Agilent Technologies(A) - 2026 Q1 - Quarterly Results

Financial Performance - Agilent reported revenue of $1.80 billion for Q1 FY2026, representing a 7.0% increase year-over-year and a 4.4% increase on a core basis[3]. - GAAP net income for Q1 FY2026 was $305 million, or $1.07 per share, a decline of 4% from the same quarter in 2025[4]. - Non-GAAP net income for Q1 FY2026 was $386 million, with a non-GAAP EPS of $1.36, reflecting a 4% growth compared to Q1 FY2025[4]. - Total revenue for Agilent in Q1 2026 was $1,798 million, a year-over-year increase of 7% from $1,681 million in Q1 2025[41]. - Net income for the three months ended January 31, 2026, was $305 million, a decrease of 4.1% from $318 million in the same period of 2025[22]. - Non-GAAP net income for Q1 2026 was $386 million, representing an increase of 2.4% compared to $377 million in Q1 2025[23]. Revenue Outlook - The revenue outlook for FY2026 is projected to be between $7.3 billion and $7.5 billion, indicating a growth of 5.5% to 7.5% reported and 4% to 6% core[4]. - Q2 FY2026 revenue guidance is expected to be between $1.79 billion and $1.82 billion, representing growth of approximately 7% to 9% reported and 4% to 5.5% core[7]. Segment Performance - The Life Sciences and Diagnostics Markets Group reported Q1 revenue of $679 million, a 5% increase reported and 3% core year-over-year[6]. - The Agilent CrossLab Group reported Q1 revenue of $758 million, a 9% increase reported and 6% core year-over-year[6]. - The Applied Markets Group reported Q1 revenue of $361 million, a 7% increase reported and 4% core year-over-year[7]. - The Life Sciences and Diagnostics Markets Segment reported revenue of $679 million, up 5% from $647 million in Q1 2025[41]. - The Agilent CrossLab Segment achieved revenue of $758 million, reflecting a 9% increase from $696 million in the prior year[41]. - The Applied Markets Segment generated revenue of $361 million, a 7% increase compared to $338 million in Q1 2025[41]. Cash Flow and Assets - Cash flows from operating activities for Q1 2026 were $268 million, down from $431 million in Q1 2025[22]. - Cash, cash equivalents, and restricted cash at the end of the period totaled $1,760 million, an increase from $1,470 million at the end of Q1 2025[22]. - Agilent's total assets as of January 31, 2026, were $12.813 billion, an increase from $12.727 billion as of October 31, 2025[20]. Costs and Tax Rate - The company incurred $20 million in restructuring and related costs during Q1 2026, compared to $1 million in the same period last year[23]. - The effective non-GAAP tax rate for Q1 2026 was 14.50%, up from 12.50% in Q1 2025[23].