It has been about a month since the last earnings report for Agilent Technologies (A Quick QuoteA - Free Report) . Shares have lost about 2.5% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is Agilent due for a breakout? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent catalysts for Agilent Technologies, Inc. before we dive into how investors and analysts have reacted as of late.

Agilent Q3 Earnings Beat Estimates, Revenues Up Y/Y

Agilent Technologies reported third-quarter fiscal 2025 earnings of $1.37 per share, which beat the Zacks Consensus Estimate by 0.74%. The figure increased 3.8% year over year. 

Revenues of $1.74 billion surpassed the Zacks Consensus Estimate by 4.6%. The top line increased 10.1% on a reported basis and 8% on a core basis (excluding acquisitions and divestitures) year over year.

Agilent’s Q3 Top-Line Details

The company operates through three reporting segments—Life Sciences and Diagnostics Markets Group (“LDG”), Agilent CrossLab Group (“ACG”) and Applied Markets Group (“AMG”).

LDG: The segment generated $670 million and accounted for 38.6% of the company’s total revenues. This represented a 14.5% increase on a reported basis and 9% rise on a core basis year over year. 

ACG: Revenues from the segment were $744 million, accounting for 42.8% of the total revenues. The top line grew 7.7% on a reported basis and 8% on a core basis year over year.

AMG: Revenues increased 7.3% year over year to $324 million on a reported and 7% on a core basis, accounting for the remaining 18.6% of the total revenues.

Agilent’s Q3 Operating Results

For the third quarter of fiscal 2025, the LDG segment’s gross margin contracted 390 basis points (bps) year over year to 50.5%. ACG’s gross margin decreased 260 bps year over year to 55.1%, while AMG’s gross margin declined 160 bps year over year to 53.6%.

As a percentage of revenues, Research and development expenses fell 50 bps year over year to 6.3%, while selling, general and administrative expenses fell 30 bps year over year to 21.6%.

The non-GAAP operating margin of 25.1% for the fiscal third quarter contracted 220 bps on a year-over-year basis.

Segment-wise, LDG operating margin decreased 190 bps year over year to 17.6%. ACG’s operating margin fell 260 bps year over year to 33.3%. Meanwhile, AMG’s operating margin contracted 130 bps year over year to 21.9%.

A’s Balance Sheet Details

As of July 31, 2025, Agilent’s cash and cash equivalents were $1.54 billion, up from $1.49 billion as of April 30.

The long-term debt was $3.35 billion as of July 31, 2025, unchanged sequentially.

Agilent’s Q4 & FY25 Guidance

For the fourth quarter of fiscal 2025, Agilent expects revenues of $1.822-$1.842 billion, indicating a rise of 7.1% to 8.3% on a reported basis and 4.8% to 6% on a core basis. Non-GAAP earnings are expected between $1.57 per share and $1.60 per share. 

For fiscal 2025, Agilent expects revenues between $6.91 billion and $6.93 billion, implying an increase of 6.2-6.5% on a reported basis and 4.3-4.6% on a core basis. The company expects non-GAAP earnings between $5.56 per share and $5.59 per share.

How Have Estimates Been Moving Since Then?

In the past month, investors have witnessed a downward trend in estimates review.

VGM Scores

Currently, Agilent has a subpar Growth Score of D, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a grade of C on the value side, putting it in the middle 20% for value investors.

Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. It's no surprise Agilent has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.

Performance of an Industry Player

Agilent is part of the Zacks Medical - Products industry. Over the past month, Medtronic (MDT Quick QuoteMDT - Free Report) , a stock from the same industry, has gained 2.5%. The company reported its results for the quarter ended July 2025 more than a month ago.

Medtronic reported revenues of $8.58 billion in the last reported quarter, representing a year-over-year change of +8.4%. EPS of $1.26 for the same period compares with $1.23 a year ago.

For the current quarter, Medtronic is expected to post earnings of $1.31 per share, indicating a change of +4% from the year-ago quarter. The Zacks Consensus Estimate has changed -0.1% over the last 30 days.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Medtronic. Also, the stock has a VGM Score of B.