Full-year outlook revised to reflect slower market recovery
Announces plan to repurchase $0.75 billion of its common stock by end of fiscal year
Board of directors authorizes new $2.0 billion share repurchase program

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Highlights

  • Revenue of $1.57 billion, down 8.4% reported and 7.4% core(1)from the second quarter of 2023.
  • GAAP net income of $308 million!earnings per share (EPS) of $1.05, up 3% from the second quarter of 2023.
  • Non-GAAP(2)net income of $356 million!EPS of $1.22, down 4% from the second quarter of 2023.
  • Full-year revenue outlook 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(1).Fiscal year 2024 non-GAAP(3)earnings guidance also revised at a range of $5.15 to $5.25 per share.
  • Third-quarter revenue outlook expected at $1.535 billion to $1.575 billion with non-GAAP(3)EPS of $1.25 to $1.28.
  • 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.

必威体育登录手机Agilent Technologies Inc.(NYSE: A) today reported revenue of $1.57 billion for the second quarter ended April 30, 2024, a decline of 8.4% reported and 7.4% core(1)compared to the second quarter of 2023.

Second-quarter GAAP net income was $308 million, or $1.05 per share.This compares with $302 million, or $1.02 per share, in the second quarter of fiscal year 2023.Non-GAAP(2)net income was $356 million, or $1.22 per share during the quarter, compared with $377 million or $1.27 per share during the second quarter a year ago.

"In Q2, we delivered on our expectations and showed the resiliency of our diversified business.必威体育登录手机While we see the market improving, it is improving at a slower pace than anticipated," said Padraig McDonnell, Agilent president and CEO."We are taking decisive action to streamline our cost structure and capture incremental opportunities in the markets as they recover.必威体育登录手机I'm confident about the future and extremely excited about the opportunities that lie ahead for Agilent."

Financial Highlights

必威体育登录手机In the first quarter of 2024, Agilent implemented certain changes to its segment reporting structure.Prior period segment information has been recast to reflect these changes.必威体育登录手机These changes have no impact on Agilent's consolidated financial statements.

Life Sciences and Applied Markets Group
必威体育登录手机Agilent's Life Sciences and Applied Markets Group (LSAG) reported second-quarter revenue of $754 million, a decline of 14% reported and 13% core(1)year-over-year.LSAG's operating margin for the quarter was 24.7%.

必威体育登录手机Agilent CrossLab Group
必威体育登录手机The Agilent CrossLab Group (ACG) reported second-quarter revenue of $402 million, an increase of 4% reported and 5% core(1)year-over-year.ACG's operating margin for the quarter was 30.5%.

Diagnostics and Genomics Group
The Diagnostics and Genomics Group (DGG) reported second-quarter revenue of $417 million, a decrease of 9% reported and 8% core(1)year-over-year.DGG's operating margin for the quarter was 20.5%.

Full Year 2024 andThird-QuarterOutlook

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(1).Fiscal year 2024 non-GAAP(3)earnings guidance is revised at a range of $5.15 to $5.25 per share.

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(1).Third-quarter non-GAAP(3)earnings guidance is expected in the range of $1.25 to $1.28 per share.

The outlook is based on forecasted currency exchange rates.

Conference Call

必威体育登录手机Agilent's management will present additional details regarding the company's second-quarter 2024 financial results on a conference call with investors today at 1:30 p.m.PDT.This event will be broadcast live online in listen-only mode.必威体育登录手机To listen to the webcast, select the "Q2 2024 Agilent Technologies Inc.Earnings Conference Call" link on the必威体育登录手机Agilent Investor Relations website.The webcast will remain on the company site for 90 days.