Agilent Reports Second-Quarter Fiscal Year 2026 Financial Results
SANTA CLARA, Calif.--( BUSINESS WIRE)--Agilent Technologies Inc. (NYSE: A) today reported revenue of $1.83 billion for the second quarter ended April 30, 2026, representing growth of 10.0% reported and up 6.3% core (1) compared with the second quarter of 2025.
Second-quarter GAAP net income was $339 million, or $1.20 per share. This compares with $215 million, or $0.75 per share, in the second quarter of 2025. Non-GAAP net income (3) was $423 million, or $1.49 per share, during the quarter, compared with $373 million, or $1.31 per share, during the year-ago quarter.
“It was an excellent second quarter for Agilent, with broad-based strength across key end markets, exceptional operational execution and strong margin performance,” said Padraig McDonnell, president and CEO of Agilent Technologies. “The continued momentum we are seeing across the business reflects the strength of our customer-focused strategy, healthy underlying demand, and the increasing impact of the Ignite Operating System across the organization, supported by the resilience of our diversified portfolio. Innovation remains a key driver of our long-term growth. The introduction of solutions such as our new 9500 ICP-MS platform demonstrates our ability to anticipate evolving customer needs and translate those insights into differentiated technologies that improve laboratory productivity and performance. Combined with the continued progress of Ignite, replacement-cycle momentum, and a strong innovation pipeline, we remain well positioned to deliver sustainable 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 second-quarter revenue of $732 million, growth of 12% reported and 9% core (1) year-over-year. LDG’s operating margin for the quarter was 22.0%.
Agilent CrossLab Group
The Agilent CrossLab Group (ACG) reported second-quarter revenue of $759 million, growth of 6% reported and 2% core (1) year-over-year. ACG’s operating margin for the quarter was 32.0%.
Applied Markets Group
The Applied Markets Group (AMG) reported second-quarter revenue of $344 million, growth of 14% reported and 11% core (1) year-over-year. AMG’s operating margin for the quarter was 23.3%.
Conference Call
Agilent’s management will present additional details regarding the company’s second-quarter 2026 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 “Q2 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 third-quarter 2026, and the effects of its operational transformation and customer 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, customer and 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 quarterly report on Form 10-Q for the fiscal quarter ended January 31, 2026. 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 or organic constant currency revenue growth excludes the impact of currency and acquisitions and divestitures within the past 12 months. Core or organic constant currency revenue is a non-GAAP measure. Reconciliations between GAAP revenue and core or organic constant currency revenue for second quarter 2026 are set forth on page 7 of the attached tables along with additional information regarding the use of this non-GAAP measure. Core or organic constant currency revenue growth rate as projected for third 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 operating margin excludes the impacts of restructuring and other related costs, intangibles amortization, transformation initiatives, acquisition and integration costs and net (gain) loss on equity securities. A reconciliation between non-GAAP operating margin and GAAP operating margin is set forth on page 5 of the attached tables along with additional information regarding the use of this non-GAAP measure. Non-GAAP operating margin as projected for full fiscal year 2026 excludes primarily the impacts of restructuring and other related costs, intangible amortization, transformation initiatives and acquisition and integration costs. 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.
(3) 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 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 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.
(4) Non-GAAP EPS as projected for third 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 $18 million per quarter.
(5) Core or organic constant currency revenue growth outlook is based on forecasted currency exchange rates.
AGILENT TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share data)
(Unaudited)
PRELIMINARY
Three Months Ended
Six Months Ended
April 30,
April 30,
2026
2025
2026
2025
$
1,835
$
1,668
$
3,633
$
3,349
845
802
1,697
1,584
126
112
243
225
465
454
941
864
1,436
1,368
2,881
2,673
399
300
752
676
13
14
28
29
(25
)
(29
)
(50
)
(57
)
21
(25
)
42
(21
)
408
260
772
627
69
45
128
94
$
339
$
215
$
644
$
533
Basic
$
1.20
$
0.75
$
2.28
$
1.87
Diluted
$
1.20
$
0.75
$
2.27
$
1.86
Basic
282
285
283
285
Diluted
283
285
284
286
Page 1
AGILENT TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions, except par value and share data)
(Unaudited)
PRELIMINARY
April 30,
October 31,
2026
2025
$
1,807
$
1,789
1,498
1,487
1,089
1,025
369
293
4,763
4,594
2,099
2,023
4,484
4,473
407
445
136
133
1,176
1,059
$
13,065
$
12,727
$
615
$
570
387
443
665
624
304
304
298
406
2,269
2,347
3,051
3,050
127
126
496
463
5,943
5,986
—
—
3
3
5,629
5,575
1,692
1,389
(202
)
(226
)
7,122
6,741
$
13,065
$
12,727
Page 2
AGILENT TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)
PRELIMINARY
Six Months Ended
April 30,
April 30,
2026
2025
$
644
$
533
134
145
73
70
57
(28
)
25
22
(1
)
27
—
15
4
2
(6
)
(27
)
(85
)
(41
)
54
(27
)
(59
)
(25
)
(295
)
(14
)
545
652
(169
)
(211
)
(1
)
(1
)
—
4
(170
)
(208
)
32
31
(29
)
(24
)
(217
)
(255
)
(3
)
(10
)
(144
)
(141
)
—
4
(3
)
(1
)
—
100
(2
)
—
(366
)
(296
)
9
9
18
157
1,791
1,332
$
1,809
$
1,489
$
1,807
$
1,486
2
3
$
1,809
$
1,489
$
320
$
248
$
45
$
51
$
(11
)
—
$
1
$
2
Page 3
AGILENT TECHNOLOGIES, INC.
NON-GAAP NET INCOME AND DILUTED EPS RECONCILIATIONS
(In millions, except per share data)
(Unaudited)
PRELIMINARY
Three Months Ended
Six Months Ended
April 30,
April 30,
2026
2025
2026
2025
Net Income
Diluted EPS
Net Income
Diluted EPS
Net Income
Diluted EPS
Net Income
Diluted EPS
$
339
$
1.20
$
215
$
0.75
$
644
$
2.27
$
533
$
1.86
8
0.03
56
0.20
28
0.10
57
0.20
—
—
15
0.05
—
—
15
0.05
19
0.07
27
0.10
38
0.13
55
0.19
39
0.14
24
0.08
58
0.21
30
0.10
12
0.04
3
0.01
15
0.05
12
0.04
1
—
27
0.10
1
—
27
0.10
—
—
—
—
—
—
14
0.05
7
0.02
9
0.03
34
0.12
15
0.05
(2
)
(0.01
)
(3
)
(0.01
)
(9
)
(0.03
)
(8
)
(0.02
)
$
423
$
1.49
$
373
$
1.31
$
809
$
2.85
$
750
$
2.62
Page 4
AGILENT TECHNOLOGIES, INC.
RECONCILIATION OF NON-GAAP INCOME FROM OPERATIONS AND OPERATING MARGIN
(In millions, except margin data)
(Unaudited)
PRELIMINARY
Year Over Year
Operating
Operating
Percent Pts
Q2'26
Margin %
Q2'25
Margin %
Inc/(Dec)
$
1,835
$
1,668
$
399
21.7
%
$
300
18.0
%
8
56
19
27
39
24
12
3
—
1
6
8
$
483
26.4
%
$
419
25.1
%
1.3
%
We provide non-GAAP income from operations and non-GAAP operating margin 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, amortization of intangibles, transformational initiatives, acquisition and integration costs and net (gain) loss on equity securities.
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 reconciliation of income from operations and operating margins is estimated based on our current information.
Q2'26
Q2'25
$
732
$
654
54.1
%
52.8
%
$
161
$
129
22.0
%
19.7
%
Q2'26
Q2'25
$
759
$
713
55.5
%
55.5
%
$
242
$
231
32.0
%
32.4
%
Q2'26
Q2'25
$
344
$
301
55.8
%
53.5
%
$
80
$
59
23.3
%
19.5
%
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, amortization of intangibles, transformational initiatives, acquisition and integration costs and net (gain) loss on equity securities.
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.
Page 6
$
732
$
654
12%
759
713
6%
344
301
14%
$
1,835
$
1,668
10%
$
732
$
654
12%
9%
3 ppts
$
22
759
713
6%
2%
4 ppts
29
344
301
14%
11%
3 ppts
10
$
1,835
$
1,668
10%
6%
4 ppts
$
61
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.
Page 7