Agilent Reports Second-Quarter Fiscal Year 2024 Financial Result

5月30日Agilent Technologies Inc. (NYSE:A) reported a revenue of $1.57 billion for the second quarter of fiscal year 2024, down 8.4% reported and 7.4% core compared to the second quarter of 2023. GAAP net income was $308 million, with earnings per share (EPS) of $1.05, up 3% from the second quarter of 2023. Non-GAAP(2) net income was $356 million, with EPS of $1.22, down 4% from the second quarter of 2023. The full-year revenue outlook was revised at $6.420 billion to $6.500 billion, representing a range of down 6.0% to 4.9% on a reported basis and down 5.4% to 4.3% core. Fiscal year 2024 non-GAAP(3) earnings guidance was revised at a range of $5.15 to $5.25 per share.

The company plans to repurchase $0.75 billion of its common stock by the end of the fiscal year, and the board recently authorized a new $2.0 billion share repurchase program. The company's president and CEO, Padraig McDonnell, expressed confidence in the future and excited about the opportunities that lie ahead for Agilent.

In the first quarter of 2024, Agilent (NYSE:A) implemented certain changes to its segment reporting structure, which have no impact on its consolidated financial statements. The Life Sciences and Applied Markets Group reported second-quarter revenue of $754 million, a decline of 14% reported and 13% core year-over-year. The Agilent CrossLab Group (NYSE:A) reported second-quarter revenue of $402 million, an increase of 4% reported and 5% core year-over-year. The Diagnostics and Genomics Group reported second-quarter revenue of $417 million, a decrease of 9% reported and 8% core year-over-year.

The full-year revenue outlook is revised at $6.420 billion to $6.500 billion, representing a range of down 6.0% to 4.9% on a reported basis and down 5.4% to 4.3% core. The outlook for third-quarter revenue is expected in the range of $1.535 billion to $1.575 billion, a decline of 8.2% to 5.8% reported and 6.9% to 4.5% core.

Technical Outlook
Agilent (A) stock is down 18.36% in pre-market trading on Thursday starting on a rough slate it technically means Agilent stock is in a oversold region forming a downside gap. Gapping occurs in trading when there is no trading activities that occur but a stock is under-performing or outperforming prior to a fundamental.