Agilent Technologies (A) Tops Q2 EPS by 14c, Revenues Beat; Raises FY21 EPS/Revenues Guidance Above Consensus, Affirms 3Q EPS/Revenues Outlook

Agilent Technologies (NYSE: A) reported Q2 EPS of $0.97, $0.14 better than the analyst estimate of $0.83. Revenue for the quarter came in at $1.53 billion versus the consensus estimate of $1.4 billion.

Highlights:

• Revenue of $1.525 billion represents an increase of 23% reported growth year-over-year, up 19% on a core(1) basis.
• GAAP net income of $216 million, or 70 cents per share.
• Non-GAAP(2) net income of $299 million, or 97 cents per share.
• Completed the Resolution Bioscience acquisition.

“The Agilent team delivered an exceptional quarter, exceeding our revenue and earnings expectations as our growth momentum continues,” said Mike McMullen, Agilent president and CEO. “Our very strong growth is broad-based across all end-markets, geographies and business groups. These results reflect our relentless customer focus, innovative solutions, and excellent operational execution. Due to our strong-second quarter performance and expected continued momentum, we are raising our revenue and earnings outlook for the full year.

“We also welcomed the Resolution Bioscience team to Agilent in Q2, continuing our investment in high-growth markets as part of our ‘build and buy’ growth strategy.”

GUIDANCE:

Agilent Technologies sees Q3 2021 EPS of $0.97-$0.99, versus the consensus of $0.91. Agilent Technologies sees Q3 2021 revenue of $1.51-1.54 billion, versus the consensus of $1.42 billion.

Agilent Technologies sees FY2021 EPS of $4.09-$4.14, versus the consensus of $3.90. Agilent Technologies sees FY2021 revenue of $6.15-6.21 billion, versus the consensus of $5.94 billion.

For earnings history and earnings-related data on Agilent Technologies (A) click here.

You May Also Be Interested In

• Equifax (EFX) shares tumble on weak Q1 revenue, guidance miss
• Xperi Corporation (XPER) Issues Letter to Stockholders
• Alcoa (AA) Misses Q1 EPS by 19c