Agilent Technologies Provides Update on COVID-19 Impact; Sets Second-Quarter Earnings Call for May 21
April 14 2020 - 8:00AM
Business Wire
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.
About Agilent Technologies
Agilent Technologies Inc. (NYSE: A) is a global leader in life
sciences, diagnostics and applied chemical markets. Now in its 20th
year as an independent company delivering insight and innovation
toward improving the quality of life, Agilent instruments,
software, services, solutions and people provide trusted answers to
customers' most challenging questions. The company generated
revenue of $5.16 billion in fiscal 2019 and employs 16,300 people
worldwide. Information about Agilent is available at
www.agilent.com. To receive the latest Agilent news, subscribe to
the Agilent Newsroom. Follow Agilent on LinkedIn, Twitter, and
Facebook.
Forward-Looking Statements
This news release contains forward-looking statements as defined
in the Securities Exchange Act of 1934 and is subject to the safe
harbors created therein. The forward-looking statements contained
herein include, but are not limited to, information regarding the
impact of COVID-19 and Agilent’s long-term growth prospects. These
forward-looking statements involve risks and uncertainties that
could cause Agilent’s results to differ materially from
management’s current expectations. Such risks and uncertainties
include, but are not limited to, unforeseen changes in the strength
of Agilent’s customers’ businesses; unforeseen changes in the
demand for current and new products, technologies, and services;
unforeseen changes in the currency markets; customer purchasing
decisions and timing, and the risk that Agilent is not able to
realize the savings expected from integration and restructuring
activities. In addition, other risks that Agilent faces in running
its operations include the ability to execute successfully through
business cycles; the ability to meet and achieve the benefits of
its cost-reduction goals and otherwise successfully adapt its cost
structures to continuing changes in business conditions; ongoing
competitive, pricing and gross-margin pressures; the risk that its
cost-cutting initiatives will impair its ability to develop
products and remain competitive and to operate effectively; the
impact of geopolitical uncertainties and global economic conditions
on its operations, its markets and its ability to conduct business;
the ability to improve asset performance to adapt to changes in
demand; the ability of its supply chain to adapt to changes in
demand; the ability to successfully introduce new products at the
right time, price and mix; the ability of Agilent to successfully
integrate recent acquisitions; the ability of Agilent to
successfully comply with certain complex regulations; and other
risks detailed in Agilent’s filings with the Securities and
Exchange Commission, including its annual report on Form 10-Q for
the quarter ended January 31, 2020. Forward-looking statements are
based on the beliefs and assumptions of Agilent’s management and on
currently available information. Agilent undertakes no
responsibility to publicly update or revise any forward-looking
statement.
(1) Core revenue growth excludes the impact of currency and
acquisitions and divestitures within the past 12 months.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200414005226/en/
INVESTOR CONTACT: Ankur Dhingra +1 408 553 4341
ankur_dhingra@agilent.com MEDIA CONTACT: Tom Beermann + 1
408 553 2914 tom.beermann@agilent.com
Agilent Technologies (NYSE:A)
Historical Stock Chart
From Mar 2024 to Apr 2024
Agilent Technologies (NYSE:A)
Historical Stock Chart
From Apr 2023 to Apr 2024