Agilent Technologies (NYSE:A) Inc after Monday’s close announced fourth quarter 2023 financial results that exceeded expectations on both the top and bottom lines.
The analytical and clinical laboratory technologies provider’s adjusted earnings per share (EPS) for the period declined 10% year over year to $1.38, while its revenue fell 9% to $1.69 billion.
Analysts expected Agilent to report 4Q adjusted EPS of $1.34 on $1.67 billion in revenue, according to Zacks Equity Research.
Agilent shares rose as much as 4% in Monday’s after-hours session.
"The Agilent team continued its strong execution in Q4 and delivered leveraged earnings in 2023 during a challenging year for the industry," Agilent Technologies (NYSE:A) CEO Mike McMullen said in a statement.
"As we look ahead to 2024, we anticipate a slow but steady recovery," he added.
For the full year 2024, the company sees its adjusted EPS in a range of $5.44 to $5.55 and revenue of between $6.71 billion to $6.81 billion.
Shares of Agilent Technologies have fallen 24% year to date as of Monday’s closing price.
Contact Sean at sean@proactiveinvestors.com