Categories Earnings, Other Industries

Earnings Preview: Agilent likely to exceed consensus in Q3

Agilent Technologies (A) is scheduled to report third-quarter earnings on Tuesday after the market close. The CrossLab Group will remain the focus for this quarter too. On an average, analysts see earnings of $0.63 per share, while the top-line is estimated to grow 7.4% to $1.2 billion.

In the second-quarter, Agilent had posted a 25% jump in earnings as the Pharma and Chemical & Energy markets drove the top-line higher. Revenue increased 9% on strong performance across the company’s business segments.

Meanwhile, revenue from CrossLab Group grew 13% helped by strong growth across services and consumables. Revenue for the Diagnostics and Genomics Group (DGG) increased 9% helped by the strength in genomics, and revenue from Life Sciences & Applied Markets Group (LSAG) rose 7% on the strong performance of the spectrometry and cell analysis businesses.

Agilent is expected to have a high growth potential in the near future as the broad-based portfolio and expanded segments remain a valuable asset for the company. Agilent’s decision to divest or close down its underperforming segments is adding to its growth prospects.

The company also has the ability to find attractive growth options and new product launches. From the sell-side analysts’ view, more than 75% have suggested a “strong buy” or “buy” rating on the stock with an average price target of $77.36.

Shares of the scientific instrument maker have fallen more than 1% year-to-date, while it has risen by more than 10% for the past year.

Most Popular

United Parcel Service (UPS) seems on track to regain lost strength

Cargo giant United Parcel Service, Inc. (NYSE: UPS) ended fiscal 2023 on a weak note, reporting lower revenues and profit for the fourth quarter. The company experienced a slowdown post-pandemic

IPO Alert: What to look for when Boundless Bio goes public

Boundless Bio is preparing to debut on the Nasdaq stock market this week, and become the latest addition to the list of biotech firms that have launched IPOs this year.

Nike (NKE) bets on innovation and partnerships to return to high growth

Sneaker giant Nike, Inc. (NYSE: NKE) has been going through a rough patch for some time, with sales coming under pressure from weak demand and rising competition. Post-pandemic, the company

Tags

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