Financial Data and Key Metrics Changes - Agilent reported Q4 revenue of $1.86 billion, growing 7.2% on a core basis, marking the sixth consecutive quarter of core growth acceleration [8][28] - Earnings per share for the quarter was $1.59, above the midpoint of guidance and reflecting a 9% year-over-year growth [31] - Gross margins improved sequentially by 100 basis points to 54.1%, although down 100 basis points year-over-year due to tariff headwinds [30] Business Segment Data and Key Metrics Changes - Life Sciences and Diagnostics Group (LDG) grew 11%, driven by strong performance in LC and LCMS instruments and robust CDMO results [29] - Applied Markets Group (AMG) grew 3%, led by high single-digit growth in GC and GCMS [29] - Agilent CrossLab Group (ACG) grew 6%, with high single-digit growth in the rest of the world offset by mid-single-digit declines in China [29] Market Data and Key Metrics Changes - The pharma market saw a 12% growth, with biotech spending growing in the low 20s during the quarter [18][19] - Chemical and advanced materials grew 7%, driven by strong demand in the Americas and Europe [20] - Diagnostics and clinical grew 7%, while environmental and forensics grew 9% [20] Company Strategy and Development Direction - Agilent's strategy focuses on innovative products and services, customer intimacy, increased capabilities, and the Ignite Operating System to drive long-term growth [10][15] - The company aims to advance its Ignite operating system, sharpen commercial execution, and capture opportunities from improving end markets [22][24] - Agilent anticipates 4%-6% core growth for FY2026, supported by structural growth drivers and a focus on instrument replacement cycles [24][26] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the improving pharma market and the potential for reshoring in the pharmaceutical sector [23][60] - The company expects to deliver 75 basis points of operating margin expansion in FY2026, with a focus on innovation and strategic capacity expansion [25][26] - Management highlighted the importance of customer relationships and the positive impact of recent product innovations on future growth [50][66] Other Important Information - Agilent's Ignite Operating System has already delivered over $150 million in annualized savings and improved operational efficiencies [16][17] - The company is focused on deploying capital where it delivers the highest long-term value, balancing investments in innovation and returning capital to shareholders [26][27] Q&A Session Summary Question: Comments on BIOVECTRA performance and CapEx increase - Management expressed satisfaction with BIOVECTRA's performance, attributing strong results to GLP business and indicating plans for key molecules in 2026 [40] - The $100 million CapEx increase is primarily for NASD capacity and consumable expansion [41] Question: Insights on margins and potential for improvement - Management guided for a 75 basis points margin improvement in 2026, driven by pricing optimization and operational efficiencies [42][43] Question: General tone from biopharma customers - Management noted a 12% growth in pharma and low 20s growth in biotech, indicating improved funding and capital spending among large biotech firms [49][50] Question: Visibility on NASD business and capacity expansion - Management confirmed a robust order book for NASD and indicated that capacity expansions are expected to come online in early to mid-2027 [54] Question: Performance in China and future expectations - Management reported a 4% decline in China, attributing it to various market dynamics and maintaining a stable revenue expectation of around $300 million per quarter [57][58] Question: Growth outlook for GLP-1s and competitive positioning - Management indicated that GLP-1 revenue was approximately $130 million in 2025, with strong growth expected in 2026, particularly in India [64][66] Question: Academic and government market performance - Management reported a 10% decline in the academic and government market, primarily due to U.S. federal spending reductions [70]

Financial Data and Key Metrics Changes - Agilent reported Q4 revenue of $1.86 billion, growing 7.2% on a core basis, marking the sixth consecutive quarter of core growth acceleration [8][27] - Earnings per share for the quarter was $1.59, above the midpoint of guidance and reflecting a 9% year-over-year growth [31] - Gross margins improved sequentially by 100 basis points to 54.1%, although down 100 basis points year-over-year due to tariff headwinds [30] Business Line Data and Key Metrics Changes - Life Sciences and Diagnostics Markets Group (LDG) grew 11%, driven by strong performance in LC and LCMS instruments and robust CDMO results [28] - Applied Markets Group (AMG) grew 3%, led by high single-digit growth in GC and GCMS [28] - Agilent CrossLab Group (ACG) grew 6%, with high single-digit growth in the rest of the world offset by mid-single-digit declines in China [28] Market Data and Key Metrics Changes - The pharma market saw a 12% growth, with biotech spending growing in the low 20s during the quarter [19][24] - Chemical and advanced materials grew 7%, driven by strong demand in the Americas and Europe [20] - Diagnostics and clinical grew 7%, while environmental and forensics grew 9% [20] Company Strategy and Development Direction - Agilent's strategy focuses on innovative products and services, customer intimacy, increased capabilities, and the Ignite operating system to drive long-term growth [10][18] - The company aims to advance its Ignite operating system, sharpen commercial execution, and capture opportunities from improving end markets [23][24] - Agilent anticipates mid-teens growth in specialty CDMO pharma services and continued strength in diagnostics and clinical testing demand [24][25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the improving visibility around pricing and a stabilizing tariff environment, particularly in the pharma sector [24] - The company expects 4%-6% core growth for FY2026, driven by instrument replacement cycles and demand for specialty CDMO services [25][32] - Management highlighted the importance of reshoring in pharma and anticipates a $1 billion addressable market opportunity by 2030 [50] Other Important Information - Operating cash flow for Q4 was $545 million, with $93 million invested in capital expenditures and $85 million in share repurchases [31] - The company increased its dividend by 3%, reflecting strong financial discipline [31] - Agilent's integration of BioVectra is seen as a positive contributor to future growth [39] Q&A Session Summary Question: Comment on BioVectra's performance - Management expressed satisfaction with BioVectra's performance, driven by GLP business, and highlighted strong integration [39] Question: Clarification on margin guidance - Management provided insights on the 75 basis points margin improvement guidance, attributing it to Ignite pricing optimization and operational efficiencies [40] Question: General tone from biopharma customers - Management noted a positive sentiment in pharma, with a 12% growth overall, and indicated that biotech is starting to recover [42] Question: Visibility on NASD business - Management confirmed a robust order book for the NASD business, with capacity expansions planned for 2026 [45][47] Question: Downside variance in China - Management explained that China experienced a 4% decline, with stable contributions around $300 million per quarter, and noted the impact of federal spending reductions [48][49] Question: Growth outlook for GLP-1s - Management indicated that GLP-1 revenue was about $130 million in 2025, with expectations for continued growth in 2026 [51][52] Question: Academic and government market performance - Management reported a 10% decline in the academic and government market, primarily due to U.S. federal spending reductions [53][54]

FINANCIAL RESULTS OVERVIEW 4Q FY2025 November 24, 2025 Thank You for Your Attention Safe Harbor This presentation contains forward- looking statements (including, without limitation, information, and future guidance on the company's revenue, revenue growth, earnings per share, operating cash flow, capital expenditures, net interest and other/expense, impact of acquisitions and related financing, share repurchases, dividends, diluted share counts, and currency exchange rates) that involve risks and uncertain ...

Financial Performance - Revenue for Q4 FY2025 was $1.86 billion, exceeding guidance and representing a growth of 9.4% reported and 7.2% on a core basis compared to Q4 FY2024 [4]. - GAAP net income for Q4 FY2025 was $434 million, with EPS of $1.53, up 25% from Q4 FY2024 [5]. - Non-GAAP net income for Q4 FY2025 was $452 million, with EPS of $1.59, up 9% from Q4 FY2024 [5]. - Total revenue for FY2025 was $6.95 billion, exceeding guidance and representing a growth of 6.7% reported and 4.9% on a core basis compared to FY2024 [4]. - GAAP net income for FY2025 was $1.303 billion, with EPS of $4.57, up 3% from FY2024 [4]. - Non-GAAP net income for FY2025 was $1.592 billion, with EPS of $5.59, up 6% from FY2024 [4]. - FY2026 revenue is expected to be in the range of $7.3 billion to $7.4 billion, representing growth of 5% to 7% reported and 4% to 6% core [4]. - Q1 FY2026 revenue guidance is expected to be in the range of $1.79 billion to $1.82 billion, an increase of 6% to 8% reported and 4% to 6% core [8]. Segment Performance - Life Sciences and Diagnostics Markets Group reported Q4 revenue of $755 million, an increase of 15% reported and 11% core year-over-year [7]. - Agilent CrossLab Group reported Q4 revenue of $755 million, an increase of 7% reported and 6% core year-over-year [7]. - Revenue for the Life Sciences and Diagnostics segment in Q4 2025 was $755 million, a 15% increase from $657 million in Q4 2024 [37]. - Revenue for the Agilent CrossLab segment in Q4 2025 was $755 million, up from $706 million in Q4 2024, representing a growth of 6.9% [38]. - Applied Markets Segment revenue for Q4'25 was $351 million, a 4% increase from $338 million in Q4'24 [39]. - Life Sciences and Diagnostics Markets Segment revenue for FY25 reached $2,726 million, up 11% from $2,466 million in FY24 [47]. - Agilent CrossLab Segment revenue for FY25 was $2,908 million, reflecting a 6% increase from $2,747 million in FY24 [47]. - Non-GAAP revenue for Agilent in Q4'25 was $1,839 million, an 8% increase year-over-year [45]. - Non-GAAP revenue for the Applied Markets Segment in FY25 was $1,314 million, reflecting a 1% increase from FY24 [47]. Margins and Assets - Operating margin for the Life Sciences and Diagnostics segment improved to 22.7% in Q4 2025 from 21.5% in Q4 2024 [37]. - Operating margin for the Agilent CrossLab segment decreased to 32.5% in Q4 2025 from 33.8% in Q4 2024 [38]. - Gross margin for the Life Sciences and Diagnostics Markets Segment decreased to 52.3% in FY25 from 54.5% in FY24 [40]. - Operating margin for the Applied Markets Segment in FY25 was 22.9%, down from 24.0% in FY24 [42]. - The Agilent CrossLab Segment's operating margin decreased to 32.5% in FY25 from 33.7% in FY24 [41]. Balance Sheet Highlights - Total assets increased to $12,727 million in 2025 from $11,846 million in 2024, representing a growth of 7.4% [20]. - Cash and cash equivalents rose to $1,789 million in 2025, up from $1,329 million in 2024, marking a 34.6% increase [20]. - Total current liabilities increased to $2,347 million in 2025 from $1,895 million in 2024, a rise of 23.9% [20]. - Total stockholders' equity grew to $6,741 million in 2025, compared to $5,898 million in 2024, reflecting an increase of 14.3% [20]. - Net income for the fiscal year ended October 31, 2025, was $1,303 million, compared to $1,289 million in 2024, reflecting a growth of 1.1% [24]. - Non-GAAP net income for 2025 was $1,592 million, up from $1,539 million in 2024, indicating a 3.4% increase [24]. Year-over-Year Growth - Year-over-year revenue growth for the Life Sciences and Diagnostics Markets Segment was 12% at constant currency in Q4'25 [45]. - Agilent's total revenue for FY25 was $6,948 million, representing a 7% increase from $6,510 million in FY24 [47].

Core Insights - Agilent Technologies reported revenue of $1.86 billion for Q4 2025, exceeding revenue guidance and showing a growth of 9.4% reported and 7.2% core compared to Q4 2024 [1] - The company's GAAP net income for Q4 2025 was $434 million, or $1.53 per share, an increase from $351 million, or $1.22 per share, in Q4 2024 [1] - Non-GAAP net income for Q4 2025 was $452 million, or $1.59 per share [1]

Core Insights - Agilent Technologies reported fourth-quarter revenue that exceeded estimates, driven by robust demand for medical tools and equipment utilized in laboratory research and diagnostic services [1] Company Summary - Agilent Technologies is a life sciences firm that has shown strong performance in the fourth quarter, indicating a positive trend in revenue generation [1] - The company's success is attributed to the increasing need for medical tools and equipment, reflecting a growing market in lab research and diagnostics [1]

Earnings Reports Overview - The current earnings season is nearing its end, with notable companies reporting during the holiday-shortened week [1] - Retail investors are particularly focused on earnings reports from major companies [1] Company-Specific Earnings Reports - WeRide Inc. (NASDAQ:WRD) and LexinFintech Holdings Ltd. (NASDAQ:LX) reported before the market opened on November 24, both showing better-than-expected results, leading to stock price increases [2] - Zoom Communications Inc. (NASDAQ:ZM) is expected to report third-quarter results after the market closes on November 24, with analysts predicting earnings of $1.44 per share and revenue of $1.21 billion [3] - Alibaba Group Holding Ltd. (NYSE:BABA) will release its Q2 earnings report before the market opens on November 25, with expectations of adjusted earnings of 81 cents per share and revenue of $34.43 billion [3] - Retailers Kohl's Corp. (NYSE:KSS) and Best Buy Co. Inc. (NYSE:BBY) are anticipated to provide insights into consumer behavior with their reports on November 25 [4] - Cleanspark Inc. (NASDAQ:CLSK), Dell Technologies Inc. (NYSE:DELL), and Zscaler Inc. (NASDAQ:ZS) are set to report after the market closes on November 25 [5] - Li Auto Inc. (NASDAQ:LI) and EHang Holdings Ltd. (NASDAQ:EH) will report their results before the market opens on November 26, alongside Deere & Co. (NYSE:DE), which has consistently beaten analyst expectations for 12 consecutive quarters [6] Market Schedule - U.S. stock markets will be closed on November 27 for the Thanksgiving holiday [8] - The stock market will have an early closure at 1 p.m. ET on November 28 [9]

Core Insights - Agilent Technologies, Inc. is set to release its fourth-quarter earnings results on November 24, with analysts expecting earnings of $1.58 per share, an increase from $1.46 per share in the same period last year [1] - The consensus estimate for Agilent's quarterly revenue is $1.83 billion, compared to $1.7 billion in the previous year [1] - A cash dividend of 25.5 cents per share was announced by Agilent on November 19 [1] Stock Performance - Agilent's shares increased by 4.3%, closing at $151.25 on Friday [2] Analyst Ratings - TD Cowen analyst Dan Brennan maintained a Buy rating and raised the price target from $150 to $162 [4] - UBS analyst Dan Leonard upgraded the stock from Neutral to Buy and increased the price target from $130 to $170 [4] - Rothschild & Co. analyst Natalya Davies initiated coverage with a Buy rating and a price target of $165 [4] - Wells Fargo analyst Brandon Couillard maintained an Overweight rating and raised the price target from $140 to $150 [4] - Baird analyst Catherine Schulte maintained an Outperform rating and increased the price target from $141 to $142 [4]

Economic Outlook - New York Fed President John Williams indicated potential for interest rate cuts due to a weakening labor market [1] - Boston Fed President Susan Collins suggested maintaining current interest rates as inflation remains elevated [1] - Dallas Fed President Lorie Logan expressed skepticism about further rate cuts unless inflation decreases more rapidly or the labor market cools significantly [1] Economic Data - U.S. S&P Global manufacturing PMI fell to 51.9 in November, slightly below expectations of 52.0 [1] - S&P Global services PMI unexpectedly rose to 55.0, exceeding expectations of 54.6 [1] - University of Michigan's consumer sentiment index for November was revised to 51.0, stronger than the expected 50.6 [1] Market Performance - Wall Street's major equity averages closed higher, with Ross Stores (ROST) gaining over 8% after positive Q3 results and raised earnings guidance [3] - GlobalFoundries (GFS) and ON Semiconductor (ON) saw gains of over 5% and 4% respectively, while Intuit (INTU) rose more than 4% following strong FQ1 results [3] - Veeva Systems (VEEV) experienced a decline of over 9% after reporting weaker-than-expected Q3 adjusted gross margin [3] Investor Sentiment - Lower bond yields are supporting stock index futures, with expectations for a Fed rate cut in December [4] - U.S. rate futures indicate a 75.5% chance of a 25 basis point rate cut at the December Fed meeting [5] Upcoming Economic Reports - Investors are closely monitoring delayed economic data including September Retail Sales, Producer Price Index, and Durable Goods Orders [6] - Other significant data releases include Consumer Confidence Index, Pending Home Sales, and Initial Jobless Claims [6] Earnings Reports - High-profile companies such as Dell Technologies, HP Inc., and Analog Devices are scheduled to release quarterly results this week [7] Federal Reserve Insights - The Fed's Beige Book survey will provide updates on economic conditions, likely highlighting weaknesses in employment and activity [8]

Group 1 - Wall Street anticipates Zoom Communications Inc (NASDAQ:ZM) to report quarterly earnings of $1.44 per share on revenue of $1.21 billion [2] - Lee Enterprises, Inc. (NYSE:LEE) announced the resignation of CFO Tim Millage, effective February 28, 2026, with shares gaining 1.6% to close at $4.56 [2] - Keysight Technologies Inc (NYSE:KEYS) is expected to post quarterly earnings of $1.83 per share on revenue of $1.38 billion, with shares gaining 1.8% to close at $172.71 [2] - Wrap Technologies Inc (NASDAQ:WRAP) filed for a mixed shelf offering of up to $200 million, with shares gaining 6.6% to close at $2.11 [2] - Agilent Technologies Inc (NYSE:A) is expected to report quarterly earnings of $1.58 per share on revenue of $1.83 billion, with shares gaining 4.3% to close at $151.25 [2]