Agilent Reports First-Quarter Fiscal Year 2026 Financial Results

SANTA CLARA, Calif.--( BUSINESS WIRE)--Agilent Technologies, Inc. (NYSE: A) today reported revenue of $1.80 billion for the first quarter ended Jan. 31, 2026, representing growth of 7.0% reported and up 4.4% core (1) compared with the first quarter of 2025.

With Ignite as our enterprise-wide operating system — driving execution excellence and operational rigor — we are well positioned to deliver resilient growth and long-term value for our customers and shareholders.

First-quarter GAAP net income was $305 million, or $1.07 per share. This compares with $318 million, or $1.11 per share, in the first quarter of 2025. Non-GAAP (2) net income was $386 million, or $1.36 per share, during the quarter, compared with $377 million, or $1.31 per share, during the year-ago quarter.

“It was a solid start to the year with the Agilent team executing well in a healthy — albeit dynamic — market environment that included navigating the impact of a major U.S. snowstorm during the last week of the quarter,” said Agilent President and CEO Padraig McDonnell. “On a normalized basis, excluding the weather-related impact, first-quarter results would have exceeded the midpoint of our guidance. This strong underlying performance allows us to maintain our core growth (1) and margin-expansion outlook for the full year, while modestly increasing our non-GAAP EPS range (3) for favorable currency. The continued momentum in our instrument-replacement cycle, strong engagement in Enterprise Services, and innovation across our portfolio reflect the strength of our customer-focused strategy. With Ignite as our enterprise-wide operating system — driving execution excellence and operational rigor — we are well positioned to deliver resilient growth and long-term value for our customers and shareholders.”

Financial Highlights

Life Sciences and Diagnostics Markets Group

The Life Sciences and Diagnostics Markets Group (LDG) reported first-quarter revenue of $679 million, growth of 5% reported and 3% core (1) year-over-year. LDG’s operating margin for the quarter was 16.0%.

Agilent CrossLab Group

The Agilent CrossLab Group (ACG) reported first-quarter revenue of $758 million, growth of 9% reported and 6% core (1) year-over-year. ACG’s operating margin for the quarter was 31.6%.

Applied Markets Group

The Applied Markets Group (AMG) reported first-quarter revenue of $361 million, growth of 7% reported and 4% core (1) year-over-year. AMG’s operating margin for the quarter was 25.8%.

Full Year 2026 and Second-Quarter Outlook

Full-year 2026 revenue outlook is expected in the range of $7.3 billion to $7.5 billion, representing growth of 5.5% to 7.5% reported and up 4% to 6% core (1). Non-GAAP EPS (3) is expected in the range of $5.90 to $6.04 per share.

The outlook for second-quarter 2026 revenue is expected to be in the range of $1.79 billion to $1.82 billion, representing growth of approximately 7% to 9% reported and up 4% to 5.5% core (1). Non-GAAP EPS (3) is expected in the range of $1.39 to $1.42 per share.

The outlook is based on forecasted currency exchange rates.

Conference Call

Agilent’s management will present additional details regarding the company’s first-quarter 2026 financial results on a conference call with investors today at 1:30 p.m. PST. This event will be broadcast live online in listen-only mode. To listen to the webcast, select the “Q1 2026 Agilent Technologies, Inc. Earnings Conference Call” link on the Agilent Investor Relations website. The replay of the call will remain on the company website for 90 days.

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 $6.95 billion in fiscal year 2025 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 fiscal year and second-quarter 2026, and the effects of its 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 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 impact relating to or arising from changes to tariffs, import/export or trade policies; 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-K for the fiscal year ended October 31, 2025. 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 first quarter 2026 are set forth on page 6 of the attached tables along with additional information regarding the use of this non-GAAP measure. Core revenue growth rate as projected for second quarter 2026 and full fiscal year 2026 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 EPS exclude the impacts of restructuring and other related costs, intangibles amortization, transformational initiatives, acquisition and integration costs and pension settlement loss. 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 and a reconciliation between non-GAAP EPS and GAAP EPS 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 EPS as projected for second quarter 2026 and full fiscal year 2026 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 $19 million per quarter.

AGILENT TECHNOLOGIES, INC.

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS

(In millions, except per share data)

(Unaudited)

PRELIMINARY

2026

2025

1,798

1,681

852

782

117

113

476

410

1,445

1,305

353

376

(25

)

(28

)

364

367

305

318

1.08

1.12

1.07

1.11

283

285

284

287

AGILENT TECHNOLOGIES, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In millions, except par value and share data)

(Unaudited)

PRELIMINARY

2026

2025

1,758

1,789

1,521

1,487

1,059

1,025

277

293

4,615

4,594

2,078

2,023

4,484

4,473

426

445

135

133

1,075

1,059

12,813

12,727

602

570

297

443

682

624

304

349

406

2,234

2,347

3,050

130

126

491

463

5,905

5,986

—

5,605

5,575

1,484

1,389

(184

)

(226

)

6,908

6,741

12,813

12,727

AGILENT TECHNOLOGIES, INC.

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(In millions)

(Unaudited)

PRELIMINARY

2026

2025

305

318

(10

)

—

(18

)

(30

)

(39

)

(40

)

(151

)

(104

)

(11

)

173

268

431

(93

)

(97

)

—

)

—

(93

)

(94

)

(27

)

(22

)

(152

)

(90

)

(72

)

(71

)

—

)

—

(30

)

(222

)

(180

)

(19

)

(31

)

138

1,791

1,332

1,760

1,470

1,758

1,467

1,760

1,470

105

AGILENT TECHNOLOGIES, INC.

NON-GAAP NET INCOME AND DILUTED EPS RECONCILIATIONS

(In millions, except per share data)

(Unaudited)

PRELIMINARY

2026

2025

305

1.07

318

1.11

0.07

—

0.07

0.10

0.07

0.02

0.01

0.03

—

0.05

0.09

0.02

)

(0.02

)

(0.02

)

386

1.36

377

1.31

AGILENT TECHNOLOGIES, INC.

SEGMENT INFORMATION

(In millions, except where noted)

(Unaudited)

PRELIMINARY

679

647

50.5

52.8

109

117

16.0

18.1

758

696

55.2

56.1

240

221

31.6

31.8

361

338

56.5

55.8

25.8

25.0

AGILENT TECHNOLOGIES, INC.

RECONCILIATIONS OF REVENUE BY SEGMENT

EXCLUDING ACQUISITIONS, DIVESTITURES AND THE IMPACT OF CURRENCY ADJUSTMENTS (CORE)

(In millions)

(Unaudited)

PRELIMINARY

679

647

758

696

361

338

1,798

1,681

679

647

758

696

361

338

1,798

1,681