Agilent Technologies Inc. (NYSE: A) reported its fiscal second-quarter financial results after the markets closed on Monday. The company posted $0.44 in earnings per share (EPS) on $1.02 billion in revenue, which compared to consensus estimates of $0.39 in EPS on revenue of $981.8 million.
The company’s operating margin was 19.4% for the second quarter, up 11% from over a year ago.
During this quarter, revenue of $495 million from Agilent’s Life Sciences and Applied Markets Group (LSAG) increased 5% from the same period last year (up 8% on a core basis), led by strong growth in pharma, food and environmental markets. LSAG’s second-quarter operating margin was 19%.
In terms of guidance, the company expects to have EPS in the range of $0.45 to $0.47 and revenues between $1.03 billion and $1.05 billion. Consensus estimates predict $0.47 in EPS on $1.04 billion in revenue.
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On the books, Agilent’s cash, cash equivalents and short-term restricted cash and cash equivalents totaled $2.14 billion at the end of the quarter, compared to $2.25 billion at the end of the previous fiscal year.
Mike McMullen, president and CEO of Agilent, commented on earnings:
Agilent delivered another strong quarter. Revenue and earnings per share exceeded our guidance range. We saw broad growth across most of our portfolio and end markets. …Â We continue to execute on our strategy to drive sustainable growth, expand operating margins and provide long-term value to our shareholders.
Shares of Agilent Technologies were traded up 5% at $45.10 early Tuesday, with a consensus analyst price target of $45.86 and a 52-week trading range of $33.12 to $43.20.
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