Hot Tech stock to watch: Agilent Technologies Inc (NYSE: A)

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Agilent Technologies Inc (NYSE: A) stock rose over 0.6% on 19th Feb, 2020 (Source: Google finance) after the company posted in line earnings result for the first quarter of 2020. Despite Coronavirus outbreak in China, the company has restarted the in-country production activities and they are shipping product to customers within China and internationally though at a reduced rate on the business. Further, the company saw growth across all of our six end market segments

Agilent in the first quarter of 2020 has reported the adjusted earnings per share of 81 cents, which is in line with the analysts’ estimates for the adjusted earnings per share of 81 cents. The company had reported the adjusted revenue growth of 5.7 percent to $1.36 billion in the first quarter of 2020, beating the analysts’ estimates for revenue of $1.35 billion. The core growth was 2.4% in the first quarter. Gross margin was 55.7%,which contracted by 120 basis points versus the prior year.

Moreover, during the first quarter, pharma posted growth of 3%. There was double-digit growth in DGG and high single-digit growth in ACG, which has offset a mid single-digit decline for LSAG. Within pharma, the biopharma or large molecule segment posted growth in high single-digits and on a geographic basis, the pharma business experienced high single-digit growth in the Americas and mid single-digit growth in Europe. This was partially offset by a mid single-digit fall in China, which was mainly related with the timing of the Lunar New Year and to a lesser extent and the execution of the 4+7 program. During the quarter, environmental and forensics business grew 4% against a very tough compare last year of 10%. In diagnostics and clinical, revenue posted growth of 3% against a strong 11% compare last year

For the second quarter of 2020, the company expects revenue to be in the range of $1.28-1.32 billion and adjusted earnings is expected to be in the range of $0.72-0.76 per share, while the analysts expect EPS to be of $0.79 on revenue of $1.34 billion. The projected impact of Coronavirus in China is of about $10 million revenue deferred into the second quarter, mostly in Life Sciences and Applied Markets Group.

For the full year 2020, the company expects revenue to be in the range of $5.50-5.55 billion and adjusted earnings are expected to be in the range of $3.38-3.43 per share. The consensus estimates for EPS is of $3.42 on revenue of $5.54 billion.

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