Agilent Technologies Inc. (NYSE: A) reported its fiscal second-quarter financial results after the markets closed on Monday. The company posted $0.44 in earnings per share (EPS) on $1.02 billion in revenue, which compared to consensus estimates of $0.39 in EPS on revenue of $981.8 million.
The company’s operating margin was 19.4% for the second quarter, up 11% from over a year ago.
During this quarter, revenue of $495 million from Agilent’s Life Sciences and Applied Markets Group (LSAG) increased 5% from the same period last year (up 8% on a core basis), led by strong growth in pharma, food and environmental markets. LSAG’s second-quarter operating margin was 19%.
In terms of guidance, the company expects to have EPS in the range of $0.45 to $0.47 and revenues between $1.03 billion and $1.05 billion. Consensus estimates predict $0.47 in EPS on $1.04 billion in revenue.
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On the books, Agilent’s cash, cash equivalents and short-term restricted cash and cash equivalents totaled $2.14 billion at the end of the quarter, compared to $2.25 billion at the end of the previous fiscal year.
Mike McMullen, president and CEO of Agilent, commented on earnings:
Agilent delivered another strong quarter. Revenue and earnings per share exceeded our guidance range. We saw broad growth across most of our portfolio and end markets. … We continue to execute on our strategy to drive sustainable growth, expand operating margins and provide long-term value to our shareholders.
Shares of Agilent Technologies were traded up 5% at $45.10 early Tuesday, with a consensus analyst price target of $45.86 and a 52-week trading range of $33.12 to $43.20.
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