Agilent Technologies after the close of the market on Monday announced fourth-quarter revenues of $1.85 billion, an increase of 11% compared to $1.66 billion in Q4 2021, beating analysts’ average estimate of $1.76 billion.
For the quarter ended October 31, the Diagnostics and Genomics Group (DGG) generated revenues of $352 million, up 3% year-over-year, while the Agilent Life Sciences and Applied Markets Group (LSAG) posted revenues of $1.12 billion, up 16% year-over-year. Meanwhile, the Agilent CrossLab Group (ACG) posted fourth-quarter revenues of $381 million, an increase of 7% growth year-over-year.
Agilent reported Q4 net income of $368 million, or $1.23 per share, compared to $442 million, or $1.45 per share in the prior-year quarter. Adjusted earnings per share (EPS) was $1.53, surpassing analysts’ average estimate of $1.39.
At the end of the quarter, Agilent had cash and cash equivalents of $1.05 billion.
For fiscal year 2022, the company reported revenues of $6.85 billion, up 9% year-over-year from $6.32 billion.
It reported full-year net income of $1.25 billion, or $4.18 per share, compared to $1.21 billion, or $3.94 per share, in fiscal year 2021.
Full-year 2023 revenues are expected to be $6.90 billion to $7 billion, representing reported growth of 0.8% to 2.2%. Full-year adjusted EPS is expected to be $5.61 to $5.69 per share.
Agilent said revenues for Q1 2023 are expected to be in the range of $1.68 billion to $1.7 billion, representing year-over-year growth of 0.4% to 1.6%. First-quarter adjusted EPS is expected to be $1.29 to $1.31 per share.
