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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): November 25, 2024
 
AGILENT TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
 
Delaware001-1540577-0518772
(State or other jurisdiction(Commission(IRS Employer
of incorporation)File Number)Identification No.)
 
5301 Stevens Creek Boulevard, Santa Clara, CA 95051
(Address of Principal Executive Offices) (Zip Code)
 
Registrant’s telephone number, including area code (800) 227-9770
 
(Former name or former address, if changed since last report.)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
TITLE OF EACH CLASSTRADING SYMBOL(S)NAME OF EACH EXCHANGE ON WHICH REGISTERED
COMMON STOCK, $0.01 PAR VALUEANew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ 


If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ 




Item 2.02.              Results of Operations and Financial Condition.
 
The information in this Item 2.02 of Form 8-K and Exhibit 99.1 attached hereto is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.
 
On November 25, 2024, Agilent Technologies, Inc. (the “Company”) issued its press release announcing financial results for the fourth fiscal quarter ended October 31, 2024.  A copy of this press release is attached as Exhibit 99.1.
 
The Company provides non-GAAP financial information in order to provide meaningful supplemental information regarding its operational performance and to enhance its investors’ overall understanding of its core current financial performance and its prospects for the future.  The Company believes that its investors benefit from seeing its results “through the eyes” of management in addition to the GAAP presentation.  Management measures segment and enterprise performance using measures such as those that are disclosed in this release.  This information facilitates management’s internal comparisons to the Company’s historical operating results and comparisons to competitors’ operating results.  Non-GAAP information allows for greater transparency to supplemental information used by management in its financial and operations decision making.  Historically, the Company has reported similar non-GAAP information to its investors and believes that the inclusion of comparative numbers provides consistency in its financial reporting.
 
This information is not in accordance with, or an alternative for, generally accepted accounting principles in the United States.  It excludes items, such as restructuring and amortization, that may have a material effect on the Company’s expenses and earnings per share calculated in accordance with GAAP.  Management monitors these items to ensure that expenses are in line with expectations and that the Company's GAAP results are correctly stated but does not use them to measure the ongoing operating performance of the Company.  The non-GAAP information the Company provides may be different from the non-GAAP information provided by other companies.
 
Additional explanation of non-GAAP information is provided in Exhibit 99.1.

Item 9.01.              Financial Statements and Exhibits.
 
(d) Exhibits
 
The following is furnished as an exhibit to this report and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended:
 
Exhibit No. Description
 Press release announcing financial results for the fourth fiscal quarter ended October 31, 2024
104 Cover page interactive data file (embedded within the Inline XBRL document)


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SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
 AGILENT TECHNOLOGIES, INC.
  
  
 By:/s/ P. Diana Chiu
 Name:P. Diana Chiu
 Title:Vice President, Assistant General Counsel & Assistant Secretary
  
  
  
Date: November 25, 2024 






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Exhibit 99.1


Agilent Reports Fourth-Quarter Fiscal Year 2024 Financial Results
Delivers solid results in Q4; initiates FY25 guidance


Fourth-quarter fiscal year 2024

•Revenue of $1.70 billion, up 0.8% reported and down 0.3% core(1) from the fourth quarter of 2023.
•GAAP net income of $351 million; earnings per share (EPS) of $1.22, down 25% from the fourth quarter of 2023.
•Non-GAAP(2) net income of $418 million; EPS of $1.46, up 6% from the fourth quarter of 2023.

Full fiscal year 2024
•Revenue of $6.51 billion, down 4.7% on a reported basis and down 4.7% core(1) year-over-year.
•GAAP net income of $1.289 billion; EPS of $4.43, up 6% year-over-year.
•Non-GAAP(2) net income of $1.539 billion; EPS of $5.29, down 3% year-over-year.

Fiscal year 2025 and first-quarter outlook

•Fiscal year revenue is expected in the range of $6.790 billion to $6.870 billion, representing a range of up 4.3% to 5.5% on a reported basis and 2.5% to 3.5% core(1). Non-GAAP(3) earnings are expected in the range of $5.54 to $5.61 per share.
•Fiscal first-quarter revenue guidance is expected in the range of $1.650 billion to $1.680 billion, a decline of 0.5% to an increase of 1.3% reported and a decline of 2.0% to 0.2% core(1). Non-GAAP(3) earnings are expected in the range of $1.25 to $1.28 per share.

SANTA CLARA, Calif., Nov. 25, 2024 — Agilent Technologies Inc. (NYSE: A) today reported revenue of $1.70 billion for the fourth quarter ended October 31, 2024, an increase of 0.8% reported and a decline of 0.3% core(1) compared to the fourth quarter of 2023.
Fourth-quarter GAAP net income was $351 million, or $1.22 per share. This compares with $475 million, or $1.62 per share, in the fourth quarter of fiscal year 2023. Non-GAAP(2) net income was $418 million, or $1.46 per share during the quarter, compared with $404 million or $1.38 per share during the fourth quarter a year ago.
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“The Agilent team again executed well and delivered solid results in the fourth quarter as the markets continued to recover,” said Agilent President and CEO Padraig McDonnell. “Our new market-based, customer-first strategy combined with our transformation – which includes the new organizational structure announced today – will position us to capture even more growth opportunities as the market improves. I look forward to sharing more about these exciting developments during our Analyst and Investor Day in December.”

Financial Highlights

In the first quarter of 2024, Agilent implemented certain changes to its segment reporting structure. Prior period segment information has been recast to reflect these changes. These changes have no impact on Agilent’s consolidated financial statements.

Life Sciences and Applied Markets Group
Agilent’s Life Sciences and Applied Markets Group (LSAG) reported fourth-quarter revenue of $833 million, a decline of 1% reported and 1% core(1) year-over-year. LSAG’s operating margin for the quarter was 28.0%. Full-year revenue of $3.22 billion declined 8% reported and 8% core(1) over last year. LSAG’s operating margin for the year was 27.3%.

Agilent CrossLab Group
The Agilent CrossLab Group (ACG) reported fourth-quarter revenue of $426 million, an increase of 5% reported and 5% core(1) year-over-year. ACG’s operating margin for the quarter was 32.6%. Full-year revenue of $1.64 billion increased 5% reported and 5% core(1) over last year. ACG’s operating margin for the year was 31.9%.

Diagnostics and Genomics Group
The Diagnostics and Genomics Group (DGG) reported fourth-quarter revenue of $442 million, a decrease of 1% reported and 3% core(1) year-over-year. DGG’s operating margin for the quarter was 21.2%. Full-year revenue of $1.65 billion declined 6% reported and 6% core(1) over last year. DGG’s operating margin for the year was 19.4%.

Full Year 2025 and First-Quarter Outlook
Full-year revenue outlook is expected in the range of $6.790 billion to $6.870 billion, representing a range of up 4.3% to 5.5% reported and 2.5% to 3.5% core(1). Non-GAAP(3) EPS is expected in the range of $5.54 to $5.61 per share.
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The outlook for first-quarter revenue is expected to be in the range of $1.650 billion to $1.680 billion, a decline of 0.5% to an increase of 1.3% reported and a decline of 2.0% to 0.2% core(1). Non-GAAP EPS(3) is expected in the range of $1.25 to $1.28 per share.
The outlook is based on forecasted currency exchange rates.

Conference Call
Agilent’s management will present additional details regarding the company’s fourth-quarter 2024 financial results on a conference call with investors today at 1:30 p.m. PT. This event will be broadcast live online in listen-only mode. To listen to the webcast, select the “Q4 2024 Agilent Technologies Inc. Earnings Conference Call” link on the Agilent Investor Relations website. The replay of the call will remain on the company site for 90 days.

Organizational Structure Announcement
Agilent today also announced a new organizational structure, an important step in the company’s transformation to become nimbler and more customer centric. Read the announcement. Agilent will share more information about the company’s evolved market-focused strategy and transformation at its Investor Day in New York City on Dec. 17, 2024. See details here.

About Agilent Technologies
Agilent Technologies Inc. (NYSE: A) is a global leader in analytical and clinical laboratory technologies, delivering insights and innovation that help our customers bring great science to 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 $6.51 billion in fiscal year 2024 and employs approximately 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, information regarding Agilent’s growth prospects, business, financial results, revenue, non-GAAP earnings guidance for Q1 and fiscal year 2025, and the effects of its new organizational structure, operational transformation and market-focused strategy. 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
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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 operational transformation, market-focused strategy and 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 quarterly report on Form 10-Q for the fiscal quarter ended July 31, 2024. 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. Core revenue is a non-GAAP measure. Reconciliations between GAAP revenue and core revenue for Q4 fiscal year 2024 and full fiscal year 2024 are set forth on pages 6 and 7 of the attached tables along with additional information regarding the use of this non-GAAP measure. Core revenue growth rate as projected for Q1 fiscal year 2025 and full fiscal year 2025 excludes the impact of currency and acquisitions and divestitures within the past 12 months. Most of the excluded amounts pertain to events that have not yet occurred and are not currently possible to estimate with a reasonable degree of accuracy and could differ materially. Therefore, no reconciliation to GAAP amounts has been provided for the projection.

(2) Non-GAAP net income and non-GAAP earnings per share primarily exclude the impacts of restructuring and other related costs, asset impairments, intangibles amortization, transformational initiatives, acquisition and integration costs and net (gain) loss on equity securities. Agilent also excludes any tax benefits or expenses that are not directly related to ongoing operations, and which are either isolated or are not expected to occur again with any regularity or predictability. A reconciliation between non-GAAP net income and GAAP net income is set forth on page 4 of the attached tables along with additional information regarding the use of this non-GAAP measure.

(3) Non-GAAP earnings per share as projected for Q1 fiscal year 2025 and full fiscal year 2025 exclude primarily the estimated impacts of non-cash intangibles amortization, transformational initiatives, and acquisition and integration costs. Agilent also excludes any tax benefits or expenses that are not directly related to ongoing operations, and which are either isolated or are not expected to occur again with any regularity or predictability. Most of these excluded amounts pertain to events that have not yet occurred and are not currently possible to estimate with a reasonable degree of accuracy and could differ materially. Therefore, no reconciliation to GAAP amounts has been provided. Future amortization of intangibles is expected to be approximately $28 million per quarter.

# # # # #
Investor Contact:
Parmeet Ahuja
+1 408-345-8948
parmeet_ahuja@agilent.com

Media Contact:
Sarah Litton
+1 408-361-0405
Sarah.litton@agilent.com
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AGILENT TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
(In millions, except per share data)
(Unaudited)
PRELIMINARY
 
Three Months EndedYears Ended
October 31,October 31,
 2024202320242023
Net revenue$1,701 $1,688 $6,510 $6,833 
Costs and expenses:
Cost of products and services785 773 2,975 3,368 
Research and development111 114 479 481 
Selling, general and administrative397 393 1,568 1,634 
Total costs and expenses1,293 1,280 5,022 5,483 
Income from operations408 408 1,488 1,350 
Interest income24 17 80 51 
Interest expense(32)(22)(96)(95)
Other income (expense), net1 17 49 33 
Income before taxes401 420 1,521 1,339 
Provision for (benefit from) income taxes50 (55)232 99 
Net income$351 $475 $1,289 $1,240 
Net income per share:
Basic$1.23 $1.63 $4.44 $4.22 
Diluted$1.22 $1.62 $4.43 $4.19 
Weighted average shares used in computing net income per share:
Basic286292 290294 
Diluted287293 291296 




The preliminary income statement is estimated based on our current information.

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AGILENT TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED BALANCE SHEET
(In millions, except par value and share data)
(Unaudited)
PRELIMINARY
October 31,
2024		October 31,
2023
ASSETS 
Current assets: 
Cash and cash equivalents$1,329 $1,590 
Accounts receivable, net1,324 1,291 
Inventory972 1,031 
Other current assets334 274 
Total current assets3,959 4,186 
Property, plant and equipment, net1,778 1,270 
Goodwill4,477 3,960 
Other intangible assets, net547 475 
Long-term investments175 164 
Other assets910 708 
Total assets$11,846 $10,763 
LIABILITIES AND EQUITY 
Current liabilities:
Accounts payable$540 $418 
Employee compensation and benefits368 371 
Deferred revenue544 505 
Short-term debt45 — 
Other accrued liabilities398 309 
Total current liabilities1,895 1,603 
Long-term debt3,345 2,735 
Retirement and post-retirement benefits130 103 
Other long-term liabilities578 477 
Total liabilities5,948 4,918 
Total Equity: 
Stockholders' equity: 
Preferred stock; $0.01 par value; 125,000,000 shares authorized; none issued and outstanding— — 
Common stock; $0.01 par value; 2,000,000,000 shares authorized; 285,193,011 shares at October 31, 2024 and 292,123,241 shares at October 31, 2023, issued and outstanding3 3 
Additional paid-in-capital5,450 5,387 
Retained earnings750 782 
Accumulated other comprehensive loss(305)(327)
Total stockholders' equity5,898 5,845 
Total liabilities and stockholders' equity$11,846 $10,763 
 


The preliminary balance sheet is estimated based on our current information.
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AGILENT TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(In millions)
(Unaudited)
PRELIMINARY
Years Ended
October 31,October 31,
20242023
Cash flows from operating activities:
Net income$1,289 $1,240 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization257 271 
Share-based compensation129 111 
Deferred taxes(64)(56)
Excess and obsolete inventory related charges45 40 
Net (gain) loss on equity securities5 41 
Asset impairment charges8 277 
Change in fair value of contingent consideration— 1 
Net gain on divestiture of business— (43)
Other non-cash (income) expense, net(1)6 
Changes in assets and liabilities:
Accounts receivable, net7 132 
Inventory34 (33)
Accounts payable103 (171)
Employee compensation and benefits(12)(91)
Other assets and liabilities(49)47 
Net cash provided by operating activities (a)
1,751 1,772 
Cash flows from investing activities:
Payments to acquire property, plant and equipment(378)(298)
Proceeds from sale of equity securities— 5 
Payments to acquire equity securities(5)(8)
Proceeds from convertible note— 4 
Payments in exchange for convertible note(13)(12)
Proceeds from divestiture of business— 50 
Payments to acquire businesses and intangible assets, net of cash acquired(862)(51)
Net cash used in investing activities(1,258)(310)
Cash flows from financing activities:
Proceeds from issuance of common stock under employee stock plans77 67 
Payment of taxes related to net share settlement of equity awards (30)(54)
Payments for repurchase of common stock(1,150)(575)
Payment of excise taxes related to repurchases of common stock(3)— 
Payments of dividends(274)(265)
Proceeds from issuance of long-term debt1,197 — 
Repayments of long-term debt(180)— 
Payments of debt issuance costs(9)— 
Net proceeds from (repayment of) short-term debt(380)(35)
Payment for contingent consideration— (68)
Net cash used in financing activities(752)(930)
Effect of exchange rate movements(2)5 
Net increase (decrease) in cash, cash equivalents and restricted cash(261)537 
Cash, cash equivalents and restricted cash at beginning of period1,593 1,056 
Cash, cash equivalents and restricted cash at end of period$1,332 $1,593 
Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheet:
   Cash and cash equivalents$1,329 $1,590 
   Restricted cash, included in other assets3 3 
   Total cash, cash equivalents and restricted cash$1,332 $1,593 
(a) Cash payments included in operating activities:
Income tax payments, net of refunds received$314 $199 
Interest payments, net of capitalized interest$80 $89 

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The preliminary cash flow is estimated based on our current information.
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AGILENT TECHNOLOGIES, INC.
NON-GAAP NET INCOME AND DILUTED EPS RECONCILIATIONS
(In millions, except per share data)
(Unaudited)
PRELIMINARY 

Three Months EndedYears Ended
October 31,October 31,
2024202320242023
 Net IncomeDiluted
EPS		Net IncomeDiluted
EPS		Net IncomeDiluted
EPS		Net IncomeDiluted
EPS
GAAP net income$351 $1.22 $475 $1.62 $1,289 $4.43 $1,240 $4.19 
Non-GAAP adjustments:
Restructuring and other related costs5 0.02 46 0.16 76 0.26 46 0.16 
Asset impairments— — — — 8 0.03 277 0.94 
Intangible amortization25 0.09 27 0.09 102 0.35 139 0.47 
Transformational initiatives6 0.02 (6)(0.02)11 0.04 25 0.08 
Acquisition and integration costs7 0.02 4 0.01 12 0.04 16 0.05 
Business exit and divestiture costs (gain)— — (43)(0.15)— — (43)(0.15)
Net loss on equity securities12 0.04 27 0.09 10 0.03 42 0.14 
Pension settlement loss2 0.01 4 0.01 2 0.01 4 0.01 
Change in fair value of contingent consideration— — — — — — 1 — 
Other13 0.05 (11)(0.03)17 0.06 20 0.07 
Adjustment for taxes (a)
(3)(0.01)(119)(0.40)12 0.04 (158)(0.52)
Non-GAAP net income$418 $1.46 $404 $1.38 $1,539 $5.29 $1,609 $5.44 

(a) The adjustment for taxes excludes tax expense (benefits) that management believes are not directly related to on-going operations and which are either isolated, temporary or cannot be expected to occur again with any regularity or predictability such as the realized gain/loss due to sale of a business, windfall benefits on stock compensation, and the impact of R&D capitalization under section 174 of the Tax Cuts and Jobs Act of 2017. For the three months ended October 31, 2024, management used a non-GAAP effective tax rate of 11.25%. For the fiscal year ended October 31, 2024, management used a non-GAAP effective tax rate of 12.50%. For the three months and fiscal year ended October 31, 2023, management used a non-GAAP effective tax rate of 13.75%.

We provide non-GAAP net income and non-GAAP net income per share amounts in order to provide meaningful supplemental information regarding our operational performance and our prospects for the future. These supplemental measures exclude, among other things, charges related to restructuring and other related costs, asset impairments, amortization of intangibles, transformational initiatives, acquisition and integration costs, business exit and divestiture costs (gain), net (gain) loss on equity securities, pension settlement loss and change in fair value of contingent consideration.

Restructuring and other related costs include incremental expenses incurred in the period associated with restructuring programs, usually aimed at changes in business and/or cost structure. Such costs may include one-time termination benefits, facility-related costs and contract termination fees.

Asset impairments include assets that have been written down to their fair value.

Transformational initiatives include expenses associated with targeted cost reduction activities such as manufacturing transfers including costs to move manufacturing, site consolidations, legal entity and other business reorganizations, insourcing or outsourcing of activities. Such costs may include move and relocation costs, one-time termination benefits and other one-time reorganization costs. Included in this category are also expenses associated with company programs to transform our product lifecycle management (PLM) system and human resources and financial systems.

Acquisition and integration costs include all incremental expenses incurred to effect a business combination. Such acquisition costs may include advisory, legal, tax, accounting, valuation, and other professional or consulting fees. Such integration costs may include expenses directly related to integration of business and facility operations, the transfer of assets and intellectual property, information technology systems and infrastructure and other employee-related costs.

Business exit and divestiture costs (gain) include costs and gain associated with business divestitures.

Net (gain) loss on equity securities relates to the realized and unrealized mark-to-market adjustments for our marketable and non-marketable equity securities.

Pension settlement loss relates to the relief of the US Retirement Plan pension obligation due to increased lump sum payouts over a specified accounting threshold.

Change in fair value of contingent consideration represents changes in the fair value estimate of acquisition-related contingent consideration.

Other includes certain legal costs and settlements, special compliance costs, acceleration of stock-based compensation expense and other miscellaneous adjustments.

Our management uses non-GAAP measures to evaluate the performance of our core businesses, to estimate future core performance and to compensate employees. Since management finds this measure to be useful, we believe that our investors benefit from seeing our results “through the eyes” of management in addition to seeing our GAAP results. This information facilitates our management’s internal comparisons to our historical operating results as well as to the operating results of our competitors.

Our management recognizes that items such as amortization of intangibles can have a material impact on our cash flows and/or our net income. Our GAAP financial statements including our statement of cash flows portray those effects. Although we believe it is useful for investors to see core performance free of special items, investors should understand that the excluded items are actual expenses that may impact the cash available to us for other uses. To gain a complete picture of all effects on the company’s profit and loss from any and all events, management does (and investors should) rely upon the GAAP income statement. The non-GAAP numbers focus instead upon the core business of the company, which is only a subset, albeit a critical one, of the company’s performance.

Readers are reminded that non-GAAP numbers are merely a supplement to, and not a replacement for, GAAP financial measures. They should be read in conjunction with the GAAP financial measures. It should be noted as well that our non-GAAP information may be different from the non-GAAP information provided by other companies.

The preliminary non-GAAP net income and diluted EPS reconciliation is estimated based on our current information.
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AGILENT TECHNOLOGIES, INC.
SEGMENT INFORMATION
(In millions, except where noted)
(Unaudited)
PRELIMINARY

Quarter-over-Quarter

Life Sciences and Applied Markets Group
 Q4'24Q4'23
Revenue$833 $839 
Gross Margin, %59.1 %59.5 %
Income from Operations$233 $240 
Operating margin, %28.0 %28.6 %

Diagnostics and Genomics Group
 Q4'24Q4'23
Revenue$442 $445 
Gross Margin, %51.5 %53.7 %
Income from Operations$94 $101 
Operating margin, %21.2 %22.7 %
 
Agilent CrossLab Group
 Q4'24Q4'23
Revenue$426 $404 
Gross Margin, %50.9 %50.4 %
Income from Operations$139 $128 
Operating margin, %32.6 %31.7 %
Year-over-Year

Life Sciences and Applied Markets Group
 FY24FY23
Revenue$3,215 $3,510 
Gross Margin, %59.7 %60.3 %
Income from Operations$877 $1,049 
Operating margin, %27.3 %29.9 %

Diagnostics and Genomics Group
 FY24FY23
Revenue$1,651 $1,755 
Gross Margin, %52.4 %53.4 %
Income from Operations$320 $363 
Operating margin, %19.4 %20.7 %
 
Agilent CrossLab Group
 FY24FY23
Revenue$1,644 $1,568 
Gross Margin, %50.9 %49.3 %
Income from Operations$524 $463 
Operating margin, %31.9 %29.5 %

Income from operations reflect the results of our reportable segments under Agilent's management reporting system which are not necessarily in conformity with GAAP financial measures. Income from operations of our reporting segments exclude, among other things, charges related to restructuring and other related costs, asset impairments, amortization of intangibles, transformational initiatives and acquisition and integration costs.

Readers are reminded that non-GAAP numbers are merely a supplement to, and not a replacement for, GAAP financial measures. They should be read in conjunction with the GAAP financial measures. It should be noted as well that our non-GAAP information may be different from the non-GAAP information provided by other companies.

The preliminary segment information is estimated based on our current information.
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AGILENT TECHNOLOGIES, INC.
RECONCILIATION OF REVENUE BY SEGMENT
EXCLUDING ACQUISITIONS, DIVESTITURES AND THE IMPACT OF CURRENCY ADJUSTMENTS (CORE)
(In millions)
(Unaudited)
PRELIMINARY
 
Year-over-Year
GAAP
GAAP Revenue by SegmentQ4'24Q4'23Year-over-Year
% Change
Life Sciences and Applied Markets Group$833 $839 (1)%
Diagnostics and Genomics Group442 445 (1)%
Agilent CrossLab Group426 404 5%
Agilent$1,701 $1,688 1%
Non-GAAP
(excluding Acquisitions and Divestitures)
Year-over-Year at Constant Currency (a)
Non GAAP Revenue by SegmentQ4'24Q4'23Year-over-Year
% Change		Year-over-Year % ChangePercentage Point Impact from Currency
Current Quarter Currency Impact (b)
Life Sciences and Applied Markets Group $833 $839 (1)%(1)%—$5 
Diagnostics and Genomics Group432 445 (3)%(3)%—3 
Agilent CrossLab Group 426 404 5%5%—1 
Agilent (Core)$1,691 $1,688 ———$9 
 
.
We compare the year-over-year change in revenue excluding the effect of recent acquisitions and divestitures and foreign currency rate fluctuations to assess the performance of our underlying business.

(a) The constant currency year-over-year growth percentage is calculated by recalculating all periods in the comparison period at the foreign currency exchange rates used for accounting during the last month of the current quarter, and then using those revised values to calculate the year-over-year percentage change.

(b) The dollar impact from the current quarter currency impact is equal to the total year-over-year dollar change less the constant currency year-over-year change.

The preliminary reconciliation of GAAP revenue adjusted for recent acquisitions and divestitures and impact of currency is estimated based on our current information.
7

AGILENT TECHNOLOGIES, INC.
RECONCILIATION OF REVENUE BY SEGMENT EXCLUDING
ACQUISITIONS, DIVESTITURES AND THE IMPACT OF CURRENCY ADJUSTMENTS (CORE)
(In millions)
(Unaudited)
PRELIMINARY
 
Year-over-Year
GAAP
GAAP Revenue by SegmentFY24FY23Year-over-Year
% Change
Life Sciences and Applied Markets Group$3,215 $3,510 (8)%
Diagnostics and Genomics Group1,651 1,755 (6)%
Agilent CrossLab Group1,644 1,568 5%
Agilent$6,510 $6,833 (5)%
Non-GAAP
(excluding Acquisitions and Divestitures)
Year-over-Year at Constant Currency (a)
Non GAAP Revenue by SegmentFY24FY23Year-over-Year
% Change		Year-over-Year % ChangePercentage Point Impact from Currency
Current Quarter Currency Impact (b)
Life Sciences and Applied Markets Group $3,215 $3,510 (8)%(8)%—$(5)
Diagnostics and Genomics Group1,641 1,748 (6)%(6)%—2 
Agilent CrossLab Group 1,644 1,568 5%5%—(4)
Agilent (Core)$6,500 $6,826 (5)%(5)%—$(7)
 
.
We compare the year-over-year change in revenue excluding the effect of recent acquisitions and divestitures and foreign currency rate fluctuations to assess the performance of our underlying business.

(a) The constant currency year-over-year growth percentage is calculated by recalculating all periods in the comparison period at the foreign currency exchange rates used for accounting during the last month of the current quarter, and then using those revised values to calculate the year-over-year percentage change.

(b) The dollar impact from the current year currency impact is equal to the total year-over-year dollar change less the constant currency year-over-year change.

The preliminary reconciliation of GAAP revenue adjusted for recent acquisitions and divestitures and impact of currency is estimated based on our current information.
8
v3.24.3
Document and Entity Information Document
Nov. 25, 2024
Document and Entity Information [Abstract]  
Entity Central Index Key 0001090872
Title of 12(b) Security COMMON STOCK, $0.01 PAR VALUE
Entity Incorporation, State or Country Code DE
Document Type 8-K
Document Period End Date Nov. 25, 2024
Entity Registrant Name AGILENT TECHNOLOGIES, INC.
Entity Tax Identification Number 001-15405
Entity Tax Identification Number 77-0518772
Entity Address, Address Line One 5301 Stevens Creek Boulevard
Entity Address, City or Town Santa Clara
Entity Address, State or Province CA
Entity Address, Postal Zip Code 95051
City Area Code (800)
Local Phone Number 227-9770
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Trading Symbol A
Security Exchange Name NYSE
Amendment Flag false
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