Agilent Technologies Posts Lower 3Q Profit, Raises Guidance

By Dave Sebastian

Agilent Technologies Inc. (A) posted lower third-quarter profit as expenses weighed on the company's bottom line.

The California manufacturer reported a net income of $191 million, or 60 cents a share, compared with $236 million, or 73 cents a share, in the prior year. Analysts polled by FactSet were expecting 66 cents a share.

On an adjusted basis, earnings were 76 cents a share, compared with 67 cents in the year before. Analysts expected 72 cents a share.

Revenue rose to $1.27 billion from $1.2 billion a year earlier. Analysts expected $1.24 billion.

Expenses rose to $1.05 billion from $982 million in the prior year.

Agilent raised its revenue forecast for the current fiscal year to between $5.11 billion and $5.13 billion from its previous guidance of between $5.09 billion and $5.13 billion. It said it expects adjusted earnings between $3.07 and $3.09 a share for the fiscal year, up from its previous guidance of $3.03 to $3.07 a share.

For the fourth quarter, the company said it expects a revenue of $1.31 billion to $1.33 billion and adjusted earnings between 84 cents and 86 cents a share.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

August 14, 2019 16:36 ET (20:36 GMT)

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