Agilent Technologies, Inc. (NYSE: A) today announced that due to the expanded and evolving nature of the COVID-19 pandemic and resulting effects on customer operations, it is withdrawing its second-quarter and fiscal year 2020 guidance provided on Feb. 18.
While Agilent’s fiscal second-quarter revenues grew a reported 2% (and 1% core1) through March, the company saw a significant disruption in business activity in late March, particularly in the U.S and Europe as customers closed or restricted access to their facilities in an effort to slow the spread of the virus.
While Agilent is implementing a number of measures to reduce expenses, due to the global scope and uncertain duration and impact of the COVID-19 pandemic, Agilent cannot reasonably estimate the pace of recovery in its end markets, nor the related impact on financial results for the remainder of the fiscal year.
Agilent’s role providing customers with trusted answers in the life sciences, diagnostics and applied chemical markets is as important in the current environment as it has ever been. The company remains focused on the safety of its employees and serving customer needs, even in the face of unprecedented challenges posed by COVID-19. Agilent’s financial position and long-term growth prospects remain strong.
Agilent will provide more details during the release of its second-quarter fiscal year 2020 financial results after the close of financial markets May 21. The company will also host a live webcast of its investor call in listen-only mode. Details are included below:
Date: Thursday, May 21, 2020
Time: 1:30 p.m. (Pacific Time)
Web access: http://www.investor.agilent.com
To listen to the call online, select the “Q2 2020 Agilent Technologies Inc. Earnings Conference Call” link in the “News & Events -- Calendar of Events” portion of the Investor Relations section of the Agilent website. The webcast will remain on the company site for 90 days.