Agilent Technologies, Inc. A stock is trading higher in Monday's after-hours session after the company reported better-than-expected fourth-quarter financial results. Here's a look at what's moving the stock.
What To Know: Agilent Technologies reported quarterly earnings of $1.38 per share, surpassing the analyst consensus estimate of $1.35. The figure marks a 9.8% decrease over earnings of $1.53 per share from the same period last year.
The company reported quarterly sales of $1.69 billion which beat analyst expectations of $1.68 billion, a 8.71% decrease over sales of $1.85 billion the same period last year.
Agilent also detailed the financial highlights from its business segments, including its Life Sciences and Applied Markets Group (LSAG) which reported fourth-quarter revenue of $928 million, with an operating margin of 28.1%.
The company anticipates first-quarter earnings to be between $1.20 and $1.23 per share, versus the $1.32 estimate. Revenue is estimated to be between $1.555 billion and $1.605 billion, versus estimates of $1.67 billion.
Full-year 2024 earnings are expected to be between $5.44 and $5.55 per share, versus the $5.61 estimate. The company sees full-year revenue between $6.71 billion and $6.81 billion, versus the $6.98 billion estimate.
"The Agilent team continued its strong execution in Q4 and delivered leveraged earnings in 2023 during a challenging year for the industry," said President and CEO Mike McMullen. "As we look ahead to 2024, we anticipate a slow but steady recovery. We have high confidence in the markets in which we have invested, the strength and resilience of our team, and the benefits of our build and buy growth strategy. Agilent is well-positioned for long-term growth."
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A Price Action: Shares of A were up 3.99% at $118.50 in the after-hours session at the time of publication, according to Benzinga Pro.
Image by Konstantin Kolosov from Pixabay
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