Agilent Authorizes $2 Billion Share Repurchase Program
January 09 2023 - 04:30PM
Business Wire
Agilent Technologies Inc. (NYSE: A) today announced that its
board of directors has approved a new share repurchase program. The
2023 program authorizes the purchase of up to $2 billion of the
company’s common stock.
“Agilent is committed to balanced capital deployment that drives
growth and helps deliver strong returns for shareholders,” said Bob
McMahon, Agilent chief financial officer. “This share repurchase
program is a key element of that strategy.”
The new program will begin March 1. Upon commencement, the new
repurchase program replaces Agilent’s existing stock repurchase
program, which authorized the repurchase of shares to reduce or
eliminate share dilution from equity programs.
The number of shares to be repurchased and the timing of any
repurchases will depend on factors such as the stock price,
economic and market conditions, and corporate and regulatory
requirements. The stock repurchase program may be suspended or
discontinued at any time.
About Agilent Technologies
Agilent Technologies Inc. (NYSE: A) is a global leader in the
life sciences, diagnostics, and applied chemical markets,
delivering insight and innovation that advance the quality of life.
Agilent’s full range of solutions includes instruments, software,
services, and expertise that provide trusted answers to our
customers' most challenging questions. The company generated
revenue of $6.85 billion in fiscal 2022 and employs 18,000 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 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, statements regarding the
company’s share repurchase programs. 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; the adverse impacts of and risks posed
by the COVID-19 pandemic; and other risks detailed in Agilent’s
filings with the Securities and Exchange Commission, including its
annual report on Form 10-K for the fiscal quarter ended October 31,
2022. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230109005593/en/
Media Contact: Sarah Litton +1 669 255 7696
sarah.litton@agilent.com
Investor Contact: Parmeet Ahuja +1 408-345-8948
parmeet_ahuja@agilent.com
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