Core Insights - Agilent Technologies reported first-quarter fiscal 2024 earnings of $1.29 per share, exceeding the Zacks Consensus Estimate by 6.6%, but down 6% year-over-year [1] - Revenues reached $1.66 billion, surpassing the Zacks Consensus Estimate of $1.57 billion, yet declined 5.6% on a reported basis and 6.4% on a core basis compared to the previous year [1] - The revenue decline was attributed to widespread weakness across all end markets, particularly in Pharma, Chemistry & Advanced Materials, Food, and Diagnostics and Clinical markets, along with weak momentum in China [1] Segmental Performance - Life Sciences & Applied Markets Group (LSAG) generated $846 million, accounting for 51% of total revenues, down 10% reported and 11% core year-over-year, missing the consensus estimate of $849 million [2] - Agilent Cross Lab Group (ACG) reported revenues of $405 million, representing 24% of total revenues, exceeding the consensus mark of $385 million, with a 6% increase reported and 5% core year-over-year [3] - Diagnostics and Genomics Group (DGG) revenues decreased 6% year-over-year to $407 million, accounting for 25% of total revenues, but surpassed the consensus estimate of $332 million [3] Operating Results - Gross margin in the LSAG segment contracted by 130 basis points to 60.2%, while ACG's gross margin expanded by 200 basis points to 50.5%, and DGG's gross margin increased by 20 basis points to 52.8% [4] - Research and development costs rose to $128 million, up 4.1% year-over-year, while selling, general and administrative expenses decreased to $396 million, down 5.5% year-over-year [4] - The overall operating margin for the quarter was 23.2%, contracting 110 basis points from the previous year, with LSAG's operating margin down 390 basis points to 27.9% [4] Balance Sheet & Cash Flow - As of January 31, 2024, Agilent's cash and cash equivalents increased to $1.75 billion from $1.59 billion as of October 31, 2023 [5] - Accounts receivables were $1.295 billion, slightly up from $1.291 billion at the end of the previous quarter [6] - Long-term debt decreased to $2.555 billion from $2.735 billion in the prior quarter, while cash generated from operations was $485 million, down from $516 million [6] Guidance - For the second quarter of fiscal 2024, management anticipates revenues between $1.560 billion and $1.590 billion, indicating a decline of 9.1-7.4% reported and 8.4-6.7% core year-over-year [7] - Non-GAAP earnings per share are projected to be between $1.17 and $1.20, with the consensus estimate at $1.27 [7] - For fiscal 2024, expected revenues are between $6.710 billion and $6.810 billion, suggesting a decline of 1.8-0.3% reported year-over-year, with non-GAAP earnings per share projected at $5.44-$5.55 [7]

Key TakeawaysAgilent Technologies shares jumped after the company topped analysts' expectations for revenue and profit in its fiscal first quarter amid stabilization in China and secular growth drivers in applied markets.CEO Mike McMullen said that he expects the market environment to undergo a slow and steady improvement in the second half of the year.Agilent shares may encounter overhead chart resistance from prior price action around $141 and $160. Agilent Technologies, Inc. Source: TradingView.com.Sh ...

Agilent Technologies, Inc. (NYSE:A) Q1 2024 Earnings Conference Call February 27, 2024 4:30 PM ET Company Participants Parmeet Ahuja - Investor Relations Padraig McDonnell - Chief Operating Officer & Chief Executive Officer-elect Mike McMullen - President & Chief Executive Officer Robert McMahon - Senior Vice President & Chief Financial Officer Angelica Riemann - President of Agilent CrossLab Group Phil Binns - President of Agilent Life Sciences & Applied Markets Group Conference Call Participants Derik De ...

For the quarter ended January 2024, Agilent Technologies (A) reported revenue of $1.66 billion, down 5.6% over the same period last year. EPS came in at $1.29, compared to $1.37 in the year-ago quarter.The reported revenue represents a surprise of +5.53% over the Zacks Consensus Estimate of $1.57 billion. With the consensus EPS estimate being $1.21, the EPS surprise was +6.61%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Str ...

Agilent Technologies (A) came out with quarterly earnings of $1.29 per share, beating the Zacks Consensus Estimate of $1.21 per share. This compares to earnings of $1.37 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.61%. A quarter ago, it was expected that this scientific instrument maker would post earnings of $1.34 per share when it actually produced earnings of $1.38, delivering a surprise of 2.99%.Over the last four qu ...

Investors are eager for stocks that can keep etching out gains with the S&P 500 and Nasdaq already up over +6% this year following stellar performances for both indexes in 2023.Of course, investors should never get over-consumed with FOMO but several top-rated Zacks stocks look attractive ahead of their quarterly reports on Tuesday, February 27. With representation from a variety of sectors here are three of these top-rated stocks to consider as earnings approach.Agilent Technologies (A) Tech stocks continu ...

Agilent Technologies (A) is set to report its first-quarter fiscal 2023 results on Feb 27.For the fiscal first quarter, the company expects revenues of $1.555-$1.605 billion, suggesting a decline of 11.4-8.6% on a reported basis from the year-ago quarter’s actuals. The Zacks Consensus Estimate for the same is pegged at $1.57 billion, implying a decline of 10.5% from the year-ago quarter’s reported figure.Agilent’s non-GAAP earnings are expected to be $1.20-$1.23 per share. The Zacks Consensus Estimate for e ...

Exhibit 99.1 Agilent Reports First-Quarter Fiscal Year 2024 Financial Results Revenue and earnings exceed Q1 guidance Full-year outlook maintained Highlights • Revenue of $1.66 billion, down 5.6% reported and 6.4% core(1) from the first quarter of 2023. • GAAP net income of $348 million; earnings per share (EPS) of $1.18, down 1% from the first quarter of 2023. • Non-GAAP(2) net income of $380 million; EPS of $1.29, down 6% from the first quarter of 2023. • Full-year revenue outlook maintained at $6.710 bil ...

Wall Street analysts forecast that Agilent Technologies (A) will report quarterly earnings of $1.21 per share in its upcoming release, pointing to a year-over-year decline of 11.7%. It is anticipated that revenues will amount to $1.57 billion, exhibiting a decline of 10.5% compared to the year-ago quarter.The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial ...

SANTA CLARA, Calif.--(BUSINESS WIRE)--Agilent Technologies Inc. (NYSE: A) today announced a quarterly dividend of 23.6 cents per share of common stock will be paid on April 24, 2024, to all shareholders of record as of the close of business on April 2, 2024. The timing and amounts of future dividends are subject to determination and approval by Agilent’s board of directors. About Agilent Technologies Agilent Technologies Inc. (NYSE: A) is a global leader in analytical and clinical laboratory technologies ...