24 November 2022 | Thursday | News
Image Source : Public Domain
Fourth-quarter fiscal year 2022
Fiscal year 2022
Fiscal year 2023 and first quarter outlook
Agilent Technologies Inc. (NYSE: A) today reported revenue of $1.85 billion for the fourth quarter ended Oct. 31, 2022, an increase of 11% compared to the fourth quarter of 2021 and up 17% on a core(1) basis. Revenue for the full year was $6.85 billion, delivering 8% reported growth and core(1) growth of 12%.
Fourth-quarter GAAP net income was $368 million, or $1.23 per share. This compares with $442 million, or $1.45 per share, in the fourth quarter of fiscal year 2021. Non-GAAP(2) net income was $456 million, or $1.53 per share during the quarter, compared with $368 million or $1.21 per share during the fourth quarter a year ago.
For the full year, GAAP net income was $1.254 billion or $4.18 per share, up 6% from fiscal year 2021. Non-GAAP(2) net income was $1.565 billion or $5.22 per share, up 20% from fiscal year 2021.
“Agilent had another excellent year, capping off 2022 with an outstanding fourth quarter,” said Mike McMullen, Agilent president and CEO. “The Agilent team delivered double digit core revenue growth in each of our business groups in FY 2022. Our track record of strong execution and broad-based strength across our portfolio sets us up well as we look forward to a new fiscal year.”
In the first quarter of 2022, Agilent implemented certain changes to its segment reporting structure. Prior period segment information has been recast to reflect these changes. These changes have no impact on Agilent’s consolidated financial statements.
Life Sciences and Applied Markets Group
The Agilent Life Sciences and Applied Markets Group (LSAG) posted fourth-quarter revenue of $1.12 billion, representing year-over-year reported growth of 16% (up 22% on a core(1) basis). LSAG’s operating margin for the quarter was 32.7%. Full-year revenue of $4.01 billion grew a reported 9% over last year (up 13% on a core(1) basis). LSAG’s operating margin for the year was 29.6%.
Agilent CrossLab Group
The Agilent CrossLab Group (ACG) posted fourth-quarter revenue of $381 million, representing year-over-year reported growth of 7% (up 14% on a core(1) basis). ACG’s operating margin for the quarter was 27.4%. Full-year revenue of $1.45 billion grew a reported 7% over last year (up 11% on a core(1) basis). ACG’s operating margin for the year was 25.5%.
Diagnostics and Genomics Group
The Diagnostics and Genomics Group (DGG) generated fourth-quarter revenue of $352 million, up a reported 3% year over year (up 8% on a core(1) basis). DGG posted operating margins of 19.5%. Full-year revenue was $1.39 billion, which was up a reported 7% year over year (up 10% on a core(1) basis). DGG’s operating margin for the year was 21.7%.
Full Year and First-Quarter Outlook
Full-year revenue is expected to be in the range of $6.90 billion to $7.00 billion, representing reported growth of 0.8% to 2.2% and core(1) growth of 5.0% to 6.5%. Full-year non-GAAP(3) EPS is expected to be in the range of $5.61 to $5.69 per share.
The outlook for first-quarter revenue is expected to be in a range of $1.68 billion to $1.70 billion, representing reported growth of 0.4% to 1.6% and core(1) revenue growth of 6.8% to 8.0%. First-quarter non-GAAP(3) earnings guidance is expected to be in the range of $1.29 to $1.31 per share.
The outlook is based on October 31, 2022, currency exchange rates.
Agilent’s management will present additional details regarding the company’s fourth-quarter and fiscal year 2022 financial results on a conference call with investors today at 1:30 p.m. PST. This event will be broadcast live online in listen-only mode. To listen to the webcast, select the “Q4 2022 Agilent Technologies Inc. Earnings Conference Call” link on the Agilent Investor Relations website. The webcast will remain on the company site for 90 days.