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Agilent Technologies Earnings: A Stock Sinks on Q2 EPS, Sales Miss

Revenue did increase 3% year-over-year

Agilent Technologies (NYSE:A) unveiled its latest quarterly earnings results late on Tuesday, bringing in earnings that tallied in below what the Wall Street consensus estimate called for, while revenue also missed the mark, sending A stock sinking after hours today.

Agilent Technologies Earnings
Source: Shutterstock

The Santa Clara, Calif.-based lab equipment maker announced that for its second quarter of the current fiscal year, it brought in revenue of $1.24 billion, surging from the $1.21 billion it posted during the same period a year ago. However, the figure was down when compared to the Wall Street consensus estimate of $1.27 billion.

Agilent Technologies added that its core revenues increased roughly 4% year-over-year during the three-month period. Revenue for its diagnostics and genomics group gained 5% to $254 million from $243 million during the year-ago quarter, due in large part to the strength in the business’ pathology-related business and nucleic acids solutions division.

Its life sciences and applied markets group brought in revenue of $529 million, sliding 1% year-over-year from $537 million. Agilent Technologies added that its net income during the period was $182 million, or 57 cents per share, sliding from the $205 million, or 63 cents per share, from the year-ago quarter.

The company also posted adjusted earnings of 71 cents per share, below the Wall Street consensus estimate of 72 cents per share.

A stock is plummeting about 8.9% after the bell Tuesday following the company’s quarterly earnings results. Shares had been gaining about 2.9% during regular trading hours for Agilent Technologies in anticipation of its results.


Article printed from InvestorPlace Media, https://investorplace.com/2019/05/agilent-technologies-earnings-a-stock/.

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