Agilent Technologies Inc. (NYSE: A) today reported revenue of $1.26 billion for the third quarter ended July 31, 2020, a decline of 1% compared to the third quarter of 2019 and down 3.1% on a core(1) basis.
Third-quarter GAAP net income was $199 million, or 64 cents per share. This compares with $191 million, or 60 cents per share, in the third quarter of fiscal year 2019. Non-GAAP(2) net income was $243 million, or 78 cents per share, during the quarter compared with $240 million, or 76 cents per share, during the third quarter a year ago.
“Agilent’s third-quarter results once again highlight the strength and resilience of the Agilent team and of our business,” said Mike McMullen, Agilent president, and CEO. “Under challenging conditions created by the global COVID-19 pandemic, Agilent again delivered strong results. While the world’s economies are expected to recover at different rates in the fourth quarter, we remain focused on growth and investing for the future, while effectively managing expenses.”
Life Sciences and Applied Markets Group
Third-quarter revenue of $557 million from Agilent’s Life Sciences and Applied Markets Group (LSAG) was up 2% year over year (down 4% on a core(1) basis). LSAG’s operating margin was 22.6%.
Agilent CrossLab Group
Third-quarter revenue of $463 million from the Agilent CrossLab Group (ACG) declined 1% year over year (up 1% on a core(1) basis). ACG’s operating margin was 28.4%.
Diagnostics and Genomics Group
Third-quarter revenue of $241 million from Agilent’s Diagnostics and Genomics Group (DGG) declined 8% year over year (down 8% on a core(1) basis). DGG’s operating margin was 17.2%.
Agilent’s management will present additional details regarding the company’s third-quarter 2020 financial results on a conference call with investors today at 1:30 p.m. PST. This event will be webcast live in listen-only mode. To listen to the webcast, select the “Q3 2020 Agilent Technologies Inc. Earnings Conference Call” link in the “News & Events -- Events” portion of the Investor Relations section of the Agilent website. The webcast will remain on the company site for 90 days.