Company Reports

Agilent provides tools to analyze the structural properties of a variety of chemicals, molecules, and cells. The company is one of the leading providers of chromatography and mass spectrometry tools, which have applications in several end markets, including the healthcare, chemical, food, and environmental fields. While healthcare-related applications, including clinical diagnostics, remain Agilent’s largest end market, Agilent generates about half of its sales from nonhealthcare fields, too.

In its fiscal third quarter, Agilent delivered 7% core revenue growth, above its prior 4% to 6% outlook, and adjusted EPS growth of 18% to $1.62, including $0.06 in tariff refunds, but still above its prior guidance of $1.48-$1.50. Management also raised its full-year 2026 guidance.

In its fiscal second quarter, Agilent delivered 6.3% core revenue growth, above its prior 4.0%-5.5% outlook, and 14% adjusted earnings per share growth to $1.49, exceeding its prior guidance of $1.39-$1.42. Management raised its full-year 2026 guidance on these better-than-expected results.

Life science stocks have been under pressure since late 2022, but with profits expected to rebound in the high single digits in 2026 on average and potentially accelerate even further in 2027-30 due to upcoming catalysts, we see growing momentum in the industry’s profit growth trajectory.

Agilent provides tools to analyze the structural properties of various chemicals, molecules, and cells. The company is one of the leading providers of chromatography and mass spectrometry tools, which have applications in a variety of end markets, including the healthcare, chemical, food, and environmental fields. While healthcare-related applications, including clinical diagnostics, remain Agilent’s largest end market, Agilent generates about half of its sales from nonhealthcare fields, too.

Agilent reported fiscal first-quarter results that included 4% core revenue growth and 4% adjusted EPS growth to $1.36, which was within its prior guidance of $1.35-$1.38. Management mildly increased its 2026 outlook for positive foreign currency changes, too.

Agilent provides tools to analyze the structural properties of various chemicals, molecules, and cells. The company is one of the leading providers of chromatography and mass spectrometry tools, which have applications in a variety of end markets, including the healthcare, chemical, food, and environmental fields. While healthcare-related applications, including clinical diagnostics, remain Agilent’s largest end market, Agilent generates about half of its sales from nonhealthcare fields, too.

Agilent reported fiscal fourth-quarter results, including 7% core revenue growth and 9% adjusted earnings per share growth, both exceeding or meeting management's outlook. But the firm's 2026 guidance included a deceleration in growth to midsingle digits on both the top and bottom lines.

In the third quarter, Agilent reported 6% core revenue growth, exceeding management's previous guidance of 1.7%-3.6%, and adjusted earnings per share growth of 4% to $1.37, or on the high end of the firm's prior guidance range of $1.35-$1.37. Shares declined slightly in after-hours trading, though.

Agilent's second quarter included 5% core revenue growth to $1.67 billion, or above management's outlook of $1.61 billion to $1.65 billion, and 7% adjusted EPS growth to $1.31, or above its outlook of $1.25 to $1.28. The firm maintained its core revenue growth and adjusted EPS outlook for 2025, too.

Agilent provides tools to analyze the structural properties of various chemicals, molecules, and cells. The company is one of the leading providers of chromatography and mass spectrometry tools, which have applications in a variety of end markets, including the healthcare, chemical, food, and environmental fields. While healthcare-related applications, including clinical diagnostics, remain Agilent’s largest end market, Agilent generates about half of its sales from nonhealthcare fields, too.

Over the past week, life science shares have experienced significant volatility related to a deepening trade war with China and as broader US tariffs were implemented and then paused for 90 days to allow time for negotiations. A pharmaceutical-specific tariff is also being considered.

In the first quarter, Agilent turned in slightly higher core revenue (1%) and adjusted EPS (2%) growth than management previously projected, and the firm kept its core revenue growth and adjusted EPS targets intact for 2025, despite potential weakness due to US federal government changes in January.

Wide-moat Agilent delivered fiscal fourth-quarter results that helped it exceed our 2024 expectations. However, when considering the conservative outlook that management gave for fiscal 2025, we are keeping our $151 fair value estimate intact at first glance.

Agilent focuses on providing tools to analyze the structural properties of various chemicals, molecules, and cells. The company is one of the leading providers of chromatography and mass spectrometry tools, which have applications in a variety of end markets, including the healthcare, chemical, food, and environmental fields. While healthcare-related applications, including clinical diagnostics, remain Agilent’s largest end market, Agilent generates about half of its sales from nonhealthcare fields.

Wide-moat Agilent delivered fiscal third-quarter results that were slightly better than management's target. The firm increased the bottom end of its outlook range for fiscal 2024. Our $151 fair value estimate remains intact near recent trades.

Wide-moat Agilent delivered fiscal second-quarter profits that were slightly better than management's target. However, management cut its outlook for fiscal 2024, including a core revenue decline of 4%-5% (down from a 1% decline-1% growth previously) and adjusted EPS to $5.15-$5.25, or a 3%-5% decline (down from $5.44-$5.55 or 0%-2% growth, previously.) While we have reduced our near-term assumptions for Agilent, our long-term expectations have not changed materially, and our $151 fair value estimate remains intact. Shares are diving on this guidance cut, though, which may give investors an opportunity to grab shares in this high-quality firm at a discount to fair value.

Agilent focuses on providing tools to analyze the structural properties of various chemicals, molecules, and cells. The company is one of the leading providers of chromatography and mass spectrometry tools, which have applications in a variety of end markets, including the healthcare, chemical, food, and environmental fields. While healthcare-related applications, including clinical diagnostics, remain Agilent’s largest end market, Agilent generates about half of its sales from nonhealthcare fields.

Wide-moat Agilent Technologies delivered fiscal first-quarter results that were better than management's targets. However, it merely maintained its outlook for fiscal 2024. Our view for 2024 remains slightly more optimistic on the top line and at the high end of the bottom line compared with management's target ranges. At first glance, we do not anticipate changing our $151 fair value estimate. The shares appear to be rising closer to our fair value estimate in after-hours trading on these strong quarterly results.

Wide-moat Agilent delivered fourth-quarter results that were better than management's targets but reflected weakness in the typically robust biopharma end market in China. Management expects those challenges to continue but not deteriorate further in fiscal 2024, and its initial outlook for revenue and adjusted EPS looks moderately below our previous view. At first glance, we do not anticipate changing our $151 fair value estimate, though, considering much higher than expected cash flows recently. Also, Agilent's long-term prospects remain intact, and Agilent shares continue to look moderately undervalued to us.