Agilent Technologies Inc (NYSE:A) Increases Dividend

Agilent Technologies Inc (NYSE:A), a global leader in the life sciences, diagnostics, and applied chemical markets, delivering insight and innovation that advance the quality of life, stock rose 6.89% (As on November 22, 12:55:08 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the fourth quarter of FY 22. Non-GAAP net income was $456 million during the quarter, compared with $368 million during the fourth quarter a year ago. The Agilent Life Sciences and Applied Markets Group (LSAG) posted fourth-quarter revenue of $1.12 billion, representing year-over-year reported growth of 16% (up 22% on a core basis). LSAG’s operating margin for the quarter was 32.7%. The Agilent CrossLab Group (ACG) posted fourth-quarter revenue of $381 million, representing year-over-year reported growth of 7% (up 14% on a core basis). ACG’s operating margin for the quarter was 27.4%. The Diagnostics and Genomics Group (DGG) generated fourth-quarter revenue of $352 million, up a reported 3% year over year (up 8% on a core basis). DGG posted operating margins of 19.5%.

A in the fourth quarter of FY 22 has reported the adjusted earnings per share of $1.53, beating the analysts’ estimates for the adjusted earnings per share of $1.39, according to Zacks Investment Research. The company had reported the adjusted revenue growth of 11 percent to $1.85 billion in the fourth quarter of FY 22, beating the analysts’ estimates for revenue of $1.77 billion.

Additionally, the company has increased its quarterly dividend to 22.5 cents per share of common stock, reflecting a 7% increase over the previous quarter. The quarterly dividend will be paid on January 25, 2023, to all shareholders of record as of the close of business on January 3, 2023.

For the first quarter ending in January, Agilent expects its per-share earnings to range from $1.29 to $1.31. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.39. The company expects revenue in the range of $1.68 billion to $1.7 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $1.77 billion.

Agilent expects full-year earnings in the range of $5.61 to $5.69 per share, with revenue ranging from $6.9 billion to $7 billion.

On the other hand, the company has recently announced the release of the AssayMAP Bravo Protein Sample Prep Workbench 4.0 software. This release adds 21 CFR Part 11 compliance-enabling features that allow AssayMAP Bravo-based automated sample preparation in workflows across the biopharma drug development process.

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