NEW YORK – Agilent Technologies said after the close of the market on Monday that its fiscal fourth quarter revenues grew 11 percent year over year and beat the consensus Wall Street estimate.
For the three months ended Oct. 31, Agilent's Q4 revenues rose to $1.85 billion from $1.66 billion a year ago. Analysts' average estimate was $1.76 billion. By segment, the Life Sciences and Applied Markets group's revenues increased 16 percent year over year, or 22 percent on a core basis, to $1.12 billion in the recently completed quarter, while the Agilent CrossLab group's revenues were up 7 percent, or 14 percent on a core basis, to $381 million. The Diagnostics and Genomics group's revenues grew 3 percent, or 8 percent on a core basis, to $352 million, the Santa Clara, California-based company said.
Agilent finished the quarter with a net profit of $368 million, or $1.23 per share, compared to a net profit of $442 million, or $1.45 per share, a year ago. On a non-GAAP basis, the firm had EPS of $1.53 for Q4 2022 and beat the consensus Wall Street estimate of $1.39.
For full fiscal year 2022, Agilent reported revenues of $6.85 billion, up 8 percent from $6.32 billion in 2021 and beating analysts' average estimate of $6.76 billion.
The Life Sciences and Applied Markets group posted $4.01 billion in revenues for the year, a 9 percent increase, or 13 percent increase on a core basis, year over year. The Agilent CrossLab group's revenues of $1.45 billion were up 7 percent from a year ago, or 11 percent on a core basis, and the Diagnostics and Genomics group's revenues rose 7 percent, or 10 percent on a core basis, to $1.39 billion.
The company had a net profit of $1.25 billion, or $4.18 per share, for 2022 compared to a net profit of $1.21 billion, or $3.94 per share, in 2021. Its non-GAAP EPS was $5.22 and beat the consensus Wall Street estimate of $5.01 per share.
Agilent ended its fiscal year 2022 with $1.05 billion in cash and cash equivalents.
For the first quarter of fiscal year 2023, the firm expects revenues of $1.68 billion to $1.70 billion. Non-GAAP EPS is expected to be in the range of $1.29 to $1.31.
Full-year fiscal 2023 revenues are anticipated to be between $6.90 billion and $7.00 billion, with EPS expected to be in the range of $5.61 to $5.69.