Agilent Technologies Earnings: A Stock Dips 2% Despite Beating Q3 Estimates

Agilent Technologies (NYSE:A) earnings for the research and development company’s fiscal third quarter of 2020 have A stock dipping lower after-hours Tuesday. That’s despite its adjusted earnings per share of 78 cents beating Wall Street’s estimate of 66 cents. Its revenue of $1.26 billion also comes in above analysts’ estimates of $1.21 billion.

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Here’s what else is worth mentioning from the most recent Agilent earnings report.

  • Adjusted per-share earnings are up 2.6% compared to 76 cents from the same time last year.
  • Revenue for the quarter comes in 1% lower than the $1.27 billion reported in fiscal Q3 2019.
  • Operating income of $230 million is a 2.2% increase year-over-year from $225 million.
  • The Agilent Technologies earnings report also has net income coming in at $199 million.
  • That’s a 4.2% jump from the company’s net income of $191 million in the same period of the year prior.

Mike McMullen, president and CEO of Agilent Technologies , sais this in the earnings report.

“Agilent’s third quarter results once again highlight the strength and resilience of the Agilent team and of our business. Under challenging conditions created by the global COVID-19 pandemic, Agilent again delivered strong results. While the world’s economies are expected to recover at different rates in the fourth quarter, we remain focused on growth and investing for the future, while effectively managing expenses.”

Agilent Technologies doesn’t discuss specific guidance details in its current earnings report. That’s likely due to the novel coronavirus. Many companies are withholding outlooks at this time.

A stock was down 1.8% after markets closed on Tuesday.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/08/agilent-technologies-earnings-drop-a-stock/.

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