Agilent Technologies Inc


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Agilent Technologies, Inc. delivered a solid result and managed an all-around beat in the quarter. Despite a 9.7% decline in revenue to $1.69 billion, the team managed to surpass expectations by maintaining a robust fourth-quarter operating margin of 27.8%. Earnings per share at $1.38 exceeded guidance, although it marked a 10% decrease from the previous year’s formidable 26% growth. While the market posed ongoing challenges, signs of stabilization emerged, reflected in a promising book-to-bill ratio of 1 for the company and over 1 for LSAG instruments. Though down year-on-year, the regional performance showed sequential growth in most areas except China, aligning with expectations. Despite a 14% decline in the pharma sector, the biopharma segment outside China exhibited high single-digit growth, emphasizing the resilience of specific market segments. Despite an 18% core decline in the Life Science and Applied Markets Group, there is optimism about sustained growth in PFAS solutions and Advanced Materials. The Agilent CrossLab Group achieved a 4% core growth, with a notable 65% representation from the contract services business. The Diagnostic and Genomics Group reported flat core revenue, with pathology NASD businesses showing commendable double-digit growth, counteracted by genomics challenges. Looking ahead to FY 2024, Agilent’s team anticipates a slow recovery, expecting revenue growth and leveraged EPS growth.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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