Agilent Technologies(A) - 2025 Q1 - Quarterly Results

Revenue Performance - Revenue for Q1 fiscal year 2025 was $1.68 billion, representing a growth of 1.4% reported and 1.2% core compared to Q1 2024[3]. - Full-year revenue outlook for 2025 is projected to be between$ 6.68 billion and $6.76 billion, indicating growth of 2.6% to 3.8% reported and 2.5% to 3.5% core[3][6]. - Q2 revenue outlook is expected to be between$ 1.61 billion and $1.65 billion, representing growth of 2.4% to 4.9% reported and 2.5% to 5.0% core[6]. - Total revenue for Q1 2025 was$ 1,681 million, representing a year-over-year increase of 1% from $1,658 million in Q1 2024[39]. - Life Sciences and Diagnostics Markets Group reported Q1 revenue of$ 647 million, an increase of 4% reported and 1% core year-over-year[5]. - Agilent CrossLab Group reported Q1 revenue of $696 million, an increase of 1% reported and 3% core year-over-year[5]. - Applied Markets Group reported Q1 revenue of$ 338 million, a decrease of 4% reported and 2% core year-over-year[6]. - Life Sciences and Diagnostics Markets Segment revenue increased by 4% year-over-year, reaching $647 million in Q1 2025[39]. - Agilent CrossLab Segment revenue grew by 1% year-over-year to$ 696 million, while Applied Markets Segment revenue decreased by 4% to $338 million[39]. Profitability Metrics - GAAP net income for Q1 was$ 318 million, or $1.11 per share, down 6% from Q1 2024; Non-GAAP net income was$ 377 million, or $1.31 per share, up 2% from the previous year[3]. - GAAP net income for the three months ended January 31, 2025, was$ 318 million, a decrease of 8.6% from $348 million in the same period of 2024[21]. - Non-GAAP net income for the same period was$ 377 million, compared to $380 million in the prior year, reflecting a slight decrease of 0.8%[21]. Cash Flow and Financial Position - Cash flows from operating activities for Q1 2025 were$ 431 million, down from $485 million in Q1 2024, a decline of 11.1%[20]. - Cash, cash equivalents, and restricted cash at the end of the period totaled$ 1,470 million, down from $1,750 million a year earlier[20]. Margins - Operating margin for Life Sciences and Diagnostics Markets Group was 18.1% in Q1[5]. - Operating margin for Agilent CrossLab Group was 31.8% in Q1[5]. - The company reported a gross margin of 52.8% in the Life Sciences and Diagnostics Markets Segment, down from 54.9% in the prior year[33]. - Operating margin for the Agilent CrossLab Segment was 31.8%, a decrease from 32.4% in Q1 2024[34]. Strategic Initiatives - The company is executing its market-first strategy and seeing early benefits from its Ignite Transformation initiative[3]. - The company incurred$ 14 million in pension settlement loss due to the transfer of a defined benefit plan to an unaffiliated insurance company[26].