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Agilent (A) Surpasses Earnings and Revenue Estimates in Q4
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Agilent Technologies’ (A - Free Report) fiscal fourth-quarter 2018 earnings of 81 cents per share surpassed the Zacks Consensus Estimate by 8 cents. Earnings also increased 20.9% year over year.
Moreover, the company’s fiscal fourth-quarter 2018 revenues of $1.29 billion increased 8.8% year over year. Revenues were ahead of management’s guided range of $1.24-$1.26 billion and also outpaced the Zacks Consensus Estimate of $1.256 billion.
The year-over-year revenue growth was supported by notable improvement across all its product lines and regions.
Coming to share price performance, the stock has lost 3% on a year-to-date basis compared with the industry’s decline of 3.1%.
Revenues by Segment
Agilent has three reporting segments — Life Sciences & Applied Markets Group (LSAG), Agilent Cross Lab Group (ACG), and Diagnostics and Genomics Group (DGG).
In the reported quarter, LSAG was the largest contributor and accounted for $597 million or 46% of the total revenues, reflecting an increase of 8% from the prior-year quarter. This was driven by strength across all major end markets, platforms and regions.
Revenues from ACG came in at $441 million or 34% of its total revenues, reflecting an increase of 9% year over year. Both services and consumables witnessed growth across all geographical regions.
Revenues from DGG came in at $256 million, accounting for the remaining 20% of the total revenues. The segment was up 9% from the year-ago quarter, led by growth in pharma along with strength in genomics and NASD products.
Operating Results
Gross margin in the quarter was 57.8%, up 170 basis points (bps) year over year. The increase was due to higher revenues and a favorable product mix.
Operating expenses (research &development as well as selling, general & administrative expenses) were $460 million, 11.1% higher than the year-ago quarter.
As a result, adjusted operating margin was 25.2%, up 190 bps year over year.
Balance Sheet
At the end of the fiscal fourth quarter, inventories totaled $638 million, reflecting an increase from $623 million in the prior-year quarter. Agilent’s long-term debt was $1.8 billion at the end of the quarter. Cash and cash equivalents were $2.2 billion compared with $2.1 billion in fiscal third-quarter 2018.
In the reported quarter, the company paid $47 million in dividends. In addition, Agilent approved a new share repurchase program of up to $1.75 billion, which will commence on Nov 21, 2018, replacing the previous program.
Guidance
Agilent provided guidance for fiscal first-quarter and full fiscal 2019.
The company expects revenues between $1.265 billion and $1.280 billion, and earnings per share in the range of 71-73 cents for the fiscal first quarter. The Zacks Consensus Estimate is pegged at $1.28 billion for revenues and 73 cents for earnings per share.
For fiscal 2019, Agilent projects revenues in the range of $5.13-$5.17 billion and earnings per share within $3-$3.05.
The Zacks Consensus Estimate for earnings stands at $2.97 per share and that of revenues is $5.19 billion.
Agilent Technologies, Inc. Price, Consensus and EPS Surprise
Long-term earnings growth rate for boohoo group, QuinStreet and AMETEK is currently pegged at 25%, 25% and 11.18%, respectively.
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Agilent (A) Surpasses Earnings and Revenue Estimates in Q4
Agilent Technologies’ (A - Free Report) fiscal fourth-quarter 2018 earnings of 81 cents per share surpassed the Zacks Consensus Estimate by 8 cents. Earnings also increased 20.9% year over year.
Moreover, the company’s fiscal fourth-quarter 2018 revenues of $1.29 billion increased 8.8% year over year. Revenues were ahead of management’s guided range of $1.24-$1.26 billion and also outpaced the Zacks Consensus Estimate of $1.256 billion.
The year-over-year revenue growth was supported by notable improvement across all its product lines and regions.
Coming to share price performance, the stock has lost 3% on a year-to-date basis compared with the industry’s decline of 3.1%.
Revenues by Segment
Agilent has three reporting segments — Life Sciences & Applied Markets Group (LSAG), Agilent Cross Lab Group (ACG), and Diagnostics and Genomics Group (DGG).
In the reported quarter, LSAG was the largest contributor and accounted for $597 million or 46% of the total revenues, reflecting an increase of 8% from the prior-year quarter. This was driven by strength across all major end markets, platforms and regions.
Revenues from ACG came in at $441 million or 34% of its total revenues, reflecting an increase of 9% year over year. Both services and consumables witnessed growth across all geographical regions.
Revenues from DGG came in at $256 million, accounting for the remaining 20% of the total revenues. The segment was up 9% from the year-ago quarter, led by growth in pharma along with strength in genomics and NASD products.
Operating Results
Gross margin in the quarter was 57.8%, up 170 basis points (bps) year over year. The increase was due to higher revenues and a favorable product mix.
Operating expenses (research &development as well as selling, general & administrative expenses) were $460 million, 11.1% higher than the year-ago quarter.
As a result, adjusted operating margin was 25.2%, up 190 bps year over year.
Balance Sheet
At the end of the fiscal fourth quarter, inventories totaled $638 million, reflecting an increase from $623 million in the prior-year quarter. Agilent’s long-term debt was $1.8 billion at the end of the quarter. Cash and cash equivalents were $2.2 billion compared with $2.1 billion in fiscal third-quarter 2018.
In the reported quarter, the company paid $47 million in dividends. In addition, Agilent approved a new share repurchase program of up to $1.75 billion, which will commence on Nov 21, 2018, replacing the previous program.
Guidance
Agilent provided guidance for fiscal first-quarter and full fiscal 2019.
The company expects revenues between $1.265 billion and $1.280 billion, and earnings per share in the range of 71-73 cents for the fiscal first quarter. The Zacks Consensus Estimate is pegged at $1.28 billion for revenues and 73 cents for earnings per share.
For fiscal 2019, Agilent projects revenues in the range of $5.13-$5.17 billion and earnings per share within $3-$3.05.
The Zacks Consensus Estimate for earnings stands at $2.97 per share and that of revenues is $5.19 billion.
Agilent Technologies, Inc. Price, Consensus and EPS Surprise
Agilent Technologies, Inc. Price, Consensus and EPS Surprise | Agilent Technologies, Inc. Quote
Zacks Rank and Other Stocks to Consider
Currently, Agilent has a Zacks Rank #2 (Buy). Other top-ranked stocks in the broader technology sector include boohoo group plc (BHOOY - Free Report) , QuinStreet, Inc. (QNST - Free Report) and AMETEK, Inc. (AME - Free Report) , each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term earnings growth rate for boohoo group, QuinStreet and AMETEK is currently pegged at 25%, 25% and 11.18%, respectively.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
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