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What’s Driving Agilent Technologies’ Segment Growth?

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Sep. 28 2018, Updated 6:31 a.m. ET

Agilent’s segments

Agilent Technologies (A) operates in three business segments:

  • Life Sciences and Applied Markets
  • Diagnostics and Genomics
  • Agilent CrossLab
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Life Sciences and Applied Markets

Agilent’s Life Sciences and Applied Markets segment provides application-focused solutions that include instruments and software to enable customers to identify, quantify, and analyze physical and biological properties of substances and products as well as interrogate samples at the molecular and cellular level. Major product categories in this segment include liquid chromatography systems, liquid chromatography-mass spectrometry systems, gas chromatography systems, plasma mass spectrometry, atomic absorption instruments, and more.

The segment’s revenues increased from $510 million in the third quarter of 2017 to $540 million in the third quarter of 2018 due to growth in the pharmaceutical and life sciences research market as well as growth in the chemical and forensics markets.

Diagnostics and Genomics

The Diagnostics and Genomics segment is comprised of six areas that provide active pharmaceutical ingredients for oligo-based therapeutics along with reagents, instruments, software, and consumables. The six areas under this segment are genomics, nucleic acid solutions, pathology solutions, collaborations for developing companion diagnostics, reagent partnership, and biomolecular analysis.

Diagnostics and Genomics revenues increased from $218 million in the third quarter of 2017 to $237 million in the third quarter of 2018 due to the positive impact from Agilent’s reagent partnership and genomics business.

Agilent CrossLab

Agilent CrossLab includes consumables and services designed to improve customer outcomes. Major product categories under this segment include sample preparation products, custom chemistries, and laboratory instrument supplies. It also provides software as a service, asset management, consultative services, and compliance support.

Agilent CrossLab revenues increased from $386 million in the third quarter of 2017 to $426 million in the third quarter of 2018.

In the next part, we’ll look at Agilent Technologies’ valuation metrics and upside potential.

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