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

Context Therapeutics: Another clinical-stage oncology research firm to go public soon

The US primary markets seem to be having a record-breaking start to the year, with over $171 billion raised in the first half of 2021 compared to $168 billion for

Biogen (BIIB) Stock: Does FDA nod for Aduhelm offer a buying opportunity?

The pharmaceutical industry has been witnessing hectic activity for some time, with most drug makers either channelizing their resources for vaccine development or engaging in COVID care programs. Biotechnology giant

IPO News: Monte Rosa Therapeutics will go public this week, here are a few things to know

Biotechnology company Monte Rosa Therapeutics is slated to go public this week. In a pandemic-ridden world, this industry is expanding at a healthy pace. The global biotechnology market is estimated

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