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Agilent Stock Surges on Q4 Earnings Beat

Agilent stock (NYSE:A) was surging more than 3.8% after the bell on Monday as the company reported its latest quarterly earnings results, which were stronger than what analysts were calling for.

Agilent Stock
Source: Apple

The manufacturing company said that for its fourth quarter of fiscal 2018, it brought in net income of 81 cents per share, which marked a 21% increase compared to what the company amassed during the year-ago quarter. The figure was also stronger than the Wall Street consensus estimate of 73 cents per share.

On a GAAP basis, Agilent said that its net income came in at $195 million, or 61 cents per share, topping the $177 million, or 54 cents per share from the year-ago quarter. The company added that its revenue during the period was 9% higher than during the year-ago quarter, reaching $1.29 billion.

Analysts were calling for the company to bring in sales of $1.26 billion during the period. “Our performance this quarter caps off an excellent 2018 as we achieved our highest annual core growth rate and profitability since becoming a stand-alone life sciences company in 2014,” said Agilent CEO Mike McMullen.

For its first quarter of fiscal 2018, the company is calling for revenue in the range of $5.13 billion to $5.17 billion, while adjusted earnings are slated to be between $3 and $3.05 per share. For the fiscal year, Agilent calls for earnings of 71 to 73 cents per share, while revenue is slated to be between $1.265 billion and $1.280 billion.

Agilent stock was surging more than 3.8% after the bell on Monday following the company’s quarterly earnings results, which came in well ahead of what analysts were calling for. Shares had been sliding about 3.7% during regular trading hours in anticipation of the company’s quarterly results.

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