What’s Expected for Agilent’s Fiscal 2019 EPS



EPS guidance

Agilent Technologies (A) has reiterated its fiscal 2019 non-GAAP EPS guidance of $3.03–$3.07, which represents a rise of 8.6%–10.0% YoY (year-over-year) on a reported basis and 10.0%–11.0% YoY on a CC (constant-currency) basis. Agilent aims to maintain its EPS guidance despite its reduced revenue outlook through expense management and $500 million in stock repurchases, of which the company expects to complete a major portion in the third quarter. Agilent has reduced its fiscal 2019 average diluted share count estimate to 319 million from 322 million, and expects its average diluted share count to drop sequentially in the third quarter to 317 million from 321 million. Agilent expects its non-GAAP EPS to rise 6%–9% on a reported basis to $0.71–$0.73.

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Wall Street estimates

Analysts expect Agilent’s non-GAAP EPS to rise 9.55% YoY to $3.06 in fiscal 2019, 10.96% YoY to $3.39 in fiscal 2020, and 11.16% YoY to $3.77 in fiscal 2021. In fiscal 2019, they expect Agilent’s non-GAAP EPS to rise 7.46% YoY to $0.72 in the third quarter, and 7% YoY to $0.87 in the fourth quarter.

Capital expenditure guidance

In its second-quarter investor presentation, Agilent reduced its fiscal 2019 capex guidance from $175 million to $170 million. Analysts expect Agilent’s capex to fall 4.95% YoY to $168.24 million in fiscal 2019, 1.48% YoY to $165.76 million in fiscal 2020, and 2.63% YoY to $161.40 million in fiscal 2021. In fiscal 2019, they expect Agilent’s capex to rise 25.76% YoY to $41.50 million in the third quarter, and 33.61% YoY to $48.10 million in the fourth quarter.



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