Agilent Technologies Reports Solid Q4 and FY2024 Results

Agilent Technologies ( (A) ) has released its Q4 earnings. Here is a breakdown of the information Agilent Technologies presented to its investors.

Agilent Technologies Inc. is a global leader in analytical and clinical laboratory technologies, providing a comprehensive range of instruments, software, and services to support scientific research and innovation across various industries.

Agilent Technologies has reported its financial results for the fourth quarter of fiscal year 2024, achieving a revenue of $1.70 billion, marking a slight increase from the previous year. The company also provided guidance for fiscal year 2025, showcasing expected growth in revenue and non-GAAP earnings.

Key financial highlights include a GAAP net income of $351 million, translating to earnings per share of $1.22, which represents a 25% decrease compared to the same period last year. Conversely, non-GAAP net income increased by 6% to $418 million, with earnings per share rising to $1.46. Additionally, Agilent’s CrossLab Group reported a notable revenue increase of 5% year-over-year, while the Life Sciences and Applied Markets Group and Diagnostics and Genomics Group experienced slight declines.

For the entire fiscal year 2024, Agilent recorded a revenue of $6.51 billion, reflecting a 4.7% decline from the previous year. The company’s full-year GAAP net income rose by 6% to $1.289 billion, whereas non-GAAP net income saw a slight decrease. Looking ahead, Agilent anticipates fiscal year 2025 revenue to grow by up to 5.5% on a reported basis, with non-GAAP earnings projected between $5.54 to $5.61 per share.

Agilent’s management remains optimistic about the future, emphasizing the adoption of a customer-first strategy and a new organizational structure to capitalize on market opportunities. This strategic transformation aims to enhance the company’s ability to deliver value and drive growth in the evolving global market.