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Jan 31, 2022
Agilent Q1 2022 Earnings Report
Agilent reported strong first-quarter fiscal year 2022 financial results and raised full-year guidance.
Key Takeaways
Agilent Technologies reported revenue of $1.67 billion for the first quarter, an 8% increase compared to the first quarter of 2021. GAAP net income was $283 million, or $0.93 per share. The company is raising its full year outlook, increasing core growth and non-GAAP EPS expectations.
Revenue of $1.67 billion represents 8% reported growth and 9% on a core basis.
GAAP net income of $283 million with earnings per share (EPS) of $0.93, flat from the first quarter of 2021.
Non-GAAP net income of $368 million with EPS of $1.21, up 14% from the first quarter of 2021.
Full year revenue is expected to be in the range of $6.67 billion to $6.73 billion, representing reported growth of 5.6% to 6.5%, and core growth of 7.0% to 8.0%.
Revenue by Segment
Forward Guidance
Agilent has increased its full year outlook and now expects revenue of $6.67 billion to $6.73 billion for fiscal year 2022, representing reported growth of 5.6% to 6.5%, and resulting in an increase in core growth to a range of 7.0% to 8.0%. Fiscal year 2022 non-GAAP EPS is increased to an estimated range of $4.80 to $4.90. The outlook for fiscal 2022 second-quarter revenue is expected to be in a range of $1.595 billion to $1.625 billion. Fiscal second-quarter non-GAAP earnings guidance is in a range of $1.10 to $1.12 per share.
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