Seeking Alpha

Agilent's FQ3 EPS guidance soft, but order growth improves

  • Agilent (A) expects FQ3 revenue of $1.74B-$1.76B and EPS of $0.72-$0.74 vs. a consensus of $1.74B and $0.79. FY14 (ends in Oct) guidance is for revenue of $6.9B-$7.1B and EPS of $2.96-$3.16 vs. a consensus of $6.98B and $3.08.
  • Orders rose 7% Y/Y in FQ2, better than FQ2's 2% decline and favorable to flat revenue growth. Life sciences/diagnostics orders +6% to $598M, chemical analysis +4% to $432M, electronic measurement (due for a spinoff) +12% to $782M. Book-to-bill was 1.05.
  • Gross margin was 51.9%, up slightly Y/Y but down 70 bps Q/Q. R&D spend fell 3% Y/Y to $176M, SG&A spend rose 3% to $513M.
  • A -0.5% AH. FQ2 results, PR.
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