Agilent Technologies Inc
Q3 2026 Earnings
Non-GAAP EPS of $1.62 includes a $0.06 net benefit from tariff refunds ($17 million pre-tax). Non-GAAP adjustments exclude $15M restructuring costs, $21M intangible amortization, $37M transformational initiatives, $7M acquisition and integration costs, $5M net loss on equity securities, $8M other, and $4M tax adjustment.
Market Reaction
Did A Beat Earnings? Q3 2026 Results
Agilent Technologies delivered a notably strong fiscal third quarter, with adjusted non-GAAP EPS of $1.62 beating the $1.49 consensus by 9.01% and revenue of $1.88 billion growing 8.1% year-over-year to clear analyst expectations by roughly 2%. The headline driver was broad-based margin expansion, with company-wide non-GAAP operating margin reaching 28.3%, up 320 basis points from a year ago, aided in part by a $17 million net tariff refund benefit worth $0.06 per share. Investors had been cautious heading into the print, with some analyst previews focused on whether Agilent could protect margins amid tariff-driven cost pressures; the quarter answered that question decisively. The Life Sciences and Diagnostics Markets Group was the standout, posting 11% revenue growth and a nearly 600 basis point operating margin improvement to 23.5%. Encouraged by the results, management raised full-year fiscal 2026 guidance, now targeting revenue of $7.49 billion to $7.51 billion and non-GAAP EPS of $6.18 to $6.21, with fourth-quarter EPS guided at $1.71 to $1.74 excluding any further tariff refund benefits.
- Sustained momentum from the Ignite Operating System driving margin expansion
- Improving end markets and stronger demand in key regions
- Life Sciences and Diagnostics segment led growth with 11% reported revenue increase and 590 bps operating margin expansion YoY
- Non-GAAP operating margin expanded 320 basis points year-over-year to 28.3%, including ~110 bps from tariff refunds
- Cost of products and services declined year-over-year despite revenue growth, indicating favorable mix and efficiency gains
“Agilent's exceptional third-quarter performance reflects the sustained momentum created by our strategy, our execution discipline, and the compounding impact of the Ignite Operating System. We are seeing improving end markets, stronger demand in key regions, and excellent customer response to our innovative product launches. All of this gives us confidence in our increased outlook and our ability to sustainably outperform our end markets.”
Agilent Technologies CEO, on the earnings call
Forward Guidance & Outlook
Agilent raised its full fiscal year 2026 guidance: revenue now expected at $7.49 billion to $7.51 billion (up 7.8% to 8.1% reported, 5.8% to 6.0% core), an increase of 65 basis points at the midpoint versus prior guidance. Non-GAAP full-year EPS is now expected at $6.18 to $6.21, an increase of $0.15 at the midpoint (including $0.06 net benefit from tariff refunds in Q3). Non-GAAP operating margin expansion for FY26 is now expected to exceed 130 basis points at the midpoint of core revenue growth guidance (including ~30 bps from tariff refunds). Q4 2026 revenue is expected at $1.98 billion to $2.0 billion (growth of 6.4% to 7.4% reported, 5.2% to 6.2% core) with non-GAAP EPS of $1.71 to $1.74, excluding any future tariff refund benefits.
A YoY Financials
A Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.