other juris ...

Financial Data and Key Metrics Changes - Revenues for Q2 2023 were $1.72 billion, representing a 9.5% core growth year-over-year, exceeding expectations [4][12] - Operating margin increased to 25.6%, up 30 basis points from the previous year [5][16] - Earnings per share (EPS) rose to $1.27, reflecting a 12% increase year-over-year [5][16] Business Line Data and Key Metrics Changes - The Life Sciences and Applied Markets group generated revenues of $968 million, up 10% core, driven by backlog conversion and strong demand for LC and LCMS products, which grew 16% [6][12] - The Agilent CrossLab Group reported revenues of $387 million, a 13% core increase, primarily from service contracts [7][12] - The Diagnostics and Genomics Group's revenues were $362 million, up 3% core, with growth in pathology and NASD businesses, offset by weakness in genomics [8][12] Market Data and Key Metrics Changes - China experienced a remarkable 32% growth, significantly exceeding expectations, while Europe grew 5% and the Americas grew 3% [6][14] - The food market grew 21%, driven by strong performance in China [13] - The pharma market grew 6%, led by biopharma, while small molecule declined slightly [5][13] Company Strategy and Development Direction - The company is focusing on cost efficiencies and productivity to drive earnings growth in a constrained capital environment [10][11] - Agilent aims to continue investing in innovative solutions and customer support to enable future profitable growth [11][22] - The company remains confident in its long-term growth prospects despite current market challenges [21][22] Management's Comments on Operating Environment and Future Outlook - Management noted increased caution among customers, particularly in capital expenditures related to instruments, primarily affecting the pharma markets in the U.S. and China [9][10] - The company revised its core revenue growth forecast for the second half of the year to 3% to 4.5% and EPS growth to 7% to 8% [10][18] - Management expressed confidence in the company's ability to navigate challenges and maintain market share during downturns [21][80] Other Important Information - Operating cash flow was strong at $398 million, aided by deferred tax payments [17] - The company returned $151 million to shareholders through dividends and share repurchases [17] - Moody's upgraded Agilent's investment-grade rating to Baa1, reflecting the company's financial strength [17] Q&A Session Summary Question: What is the demand difference between mid to large pharma and smaller biotech? - Management indicated that small biotech is largely shut down due to cash conservation efforts, while medium to large pharma is showing increased conservatism in capital investments [25][26] Question: What are the trends in Europe regarding industrial demand? - Management noted cautiousness in the chemical sector in Europe but overall positive results [30] Question: What were the trends in April and how do they affect guidance? - Management observed increased caution from customers in April, leading to a downward revision in guidance for the second half [33][34] Question: What is the impact of the new COVID wave in China? - Management does not expect the new COVID wave to impact the second half guidance, as previous waves have been navigated successfully [42] Question: What is the outlook for the chemical and advanced materials market? - Management expects mid- to high single-digit growth in the chemical and advanced materials market, driven by fundamental drivers like semiconductors and batteries [53] Question: What is the status of the backlog and order trends? - Management reported a normalized backlog and noted that orders grew faster than revenues in Q1 but reversed in Q2 [59][60]

WASHINGTON, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended January 31, 2023 OR Table of Contents ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. UNITED STATES SECURITIES AND EXCHANGE COMMISSION 5301 Stevens Creek Blvd., Santa Clara, California 95051 (Address of principal executive offices) Registrant's telephone number, including area code: (800) 227-9770 Sec ...

Financial Data and Key Metrics Changes - Q1 revenues were $1.76 billion, representing a 10% core growth and a 5% reported growth year-over-year [5][14] - Operating margin increased to 27.1%, up 80 basis points from the previous year [5][16] - Earnings per share (EPS) rose to $1.37, reflecting a 13% increase [5][16] Business Line Data and Key Metrics Changes - Life Sciences and Applied Markets Group generated revenues of $1.03 billion, up 11% core [7] - Diagnostics and Genomics Group reported revenues of $342 million, a 5% core growth [9] - Agilent CrossLab Group achieved revenues of $381 million, up 13% core [8] Market Data and Key Metrics Changes - China led geographic growth with a 13% increase, exceeding expectations [6][16] - Europe experienced a 10% growth, while the Americas showed solid results with an 8% growth [6][16] - The environmental and forensics business grew by 12%, driven by increased testing for PFAS chemicals [15] Company Strategy and Development Direction - The company is focused on a "Build and Buy" growth strategy, emphasizing targeted investments in high-growth areas [11] - Agilent aims to expand its capabilities in genomics through partnerships and acquisitions, such as the integration of Avida Biomed [9][10] - The company is raising its full-year core revenue and EPS guidance while monitoring macroeconomic conditions [12][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength and resilience of the business despite macroeconomic uncertainties [11][19] - The company noted that the backlog remains healthy, with no significant cancellations, providing predictability for future revenues [71] - Management highlighted the ongoing demand in the semiconductor and advanced materials markets, expecting continued growth [50][66] Other Important Information - Agilent announced a 7% increase in dividends and a new $2 billion share repurchase authorization [18] - The company is investing $725 million to expand its oligo manufacturing capacity, which will double its current capabilities [9][20] Q&A Session Summary Question: Growth opportunities in Agilent CrossLab Group (ACG) - Management acknowledged significant growth opportunities in ACG, particularly in China and the chemicals and advanced materials sectors [21][24] Question: Outlook for instruments and backlog quality - Management confirmed that the quality of the backlog remains high, with no cancellations, and expressed confidence in revenue forecasts [25][26][71] Question: Performance in China and impact of Lunar New Year - Management attributed strong performance in China to effective execution and digital customer interactions, with Lunar New Year effects accounted for in guidance [28][46][47] Question: Semiconductor market outlook - Management reported strong demand in the semiconductor sector, particularly in spectroscopy, and noted ongoing investments in the industry [48][50] Question: Pricing contributions and volume expectations - Management expects a 3% pricing contribution for the full year, with volume growth anticipated to be similar [43][44] Question: Environmental spending and PFAS testing - Management highlighted ongoing opportunities in PFAS testing, supported by U.S. infrastructure funding, and noted the company's leading solutions in this area [74][76]

Summary of Agilent Technologies, Inc. Conference Call Company Overview - Agilent Technologies, Inc. is a $6.8 billion company serving 265,000 laboratories globally, with 59% of revenues derived from high-growth sectors such as pharmaceuticals, clinical diagnostics, and life sciences research [3][4][5]. Financial Performance - In FY 2022, Agilent achieved a 12% core revenue growth, following a 15% growth in the previous year. Operating margins improved by 160 basis points despite inflationary pressures [4][6]. - Earnings per share (EPS) grew by 20% in FY 2022, building on a 32% increase in FY 2021, rising from $1.74 to $5.22 [8][6]. - The company aims for double-digit EPS growth and a core revenue growth of 5% to 7% in the coming years [5][6]. Shareholder Value Creation - Agilent's model focuses on above-market growth, operating margin expansion, and balanced capital deployment, which has been consistent since 2015 [5][6]. - The company has returned $1.6 billion in dividends and repurchased $4.4 billion in shares since 2015, with an additional $2 billion share repurchase program authorized [10][10]. Sustainability and ESG Initiatives - Agilent is committed to achieving net-zero emissions by 2050, having reduced its carbon emissions by 34% since 2014 [11][12]. - The company is focused on helping customers meet their sustainability goals through energy-efficient product designs and a unique refurbished business unit [12][13]. Growth Drivers and Market Focus - Agilent is diversifying its business with a focus on high-growth markets, particularly in pharmaceuticals and clinical diagnostics, which now account for nearly 40% of total revenue [14][32]. - The company has shifted its revenue mix significantly, with recurring revenue increasing from 16% in 2008 to 58% today [16][31]. Biopharma and NASD Business - The biopharma segment has grown to represent 39% of Agilent's total pharma business, with a focus on therapeutic oligonucleotides and CRISPR technologies [19][20]. - Agilent plans to invest $725 million in expanding its NASD business, targeting a $1 billion revenue milestone by 2026 [21][22]. Market Trends and Future Outlook - Agilent anticipates continued growth in the biopharma space, with a projected total addressable market (TAM) of $1 billion for its NASD business, growing at 20% [20][22]. - The company expects revenues for FY 2023 to be between $6.9 billion and $7 billion, with core revenue growth of 5% to 6.5% [27][28]. Challenges and Risks - The company acknowledges potential challenges in the second half of FY 2023 due to tougher comparisons and market uncertainties, but maintains a positive outlook for the first half [43][46]. - Agilent's exposure to cyclical markets has decreased, with energy-related revenues now less than 2% of total revenues [32][33]. M&A Strategy - Agilent is open to pursuing larger M&A deals, focusing on sectors such as cell analysis, genomics, and diagnostics, while maintaining investment-grade credit ratings [66][72]. Conclusion - Agilent Technologies is positioned for continued growth through strategic investments in high-growth markets, a strong focus on sustainability, and a commitment to shareholder value creation, despite potential market challenges ahead [28][29].

2023 JP Morgan Healthcare Conference Agilent Presentation January 10, 2023 ...

Agilent Technologies, Inc. (NYSE:A) Goldman Sachs Healthcare CEOs Unscripted Conference January 5, 2022 2:05 PM ET Company Participants Mike McMullen – Chief Executive Officer Bob McMahon – Chief Financial Officer Conference Call Participants Matt Sykes – Goldman Sachs Matt Sykes All right. Good afternoon, everyone. I'm Matt Sykes, the Life Sciences Tools and Diagnostics analyst at Goldman Sachs. And today, we have the pleasure of kicking off the new year with Agilent, Mike McMullen, CEO; and Bob McMahon, ...

Agilent Technologies, Inc. (NYSE:A) Q4 2022 Earnings Conference Call November 21, 2022 4:30 PM ET Company Participants Parmeet Ahuja - Investor Relations Mike McMullen - President and Chief Executive Officer Robert McMahon - Senior Vice President and Chief Financial Officer Jacob Thaysen - President, Agilent Life Science and Applied Markets Group Padraig McDonnell - President, Agilent CrossLab Group Sam Raha - President, Agilent Diagnostics and Genomics Group Conference Call Participants Vijay Kumar - Everc ...