By: ICN Bureau
Last updated : August 18, 2021 8:24 pm
Agilent expects revenue in the range of $6.29 billion to $6.32 billion for fiscal year 2021.
Agilent Technologies reported revenue of $1.59 billion for the third quarter ended July 31, 2021, an increase of 26% compared to the third quarter of 2020 and up 21% on a core basis.
Third-quarter GAAP net income was $264 million, or 86 cents per share. This compares with $199 million, or 64 cents per share, in the third quarter of fiscal year 2020. Non-GAAP(2) net income was $337 million, or $1.10 per share compared with $243 million, or 78 cents per share, during the third quarter a year ago.
“The positive momentum in Agilent’s business continued in the third quarter across all markets and regions as our performance exceeded our expectations,” said Mike McMullen, Agilent President and CEO. “Our focus on high-growth businesses and strong execution has again led to another quarter of excellent results and we expect this momentum to continue as we close out our fiscal year.”
Financial Highlights
Life Sciences and Applied Markets Group
Third-quarter revenue of $680 million from Agilent’s Life Sciences and Applied Markets Group (LSAG) was up 22% year-over-year and 18% on a core(1) basis. LSAG’s operating margin was 25.0%.
Agilent CrossLab Group
Third-quarter revenue of $560 million from the Agilent CrossLab Group (ACG) increased 21% year-over-year and was up 15% on a corebasis. ACG’s operating margin was 29.3%.
Diagnostics and Genomics Group
Third-quarter revenue of $346 million from Agilent’s Diagnostics and Genomics Group (DGG) increased 44% year-over-year and was up 37% on a core basis. DGG’s operating margin was 22.6%.
Full-Year and Fourth-Quarter Outlook
Agilent has increased its outlook and now expects revenue in the range of $6.29 billion to $6.32 billion for fiscal year 2021. Fiscal year 2021 non-GAAP earnings guidance has also increased to a range of $4.28 to $4.31 per share.
Agilent expects fourth-quarter 2021 revenue in the range of $1.63 billion to $1.66 billion, with non-GAAPearnings expected to be in the range of $1.15 to $1.18 per share.
The outlook is based on currency-exchange rates as of July 31, 2021.