Keysight Technologies (KEYS) Tops Q2 EPS by 10c, Revenues Beat; Offers 3Q EPS/Revenues Guidance Above Consensus

May 19, 2021 4:07 PM EDT

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Keysight Technologies (NYSE: KEYS) reported Q2 EPS of $1.44, $0.10 better than the analyst estimate of $1.34. Revenue for the quarter came in at $1.22 billion versus the consensus estimate of $1.21 billion.

Second Quarter Financial Summary

  • Orders grew 22 percent to reach $1.33 billion, compared with $1.09 billion last year.
  • Revenue grew 36 percent to reach $1.22 billion, compared with $895 million last year, or 33 percent on a core basis, which excludes the impact of foreign currency changes and revenue associated with businesses acquired or divested within the last twelve months.
  • GAAP net income was $186 million, or $0.99 per share, compared with $71 million, or $0.37 per share, in the second quarter of 2020.
  • Non-GAAP net income was $270 million, or $1.44 per share, compared with $148 million, or $0.78 per share in the second quarter of 2020.
  • Cash flow from operations was $402 million, compared with $298 million last year. Free cash flow was $369 million, compared with $275 million in the second quarter of 2020.

“Keysight delivered an exceptional quarter and achieved all-time record orders, revenue, and free cash flow. Our second quarter results are indicative of our leadership position across a diverse set of markets,” said Ron Nersesian, Keysight’s Chairman, President and CEO. “As an enabler of leading-edge disruptive innovation, Keysight is well-positioned to capitalize on multiple waves of technology that are fueling our growth for the long term.”

GUIDANCE:

Keysight Technologies sees Q3 2021 EPS of $1.39-$1.45, versus the consensus of $1.38. Keysight Technologies sees Q3 2021 revenue of $1.205-1.225 billion, versus the consensus of $1.2 billion.

Keysight’s third fiscal quarter of 2021 revenue is expected to be in the range of $1.205 billion to $1.225 billion. Non-GAAP earnings per share for the third fiscal quarter of 2021 are expected to be in the range of $1.39 to $1.45, which exclude items that pertain to future events and are not currently estimable with a reasonable degree of accuracy.

For earnings history and earnings-related data on Keysight Technologies (KEYS) click here.



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