Agilent Technologies Inc
A
$146.36 2.09%
Exchange: NYSE | Sector: Healthcare | Industry: Medical Diagnostics Research
Q2 2024
Published: Jun 3, 2024

Earnings Highlights

  • Revenue of $1.57B down 8.4% year-over-year
  • EPS of $1.05 increased by 2.9% from previous year
  • Gross margin of 54.4%
  • Net income of 308.00M
  • ""In a challenging market environment, the Agilent team delivered on expectations... although revenues declined in the quarter, our book-to-bill was greater than one, and orders grew year-over-year for the first time in seven quarters."" - Padraig McDonnell

Agilent Technologies Inc (A) Q2 2024 Results - Navigating Challenges Amidst Signs of Recovery

Executive Summary

In Q2 2024, Agilent Technologies Inc reported revenues of $1.573 billion, reflecting a 7.4% decline year-over-year and an 8.4% decline on a reported basis. This downturn comes against challenging year-ago comparisons that saw a 9.5% increase. Despite these challenges, Agilent's management noted that their book-to-bill ratio was above one and order growth year-over-year returned for the first time in seven quarters, signaling potential stabilization ahead. The company has adjusted its full-year revenue guidance to $6.42 billion to $6.5 billion, reflecting a forecasted decline of 4.3% to 5.4% for the year, alongside an EPS expectation of $5.15 to $5.25. Management emphasized a strategic focus on cost-saving measures and targeted investments in high-growth opportunities as critical steps to navigating this turbulence during their earnings call.

Key Performance Indicators

Revenue

1.57B
QoQ: -5.13% | YoY:-8.39%

Gross Profit

856.00M
54.42% margin
QoQ: -6.24% | YoY:-7.36%

Operating Income

363.00M
QoQ: -9.25% | YoY:-5.22%

Net Income

308.00M
QoQ: -11.49% | YoY:1.99%

EPS

1.05
QoQ: -11.76% | YoY:2.94%

Revenue Trend

Margin Analysis

Key Insights

  • The decline in revenue was predominantly from reduced demand across all end markets, with the most significant contributions from the Pharma sector, which saw an 11% drop.
  • The Americas and Europe slightly outperformed expectations while China lagged notably, down 21%.
  • Management indicated that the gross margin improved under cost discipline and productivity measures, despite lower demand, highlighting a robust operational approach to maintain profitability.

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q2 2025 1,668.00 0.75 +6.0% View
Q1 2025 1,681.00 1.11 +1.4% View
Q4 2024 1,701.00 1.21 +0.8% View
Q3 2024 1,578.00 0.97 -5.6% View
Q2 2024 1,573.00 1.05 -8.4% View