10-QPeriod: Q3 FY2026

AGILENT TECHNOLOGIES, INC. Quarterly Report for Q3 Ended Jul 31, 2026

Filed September 1, 2026For Securities:A

Summary

Agilent Technologies, Inc. reported solid financial results for the nine months ended July 31, 2026, with total net revenue reaching $5.511 billion, an 8% increase year-over-year. This growth was driven by all three business segments: Life Sciences and Diagnostics Markets, Agilent CrossLab, and Applied Markets, reflecting strong demand across key end markets and geographic regions. Net income for the nine-month period was $1.006 billion, a significant increase from $869 million in the prior year, indicating improved profitability. The company completed a significant acquisition of Biocare for $950 million on June 24, 2026, which is expected to expand its pathology portfolio. Agilent also issued $600 million in 2032 senior notes to fund its operations. Despite ongoing geopolitical uncertainties and tariff dynamics, Agilent has successfully mitigated adverse impacts through strategic initiatives, including supply chain optimization and targeted pricing actions, which contributed to a notable improvement in gross and operating margins.

Key Highlights

  • 1Total net revenue for the nine months ended July 31, 2026, increased by 8% to $5.511 billion.
  • 2Net income for the nine months ended July 31, 2026, grew to $1.006 billion, up from $869 million in the prior year.
  • 3The company successfully acquired Biocare for $950 million on June 24, 2026, strengthening its Life Sciences and Diagnostics Markets segment.
  • 4Gross margin improved to 54.0% for the nine months ended July 31, 2026, up from 52.2% in the prior year.
  • 5Operating margin also saw an increase, reaching 21.7% for the nine months ended July 31, 2026, compared to 20.4% in the same period last year.
  • 6Cash provided by operating activities increased to $1.064 billion for the nine months ended July 31, 2026, demonstrating strong cash generation.
  • 7Agilent issued $600 million in 2032 senior notes to fund its corporate activities.

Frequently Asked Questions

The acquisition of Biocare for $950 million on June 24, 2026, has been integrated into Agilent's consolidated financial statements starting from the acquisition date. It is expected to expand the company's pathology portfolio within the Life Sciences and Diagnostics Markets segment. The acquisition contributed $549 million to goodwill and $520 million to other intangible assets in the Life Sciences and Diagnostics Markets segment during the nine months ended July 31, 2026. While the immediate pro forma effects were not material to consolidated financial statements, the strategic addition is expected to drive future growth.

Agilent has implemented mitigation strategies, including supply chain optimization, targeted pricing actions, and cost-efficiency initiatives, to protect margins and sustain long-term growth despite ongoing global tariff dynamics and geopolitical tensions. The company reported that these strategies helped mitigate adverse impacts on its cost of revenue for the three and nine months ended July 31, 2026. A net benefit from tariff refunds also favorably impacted gross and operating margins.

Agilent remains optimistic about the long-term health and growth prospects of its key end markets. The company expects improved investment activity from customers, driven by normalized capital spending. Agilent plans to continue investing in research and development, enhancing its applications and solutions portfolio, and expanding its presence in developing and emerging markets. The rising demand for its Agilent Advanced Therapeutics business and the growth in its diagnostics and clinical markets (OMNIS platforms) are also key drivers for future growth.

Agilent issued $600 million in aggregate principal amount of 2032 senior notes on June 25, 2026, bearing interest at a fixed rate of 4.90 percent per annum. The company's total long-term debt increased significantly from $3.030 billion at October 31, 2025, to $3.628 billion at July 31, 2026, primarily due to this issuance. Despite the increased debt, Agilent's liquidity is considered sufficient, supported by cash generated from operations and access to credit facilities.