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.
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.