Agilent Technologies (A) A Q3 Financial Results Summary
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Agilent Technologies Inc. (A) Q3 2026: Revenue Growth and Margin Expansion — Strongly Positive
Agilent Technologies Inc. (NYSE: A) reported a robust performance in its third quarter of fiscal year 2026, with revenue reaching $1.88 billion, an increase of $140 million or 8.1% compared to the same quarter last year. This growth reflects continued operational momentum and effective execution of the company's strategic initiatives.
Key Financial Metrics
- Revenue: $1.88 billion, up $140 million or +8.1% YoY
- GAAP Net Income: $362 million, up from $336 million YoY
- GAAP EPS: $1.28, an increase of 8% from $1.18 YoY
- Non-GAAP Net Income: $459 million, up from $390 million YoY
- Non-GAAP EPS: $1.62, an increase of 18% from $1.37 YoY
- GAAP Operating Margin: 23.6%, expanded by 290 basis points YoY
- Non-GAAP Operating Margin: 28.3%, expanded by 320 basis points YoY
Analyst Opinion
This quarter's results are decidedly positive for shareholders. The revenue growth of 8.1% and the significant expansion in both GAAP and non-GAAP operating margins indicate that Agilent is effectively managing its operations and capitalizing on market opportunities. The increase in earnings per share (EPS) further underscores the company's ability to enhance shareholder value. The operational momentum, as highlighted by CEO Padraig McDonnell, suggests that Agilent is well-positioned to sustain this growth trajectory.
Dividend and Share Buyback
Agilent continues to demonstrate its commitment to returning value to shareholders through dividends. The company paid $216 million in dividends during the quarter, reflecting a consistent approach to shareholder returns. Additionally, Agilent repurchased $295 million of its common stock, further indicating confidence in its financial health and future prospects.
Guidance Update
Looking ahead, Agilent has raised its fiscal year 2026 revenue guidance to a range of $7.49 billion to $7.51 billion, representing a growth of 7.8% to 8.1% reported and 5.8% to 6.0% core. The non-GAAP EPS guidance for the fiscal year has also been adjusted to a range of $6.18 to $6.21, reflecting an increase of 15 cents at the midpoint compared to previous estimates.
For the fourth quarter of 2026, Agilent expects revenue in the range of $1.98 billion to $2.0 billion, which translates to growth of 6.4% to 7.4% reported and 5.2% to 6.2% core. Non-GAAP EPS is anticipated to be between $1.71 and $1.74 per share.
Forward Catalysts
Investors should closely monitor Agilent's performance in the upcoming quarter, particularly in light of the anticipated revenue growth and margin expansion. Key areas to watch include the continued demand in the Life Sciences and Diagnostics Markets Group, which reported a 11% revenue growth this quarter, and the impact of ongoing operational improvements. Additionally, any updates on product launches and market responses will be crucial in assessing Agilent's ability to sustain its growth momentum.
In conclusion, Agilent's third-quarter results reflect a strong operational performance, with significant revenue growth and margin expansion. The raised guidance and ongoing commitment to shareholder returns position the company favorably for continued success in the upcoming quarters.
AGILENT TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share data)
Note: Amounts in the following tables are in thousands.
| Three Months Ended | Nine Months Ended | |||
|---|---|---|---|---|
| July 31, 2026 | July 31, 2025 | July 31, 2026 | July 31, 2025 | |
| Net revenue | $1,878 | $1,738 | $5,511 | $5,0… |
| Cost of sales | $836 | $850 | $2,533 | $2,4… |
| Research and development | $123 | $111 | $366 | $336 |
| Selling, general and administrative | $475 | $417 | $1,416 | $1,2… |
| Total cost and expenses | $1,434 | $1,378 | $4,315 | $4,0… |
| Income from operations | $444 | $360 | $1,196 | $1,0… |
| Interest income | $15 | $16 | $43 | $45 |
| Interest expense | -$29 | -$28 | -$79 | -$85 |
| Other income (expense), net | $14 | $18 | $56 | -$3 |
| Income before tax | $444 | $366 | $1,216 | $993 |
| Provision for income tax | $82 | $30 | $210 | $124 |
| Net income | $362 | $336 | $1,006 | $869 |
| Net income per share, basic | $1.28 | $1.18 | $3.55 | $3.05 |
| Net income per share, diluted | $1.28 | $1.18 | $3.55 | $3.05 |
| Weighted-average shares used to compute net income per share, basic | 282 | 284 | 283 | 285 |
| Weighted-average shares used to compute net income per share, diluted | 283 | 285 | 283 | 285 |
The preliminary income statement is estimated based on our current information.
AGILENT TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions, except par value and share data)
Note: Amounts in the following tables are in millions.
| July 31, 2026 | October 31, 2025 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $1,758 | $1,789 |
| Accounts receivable, net | $1,478 | $1,487 |
| Inventory | $1,117 | $1,025 |
| Other current assets | $340 | $293 |
| Total current assets | $4,693 | $4,594 |
| Property, plant and equipment, net | $2,134 | $2,023 |
| Goodwill | $5,030 | $4,473 |
| Other intangible assets, net | $906 | $445 |
| Long-term investments | $130 | $133 |
| Other assets | $1,074 | $1,059 |
| Total assets | $13,967 | $12,727 |
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $608 | $570 |
| Employee compensation and benefits | $423 | $443 |
| Deferred revenue | $640 | $624 |
| Short-term debt | $304 | $304 |
| Other accrued liabilities | $314 | $406 |
| Total current liabilities | $2,289 | $2,347 |
| Long-term debt | $3,645 | $3,050 |
| Retirement and post-retirement benefits | $128 | $126 |
| Other long-term liabilities | $542 | $463 |
| Total liabilities | $6,604 | $5,986 |
| Total Equity: | ||
| Stockholders' equity: | ||
| Preferred stock; $0.01 par value; 125,000,000 shares authorized; none issued and outstanding | $3 | — |
| Common stock; $0.01 par value; 2,000,000,000 shares authorized; 281,965,813 shares at July 31, 2026 and 283,054,377 shares at October 31, 2025, issued and outstanding | $3 | $3 |
| Additional paid-in-capital | $5,681 | $5,575 |
| Retained earnings | $1,912 | $1,389 |
| Accumulated other comprehensive loss | -$233 | -$226 |
| Total stockholders' equity | $7,363 | $6,741 |
| Total liabilities and stockholders' equity | $13,967 | $12,727 |
The preliminary balance sheet is estimated based on our current information.
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