Categories AlphaGraphs, Earnings, Technology

Agilent Technologies posts 21% jump in Q4 earnings

Agilent Technologies (A) stock gained over 5% after reporting better-than-expected earnings in the fourth quarter. Net income rose 21% to 81 cents per share, higher than the average analysts’ estimate of 73 cents per share.

On a GAAP basis, net income rose to $195 million, or $0.61 per share, compared to $177 million, or $0.54 per share during the same period last year.

agilent fourth quarter earnings
Courtesy: Agilent

Revenue of the company, which makes analytical instruments, rose 9% to $1.29 billion. Analysts had expected revenue of $1.26 billion during the quarter.

Agilent CEO Mike McMullen said, “Our performance this quarter caps off an excellent 2018 as we achieved our highest annual core growth rate and profitability since becoming a stand-alone life sciences company in 2014.”

Agilent’s biggest unit – Life Sciences and Applied Markets Group – reported Q4 revenue of $597 million, a growth of 8% year-over-year. Growth in the segment was driven by broad-based strength across major end markets, platforms, and regions. The company’s other segments – CrossLab Group and Diagnostics and Genomics Group – each delivered 9% growth during the fourth quarter.

Agilent lifts outlook after upbeat Q3 profit

Looking ahead into the first quarter of 2019, the company expects revenue in the range of $5.13 billion to $5.17 billion, representing growth of 4.4% to 5.2%. Adjusted earnings is guided between $3.00 and $3.05 per share.

For the full year, Agilent projects earnings of $0.71 to $0.73 per share on a revenue of $1.265 billion to $1.280 billion

Agilent stock has had a tough run this year, with share price tumbling 7.5% since the beginning of the year.

 

Follow our Google News edition to get the latest stock market, earnings, and financial news at your fingertips. 

Most Popular

What to look for when CVS Health (CVS) reports Q3 earnings

Healthcare company CVS Health Corporation (NYSE: CVS) is all set to report earnings next week, with Wall Street expecting a mixed outcome. The company has been facing challenges in certain

eBay (EBAY): A few factors that helped drive growth in Q3 2024

Shares of eBay Inc. (NASDAQ: EBAY) stayed green on Friday. The stock has gained 32% year-to-date. The ecommerce leader delivered revenue and earnings growth for the third quarter of 2024,

CVX Earnings: Chevron reports lower revenue and profit for Q3 2024

Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top