Agilent stock rallies after quarterly beat, outlook

Agilent Technologies Inc. shares rallied more than 4% after-hours Monday after the life-sciences electronics maker beat Wall Street expectations. Agilent earned $368 million, or $1.23 a share, compared with $442 million, or $1.45 a share, in the year-ago quarter. Adjusted for one-time items, Agilent earned $1.53 a share. Revenue rose 11% to $1.85 billion, the company said. Analysts polled by FactSet expected adjusted EPS of $1.38 on sales of $1.76 billion. Agilent guided for full-year revenue between $6.90 billion and $7 billion, which would represent growth of 0.8% to 2.2%, and a full-year adjusted EPS in a range between $5.61 and $5.69. First-quarter revenue was seen between $1.68 billion and $1.70 billion, and first-quarter adjusted EPS between $1.29 and $1.31 a share, with the top within analyst expectations. “The Agilent team delivered double-digit core revenue growth in each of our business groups in FY 2022,” Chief Executive Mike McMullen said in a statement. “Our track record of strong execution and broad-based strength across our portfolio sets us up well as we look forward to a new fiscal year.” Shares of Agilent ended the regular trading day down 0.7%.

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