Delivers solid results in Q4; initiates FY25
guidance
Fourth-quarter fiscal year 2024
- Revenue of $1.70 billion, up 0.8% reported and down 0.3%
core(1) from the fourth quarter of 2023.
- GAAP net income of $351 million; earnings per share (EPS) of
$1.22, down 25% from the fourth quarter of 2023.
- Non-GAAP(2) net income of $418 million; EPS of $1.46, up 6%
from the fourth quarter of 2023.
Full fiscal year 2024
- Revenue of $6.51 billion, down 4.7% on a reported basis and
down 4.7% core(1) year-over-year.
- GAAP net income of $1.289 billion; EPS of $4.43, up 6%
year-over-year.
- Non-GAAP(2) net income of $1.539 billion; EPS of $5.29, down 3%
year-over-year.
Fiscal year 2025 and first-quarter outlook
- Fiscal year revenue is expected in the range of $6.790 billion
to $6.870 billion, representing a range of up 4.3% to 5.5% on a
reported basis and 2.5% to 3.5% core(1). Non-GAAP(3) earnings are
expected in the range of $5.54 to $5.61 per share.
- Fiscal first-quarter revenue guidance is expected in the range
of $1.650 billion to $1.680 billion, a decline of 0.5% to an
increase of 1.3% reported and a decline of 2.0% to 0.2% core(1).
Non-GAAP(3) earnings are expected in the range of $1.25 to $1.28
per share.
Agilent Technologies Inc. (NYSE: A) today reported revenue of
$1.70 billion for the fourth quarter ended October 31, 2024, an
increase of 0.8% reported and a decline of 0.3% core(1) compared to
the fourth quarter of 2023.
Fourth-quarter GAAP net income was $351 million, or $1.22 per
share. This compares with $475 million, or $1.62 per share, in the
fourth quarter of fiscal year 2023. Non-GAAP(2) net income was $418
million, or $1.46 per share during the quarter, compared with $404
million or $1.38 per share during the fourth quarter a year
ago.
“The Agilent team again executed well and delivered solid
results in the fourth quarter as the markets continued to recover,”
said Agilent President and CEO Padraig McDonnell. “Our new
market-based, customer-first strategy combined with our
transformation – which includes the new organizational structure
announced today – will position us to capture even more growth
opportunities as the market improves. I look forward to sharing
more about these exciting developments during our Analyst and
Investor Day in December.”
Financial Highlights
In the first quarter of 2024, 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
Agilent’s Life Sciences and Applied Markets Group (LSAG)
reported fourth-quarter revenue of $833 million, a decline of 1%
reported and 1% core(1) year-over-year. LSAG’s operating margin for
the quarter was 28.0%. Full-year revenue of $3.22 billion declined
8% reported and 8% core(1) over last year. LSAG’s operating margin
for the year was 27.3%.
Agilent CrossLab Group
The Agilent CrossLab Group (ACG) reported fourth-quarter revenue
of $426 million, an increase of 5% reported and 5% core(1)
year-over-year. ACG’s operating margin for the quarter was 32.6%.
Full-year revenue of $1.64 billion increased 5% reported and 5%
core(1) over last year. ACG’s operating margin for the year was
31.9%.
Diagnostics and Genomics Group
The Diagnostics and Genomics Group (DGG) reported fourth-quarter
revenue of $442 million, a decrease of 1% reported and 3% core(1)
year-over-year. DGG’s operating margin for the quarter was 21.2%.
Full-year revenue of $1.65 billion declined 6% reported and 6%
core(1) over last year. DGG’s operating margin for the year was
19.4%.
Full Year 2025 and First-Quarter Outlook
Full-year revenue outlook is expected in the range of $6.790
billion to $6.870 billion, representing a range of up 4.3% to 5.5%
reported and 2.5% to 3.5% core(1). Non-GAAP(3) EPS is expected in
the range of $5.54 to $5.61 per share.
The outlook for first-quarter revenue is expected to be in the
range of $1.650 billion to $1.680 billion, a decline of 0.5% to an
increase of 1.3% reported and a decline of 2.0% to 0.2% core(1).
Non-GAAP(3) EPS is expected in the range of $1.25 to $1.28 per
share.
The outlook is based on forecasted currency exchange rates.
Conference Call
Agilent’s management will present additional details regarding
the company’s fourth-quarter 2024 financial results on a conference
call with investors today at 1:30 p.m. PT. This event will be
broadcast live online in listen-only mode. To listen to the
webcast, select the “Q4 2024 Agilent Technologies Inc. Earnings
Conference Call” link on the Agilent Investor Relations website.
The replay of the call will remain on the company site for 90
days.
Organizational Structure Announcement
Agilent today also announced a new organizational structure, an
important step in the company’s transformation to become nimbler
and more customer centric. Read the announcement. Agilent will
share more information about the company’s evolved market-focused
strategy and transformation at its Investor Day in New York City on
Dec. 17, 2024. See details here.
About Agilent Technologies
Agilent Technologies Inc. (NYSE: A) is a global leader in
analytical and clinical laboratory technologies, delivering
insights and innovation that help our customers bring great science
to life. Agilent’s full range of solutions includes instruments,
software, services, and expertise that provide trusted answers to
our customers' most challenging questions. The company generated
revenue of $6.51 billion in fiscal year 2024 and employs
approximately 18,000 people worldwide. Information about Agilent is
available at www.agilent.com. To receive the latest Agilent news,
subscribe to the Agilent Newsroom. Follow Agilent on LinkedIn and
Facebook.
Forward-Looking Statements
This news release contains forward-looking statements as defined
in the Securities Exchange Act of 1934 and is subject to the safe
harbors created therein. The forward-looking statements contained
herein include, but are not limited to, information regarding
Agilent’s growth prospects, business, financial results, revenue,
non-GAAP earnings guidance for Q1 and fiscal year 2025, and the
effects of its new organizational structure, operational
transformation and market-focused strategy. These forward-looking
statements involve risks and uncertainties that could cause
Agilent’s results to differ materially from management’s current
expectations. Such risks and uncertainties include, but are not
limited to, unforeseen changes in the strength of Agilent’s
customers’ businesses; unforeseen changes in the demand for current
and new products, technologies, and services; unforeseen changes in
the currency markets; customer purchasing decisions and timing; and
the risk that Agilent is not able to realize the savings expected
from integration and restructuring activities. In addition, other
risks that Agilent faces in running its operations include the
ability to execute successfully through business cycles; the
ability to meet and achieve the benefits of its operational
transformation, market-focused strategy and cost-reduction goals
and otherwise successfully adapt its cost structures to continuing
changes in business conditions; ongoing competitive, pricing and
gross-margin pressures; the risk that its cost-cutting initiatives
will impair its ability to develop products and remain competitive
and to operate effectively; the impact of geopolitical
uncertainties and global economic conditions on its operations, its
markets and its ability to conduct business; the ability to improve
asset performance to adapt to changes in demand; the ability of its
supply chain to adapt to changes in demand; the ability to
successfully introduce new products at the right time, price and
mix; the ability of Agilent to successfully integrate recent
acquisitions; the ability of Agilent to successfully comply with
certain complex regulations; and other risks detailed in Agilent’s
filings with the Securities and Exchange Commission, including its
quarterly report on Form 10-Q for the fiscal quarter ended July 31,
2024. Forward-looking statements are based on the beliefs and
assumptions of Agilent’s management and on currently available
information. Agilent undertakes no responsibility to publicly
update or revise any forward-looking statement.
(1) Core revenue growth excludes the impact of currency and
acquisitions and divestitures within the past 12 months. Core
revenue is a non-GAAP measure. Reconciliations between GAAP revenue
and core revenue for Q4 fiscal year 2024 and full fiscal year 2024
are set forth on pages 6 and 7 of the attached tables along with
additional information regarding the use of this non-GAAP measure.
Core revenue growth rate as projected for Q1 fiscal year 2025 and
full fiscal year 2025 excludes the impact of currency and
acquisitions and divestitures within the past 12 months. Most of
the excluded amounts pertain to events that have not yet occurred
and are not currently possible to estimate with a reasonable degree
of accuracy and could differ materially. Therefore, no
reconciliation to GAAP amounts has been provided for the
projection.
(2) Non-GAAP net income and non-GAAP earnings per share
primarily exclude the impacts of restructuring and other related
costs, asset impairments, intangibles amortization,
transformational initiatives, acquisition and integration costs and
net (gain) loss on equity securities. Agilent also excludes any tax
benefits or expenses that are not directly related to ongoing
operations, and which are either isolated or are not expected to
occur again with any regularity or predictability. A reconciliation
between non-GAAP net income and GAAP net income is set forth on
page 4 of the attached tables along with additional information
regarding the use of this non-GAAP measure.
(3) Non-GAAP earnings per share as projected for Q1 fiscal year
2025 and full fiscal year 2025 exclude primarily the estimated
impacts of non-cash intangibles amortization, transformational
initiatives, and acquisition and integration costs. Agilent also
excludes any tax benefits or expenses that are not directly related
to ongoing operations, and which are either isolated or are not
expected to occur again with any regularity or predictability. Most
of these excluded amounts pertain to events that have not yet
occurred and are not currently possible to estimate with a
reasonable degree of accuracy and could differ materially.
Therefore, no reconciliation to GAAP amounts has been provided.
Future amortization of intangibles is expected to be approximately
$28 million per quarter.
AGILENT TECHNOLOGIES,
INC.
CONDENSED CONSOLIDATED
STATEMENT OF OPERATIONS
(In millions, except per share
data)
(Unaudited)
PRELIMINARY
Three Months Ended
Years Ended
October 31,
October 31,
2024
2023
2024
2023
Net revenue
$
1,701
$
1,688
$
6,510
$
6,833
Costs and expenses: Cost of products and services
785
773
2,975
3,368
Research and development
111
114
479
481
Selling, general and administrative
397
393
1,568
1,634
Total costs and expenses
1,293
1,280
5,022
5,483
Income from operations
408
408
1,488
1,350
Interest income
24
17
80
51
Interest expense
(32
)
(22
)
(96
)
(95
)
Other income (expense), net
1
17
49
33
Income before taxes
401
420
1,521
1,339
Provision for (benefit from) income taxes
50
(55
)
232
99
Net income
$
351
$
475
$
1,289
$
1,240
Net income per share: Basic
$
1.23
$
1.63
$
4.44
$
4.22
Diluted
$
1.22
$
1.62
$
4.43
$
4.19
Weighted average shares used in computing net income per
share: Basic
286
292
290
294
Diluted
287
293
291
296
The preliminary income statement is estimated based on our
current information. Page 1
AGILENT TECHNOLOGIES,
INC.
CONDENSED CONSOLIDATED BALANCE
SHEET
(In millions, except par value
and share data)
(Unaudited)
PRELIMINARY
October 31,
October 31,
2024
2023
ASSETS Current assets: Cash and cash equivalents
$
1,329
$
1,590
Accounts receivable, net
1,324
1,291
Inventory
972
1,031
Other current assets
334
274
Total current assets
3,959
4,186
Property, plant and equipment, net
1,778
1,270
Goodwill
4,477
3,960
Other intangible assets, net
547
475
Long-term investments
175
164
Other assets
910
708
Total assets
$
11,846
$
10,763
LIABILITIES AND EQUITY Current liabilities: Accounts
payable
$
540
$
418
Employee compensation and benefits
368
371
Deferred revenue
544
505
Short-term debt
45
—
Other accrued liabilities
398
309
Total current liabilities
1,895
1,603
Long-term debt
3,345
2,735
Retirement and post-retirement benefits
130
103
Other long-term liabilities
578
477
Total liabilities
5,948
4,918
Total Equity: Stockholders' equity: Preferred stock; $0.01
par value; 125,000,000 shares authorized; none issued and
outstanding
—
—
Common stock; $0.01 par value, 2,000,000,000 shares authorized;
285,193,011 shares at October 31, 2024 and 292,123,241 shares at
October 31, 2023, issued and outstanding
3
3
Additional paid-in-capital
5,450
5,387
Retained earnings
750
782
Accumulated other comprehensive loss
(305
)
(327
)
Total stockholders' equity
5,898
5,845
Total liabilities and stockholders' equity
$
11,846
$
10,763
The preliminary balance sheet is estimated based on our
current information. Page 2
AGILENT TECHNOLOGIES,
INC.
CONDENSED CONSOLIDATED
STATEMENT OF CASH FLOWS
(In millions)
(Unaudited)
PRELIMINARY
Years Ended
October 31,
October 31,
2024
2023
Cash flows from operating activities: Net income
$
1,289
$
1,240
Adjustments to reconcile net income to net cash provided by
operating activities: Depreciation and amortization
257
271
Share-based compensation
129
111
Deferred taxes
(64
)
(56
)
Excess and obsolete inventory related charges
45
40
Net (gain) loss on equity securities
5
41
Asset impairment charges
8
277
Change in fair value of contingent consideration
—
1
Net gain on divestiture of business
—
(43
)
Other non-cash (income) expense, net
(1
)
6
Changes in assets and liabilities: Accounts receivable, net
7
132
Inventory
34
(33
)
Accounts payable
103
(171
)
Employee compensation and benefits
(12
)
(91
)
Other assets and liabilities
(49
)
47
Net cash provided by operating activities (a)
1,751
1,772
Cash flows from investing activities: Payments to acquire
property, plant and equipment
(378
)
(298
)
Proceeds from sale of equity securities
—
5
Payments to acquire equity securities
(5
)
(8
)
Proceeds from convertible note
—
4
Payments in exchange for convertible note
(13
)
(12
)
Proceeds from divestiture of business
—
50
Payments to acquire businesses and intangible assets, net of cash
acquired
(862
)
(51
)
Net cash used in investing activities
(1,258
)
(310
)
Cash flows from financing activities: Proceeds from issuance
of common stock under employee stock plans
77
67
Payment of taxes related to net share settlement of equity awards
(30
)
(54
)
Payments for repurchase of common stock
(1,150
)
(575
)
Payment of excise taxes related to repurchases of common stock
(3
)
—
Payments of dividends
(274
)
(265
)
Proceeds from issuance of long-term debt
1,197
—
Repayments of long-term debt
(180
)
—
Payments of debt issuance costs
(9
)
—
Net proceeds from (repayment of) short-term debt
(380
)
(35
)
Payment for contingent consideration
—
(68
)
Net cash used in financing activities
(752
)
(930
)
Effect of exchange rate movements
(2
)
5
Net increase (decrease) in cash, cash equivalents and
restricted cash
(261
)
537
Cash, cash equivalents and restricted cash at beginning of
period
1,593
1,056
Cash, cash equivalents and restricted cash at end of period
$
1,332
$
1,593
Reconciliation of cash, cash equivalents and
restricted cash to the condensed consolidated balance sheet:
Cash and cash equivalents
$
1,329
$
1,590
Restricted cash, included in other assets
3
3
Total cash, cash equivalents and restricted cash
$
1,332
$
1,593
(a) Cash payments included in operating activities:
Income tax payments, net of refunds received
$
314
$
199
Interest payments, net of capitalized interest
$
80
$
89
The preliminary cash flow is estimated based on our current
information. Page 3
AGILENT TECHNOLOGIES,
INC.
NON-GAAP NET INCOME AND
DILUTED EPS RECONCILIATIONS
(In millions, except per share
data)
(Unaudited)
PRELIMINARY
Three Months Ended
Years Ended
October 31,
October 31,
2024
2023
2024
2023
Net Income
Diluted EPS
Net Income
Diluted EPS
Net Income
Diluted EPS
Net Income
Diluted EPS
GAAP net income
$
351
$
1.22
$
475
$
1.62
$
1,289
$
4.43
$
1,240
$
4.19
Non-GAAP adjustments: Restructuring and other related costs
5
0.02
46
0.16
76
0.26
46
0.16
Asset impairments
—
—
—
—
8
0.03
277
0.94
Intangible amortization
25
0.09
27
0.09
102
0.35
139
0.47
Transformational initiatives
6
0.02
(6
)
(0.02
)
11
0.04
25
0.08
Acquisition and integration costs
7
0.02
4
0.01
12
0.04
16
0.05
Business exit and divestiture costs (gain)
—
—
(43
)
(0.15
)
—
—
(43
)
(0.15
)
Net loss on equity securities
12
0.04
27
0.09
10
0.03
42
0.14
Pension settlement loss
2
0.01
4
0.01
2
0.01
4
0.01
Change in fair value of contingent consideration
—
—
—
—
—
—
1
—
Other
13
0.05
(11
)
(0.03
)
17
0.06
20
0.07
Adjustment for taxes (a)
(3
)
(0.01
)
(119
)
(0.40
)
12
0.04
(158
)
(0.52
)
Non-GAAP net income
$
418
$
1.46
$
404
$
1.38
$
1,539
$
5.29
$
1,609
$
5.44
(a) The adjustment for taxes excludes tax expense (benefits)
that management believes are not directly related to on-going
operations and which are either isolated, temporary or cannot be
expected to occur again with any regularity or predictability such
as the realized gain/loss due to sale of a business, windfall
benefits on stock compensation, and the impact of R&D
capitalization under section 174 of the Tax Cuts and Jobs Act of
2017. For the three months ended October 31, 2024, management used
a non-GAAP effective tax rate of 11.25%. For the fiscal year ended
October 31, 2024, management used a non-GAAP effective tax rate of
12.50%. For the three months and fiscal year ended October 31,
2023, management used a non-GAAP effective tax rate of 13.75%.
We provide non-GAAP net income and non-GAAP net income per
share amounts in order to provide meaningful supplemental
information regarding our operational performance and our prospects
for the future. These supplemental measures exclude, among other
things, charges related to restructuring and other related costs,
asset impairments, amortization of intangibles, transformational
initiatives, acquisition and integration costs, business exit and
divestiture costs (gain), net (gain) loss on equity securities,
pension settlement loss and change in fair value of contingent
consideration.
Restructuring and other related costs
include incremental expenses incurred in the period associated with
restructuring programs, usually aimed at changes in business and/or
cost structure. Such costs may include one-time termination
benefits, facility-related costs and contract termination fees.
Asset impairments include assets that have been
written down to their fair value.
Transformational
initiatives include expenses associated with targeted cost
reduction activities such as manufacturing transfers including
costs to move manufacturing, site consolidations, legal entity and
other business reorganizations, insourcing or outsourcing of
activities. Such costs may include move and relocation costs,
one-time termination benefits and other one-time reorganization
costs. Included in this category are also expenses associated with
company programs to transform our product lifecycle management
(PLM) system and human resources and financial systems.
Acquisition and integration costs include all incremental
expenses incurred to effect a business combination. Such
acquisition costs may include advisory, legal, tax, accounting,
valuation, and other professional or consulting fees. Such
integration costs may include expenses directly related to
integration of business and facility operations, the transfer of
assets and intellectual property, information technology systems
and infrastructure and other employee-related costs.
Business exit and divestiture costs (gain) include costs and
gain associated with business divestitures.
Net (gain)
loss on equity securities relates to the realized and unrealized
mark-to-market adjustments for our marketable and non-marketable
equity securities. Pension settlement loss relates to
the relief of the US Retirement Plan pension obligation due to
increased lump sum payouts over a specified accounting
threshold. Change in fair value of contingent
consideration represents changes in the fair value estimate of
acquisition-related contingent consideration.
Other
includes certain legal costs and settlements, special compliance
costs, acceleration of stock-based compensation expense and other
miscellaneous adjustments. Our management uses non-GAAP
measures to evaluate the performance of our core businesses, to
estimate future core performance and to compensate employees. Since
management finds this measure to be useful, we believe that our
investors benefit from seeing our results “through the eyes” of
management in addition to seeing our GAAP results. This information
facilitates our management’s internal comparisons to our historical
operating results as well as to the operating results of our
competitors. Our management recognizes that items such as
amortization of intangibles can have a material impact on our cash
flows and/or our net income. Our GAAP financial statements
including our statement of cash flows portray those effects.
Although we believe it is useful for investors to see core
performance free of special items, investors should understand that
the excluded items are actual expenses that may impact the cash
available to us for other uses. To gain a complete picture of all
effects on the company’s profit and loss from any and all events,
management does (and investors should) rely upon the GAAP income
statement. The non-GAAP numbers focus instead upon the core
business of the company, which is only a subset, albeit a critical
one, of the company’s performance. Readers are reminded that
non-GAAP numbers are merely a supplement to, and not a replacement
for, GAAP financial measures. They should be read in conjunction
with the GAAP financial measures. It should be noted as well that
our non-GAAP information may be different from the non-GAAP
information provided by other companies. The preliminary
non-GAAP net income and diluted EPS reconciliation is estimated
based on our current information.
Page 4
AGILENT TECHNOLOGIES,
INC.
SEGMENT INFORMATION
(In millions, except where
noted)
(Unaudited)
PRELIMINARY
Quarter-over-Quarter
Life Sciences and Applied Markets Group
Q4'24
Q4'23
Revenue
$
833
$
839
Gross Margin, %
59.1
%
59.5
%
Income from Operations
$
233
$
240
Operating margin, %
28.0
%
28.6
%
Diagnostics and Genomics Group
Q4'24
Q4'23
Revenue
$
442
$
445
Gross Margin, %
51.5
%
53.7
%
Income from Operations
$
94
$
101
Operating margin, %
21.2
%
22.7
%
Agilent CrossLab Group
Q4'24
Q4'23
Revenue
$
426
$
404
Gross Margin, %
50.9
%
50.4
%
Income from Operations
$
139
$
128
Operating margin, %
32.6
%
31.7
%
Year-over-Year
Life Sciences and Applied Markets Group
FY24
FY23
Revenue
$
3,215
$
3,510
Gross Margin, %
59.7
%
60.3
%
Income from Operations
$
877
$
1,049
Operating margin, %
27.3
%
29.9
%
Diagnostics and Genomics Group
FY24
FY23
Revenue
$
1,651
$
1,755
Gross Margin, %
52.4
%
53.4
%
Income from Operations
$
320
$
363
Operating margin, %
19.4
%
20.7
%
Agilent CrossLab Group
FY24
FY23
Revenue
$
1,644
$
1,568
Gross Margin, %
50.9
%
49.3
%
Income from Operations
$
524
$
463
Operating margin, %
31.9
%
29.5
%
Income from operations reflect the results of our reportable
segments under Agilent's management reporting system which are not
necessarily in conformity with GAAP financial measures. Income from
operations of our reporting segments exclude, among other things,
charges related to restructuring and other related costs, asset
impairments, amortization of intangibles, transformational
initiatives and acquisition and integration costs. Readers
are reminded that non-GAAP numbers are merely a supplement to, and
not a replacement for, GAAP financial measures. They should be read
in conjunction with the GAAP financial measures. It should be noted
as well that our non-GAAP information may be different from the
non-GAAP information provided by other companies. The
preliminary segment information is estimated based on our current
information. Page 5
AGILENT TECHNOLOGIES,
INC.
RECONCILIATIONS OF REVENUE BY
SEGMENT
EXCLUDING ACQUISITIONS,
DIVESTITURES AND THE IMPACT OF CURRENCY ADJUSTMENTS (CORE)
(in millions)
(Unaudited)
PRELIMINARY
Year-over-Year
GAAP
Year-over-Year
GAAP Revenue by Segment
Q4'24
Q4'23
% Change
Life Sciences and Applied Markets Group
$
833
$
839
(1%)
Diagnostics and Genomics Group
442
445
(1%)
Agilent CrossLab Group
426
404
5%
Agilent
$
1,701
$
1,688
1%
Non-GAAP (excluding
Acquisitions & Divestitures)
Year-over-Year at Constant
Currency (a)
Year-over-Year
Year-over-Year
Percentage Point Impact from
Currency
Current Quarter Currency
Impact (b)
Non GAAP Revenue by Segment
Q4'24
Q4'23
% Change
% Change
Life Sciences and Applied Markets Group
$
833
$
839
(1%)
(1%)
—
$
5
Diagnostics and Genomics Group
432
445
(3%)
(3%)
—
3
Agilent CrossLab Group
426
404
5%
5%
—
1
Agilent (Core)
$
1,691
$
1,688
—
—
—
$
9
We compare the year-over-year change in revenue excluding
the effect of recent acquisitions and divestitures and foreign
currency rate fluctuations to assess the performance of our
underlying business. (a) The constant currency
year-over-year growth percentage is calculated by recalculating all
periods in the comparison period at the foreign currency exchange
rates used for accounting during the last month of the current
quarter and then using those revised values to calculate the
year-over-year percentage change. (b) The dollar impact from
the current quarter currency impact is equal to the total
year-over-year dollar change less the constant currency
year-over-year change. The preliminary reconciliation of
GAAP revenue adjusted for recent acquisitions and divestitures and
impact of currency is estimated based on our current information.
Page 6
AGILENT TECHNOLOGIES,
INC.
RECONCILIATIONS OF REVENUE BY
SEGMENT
EXCLUDING ACQUISITIONS,
DIVESTITURES AND THE IMPACT OF CURRENCY ADJUSTMENTS (CORE)
(in millions)
(Unaudited)
PRELIMINARY
Year-over-Year
GAAP
Year-over-Year
GAAP Revenue by Segment
FY24
FY23
% Change
Life Sciences and Applied Markets Group
$
3,215
$
3,510
(8%)
Diagnostics and Genomics Group
1,651
1,755
(6%)
Agilent CrossLab Group
1,644
1,568
5%
Agilent
$
6,510
$
6,833
(5%)
Non-GAAP (excluding
Acquisitions & Divestitures)
Year-over-Year at Constant
Currency (a)
Year-over-Year
Year-over-Year
Percentage Point Impact from
Currency
Current Quarter Currency
Impact (b)
Non GAAP Revenue by Segment
FY24
FY23
% Change
% Change
Life Sciences and Applied Markets Group
$
3,215
$
3,510
(8%)
(8%)
—
$
(5)
Diagnostics and Genomics Group
1,641
1,748
(6%)
(6%)
—
2
Agilent CrossLab Group
1,644
1,568
5%
5%
—
(4)
Agilent (Core)
$
6,500
$
6,826
(5%)
(5%)
—
$
(7)
We compare the year-over-year change in
revenue excluding the effect of recent acquisitions and
divestitures and foreign currency rate fluctuations to assess the
performance of our underlying business. (a) The constant
currency year-over-year growth percentage is calculated by
recalculating all periods in the comparison period at the foreign
currency exchange rates used for accounting during the last month
of the current quarter and then using those revised values to
calculate the year-over-year percentage change. (b) The
dollar impact from the current year currency impact is equal to the
total year-over-year dollar change less the constant currency
year-over-year change. The preliminary reconciliation of
GAAP revenue adjusted for recent acquisitions and divestitures and
impact of currency is estimated based on our current information.
Page 7
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241125015693/en/
Investor Contact: Parmeet Ahuja +1 408-345-8948
parmeet_ahuja@agilent.com Media Contact: Sarah Litton +1
408-361-0405 Sarah.litton@agilent.com
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