- Agilent Technologies Inc (NYSE:A) reported a Q2 FY23 revenues increase of 6.8% Y/Y (+9.5% Y/Y on a core basis) to $1.72 billion, beating the analysts’ estimate of $1.67 billion.
- The company witnessed revenue growth across all end markets and regions.
- By segment, the Life Sciences and Applied Markets Group revenues increased 8% Y/Y, or 10% Y/Y on a core basis, to $968 million, while the Agilent CrossLab group’s revenues were up 10% Y/Y (+13% Y/Y core) to $387 million.
- The Diagnostics and Genomics Group’s revenues grew 1% (+3% Y/Y core) to $362 million.
- The company reported Q2 adjusted EPS of $1.27, marginally exceeding the consensus Wall Street estimate of $1.26.
- Operating cash flow rose to $694 million at the end of Q2 from $538 million a year ago.
- Cash and equivalents stood at $1.18 billion at the end of the quarter.
- Guidance: For Q3 FY23, Agilent expects revenues of $1.640 billion-$1.675 billion (consensus of $1.77 billion) and adjusted EPS of $1.36-$1.38 (consensus of $1.43).
- Amid increased market uncertainties, the company cut its FY23 outlook. It now expects revenues of $6.93 billion-$7.03 billion (vs. $7.03 billion-$7.10 billion earlier) and adjusted EPS of $5.60-$5.65 (from $5.65- $5.70 previously), compared to the consensus of $7.09 billion and $5.69, respectively.
- Price Action: A shares are trading lower by 9.05% at $117.00 premarket on the last check Wednesday.
Retail Giant Kroger Trims Identical Sales Outlook As Consumer Spending Tightens: Details
Kroger Company (NYSE: KR) reported a third-quarter FY23 sales decline of 0.7% year-on-year to $33.96 billion, marginally beating the analyst consensus estimate of $33.92 billion.
