Categories AlphaGraphs, Earnings, Health Care
Agilent Technologies stock drops despite beating Q1 estimates
Agilent Technologies (A) stock dropped about 4% in the extended trading hours despite reporting upbeat Q1 results. The muted guidance sent the stock into negative territory. EPS stood at $0.76 on revenue of $1.28 billion. Shares of Agilent hit a new 52-week high ($78.80) in today’s regular trading session.
Analysts had expected the life sciences solutions company to earn $0.73 per share on revenue of $1.27 billion for the recently ended quarter. The Santa Clara, California-based firm had projected Q1 2019 revenue to be in the range of $1.265 billion to $1.280 billion and EPS to be in the range of $0.71 to $0.73.
GAAP EPS for the first quarter was $1.57 compared to a loss of $0.99 per share in the prior-year quarter. Revenue rose 6% and non-GAAP EPS rose 15% versus the year-ago quarter.
For the second quarter of 2019, Agilent projected EPS to be in the range of $0.70 to $0.72 and revenue to be in the range of $1.255 billion to $1.270 billion.
For FY19, the company lifted the outlook. EPS is now expected to be in the range of $3.03 to $3.07 versus the prior estimate of $3.00 to $3.05. Revenue is now expected to be in the range of $5.15 billion to $5.19 billion compared to the prior estimate of $5.13 billion to $5.17 billion.
“We are pleased to start the year with a strong performance driving excellent revenue and EPS growth and exceeding our guidance,” said CEO Mike McMullen.
Revenue from Life Sciences and Applied Markets Group grew 2%, aided by demand in the pharma, environmental and forensics markets. Agilent CrossLab Group revenue grew 8% year-over-year with strong revenue performance from services and consumables. 13% revenue growth in Diagnostics and Genomics Group was led by demand in NASD, low double-digit growth in pathology related businesses and NGS workflow portfolio.
Agilent stock had gained about 16% in the last 90 days and year-to-date periods.
Follow our Google News edition to get the latest stock market, earnings, and financial news at your fingertips
Most Popular
AVGO Earnings: Broadcom reports higher Q4 FY25 revenue, profit; results beat
Semiconductor company Broadcom, Inc. (NASDAQ: AVGO) on Thursday reported an increase in revenue and adjusted earnings for the fourth quarter of fiscal 2025. The numbers also surpassed analysts' expectations. Adjusted
Unicycive is all-in on kidney care, focusing on underserved areas: CEO
Unicycive Therapeutics, Inc. (NASDAQ: UNCY) is a biotech firm engaged in the development of novel treatment options for patients with renal diseases. In an email interview with AlphaStreet, CEO Dr.
Lamb Weston (LW) is set to report Q2 2026 earnings next week, here’s what to look for
Shares of Lamb Weston Holdings, Inc. (NYSE: LW) rose over 1% on Thursday. The stock has gained 4% over the past three months. The French fry giant is slated to
