​Agilent reports Q3 beat, shares fall on guidance miss

Agilent Technologies Inc (NYSE:) reported its Q3 earnings, with EPS of $1.43 coming in better than the consensus estimate of $1.36. fell 2.7% year-over-year to $1.67 billion, slightly above the consensus estimate of $1.66 billion. However, shares fell more than 2% after-hours today on weaker-than-expected full-year guidance.

“The Agilent team executed well in challenging macroeconomic market conditions during the quarter, particularly in China. Looking forward, we believe the current market environment is transitory, and are confident in our team and the long-term growth prospects of our end markets,” said CEO Mike McMullen.

Reflecting the softer macroeconomic environment, the company now expects 2023 EPS in the range of $5.40 to $5.43, compared to the consensus of $5.50, and revenue in the range of $6.8 billion to $6.85 billion, compared to the consensus of $6.97 billion.