Agilent Technologies (NYSE:A) Inc announced after Tuesday’s close that its third-quarter 2023 revenue slipped 2.7% year over year to $1.67 billion but edged past the consensus estimate of $1.66 billion.
The analytical and clinical laboratory technologies provider also recorded better-than-expected earnings per share (EPS) of $1.43, exceeding the consensus forecast by $0.07.
“The Agilent team executed well in challenging macroeconomic market conditions during the quarter, particularly in China,” Agilent Technologies (NYSE:A) CEO Mike McMullen said in a statement.
“Looking forward, we believe the current market environment is transitory, and are confident in our team and the long-term growth prospects of our end markets.”
That said, Agilent sees full-year 2023 revenue in the range of $6.80 billion to $6.85 billion, which falls short of the $6.97 billion analyst consensus.
And, the company’s EPS for the year of $5.40 to $5.43 is also less than expectations of $5.50.
Shares of Agilent Technologies eased more than 2% in Tuesday’s after-hours session and have fallen 16% year to date.
Contact Sean at sean@proactiveinvestors.com