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Agilent Technologies fiscal Q3 profit climbs 14% YOY

Agilent Technologies Inc. said earnings for the three months ended July 31 grew 14% year over year, and raised guidance for fiscal 2018.

The Santa Clara, Calif.-based life sciences company said its non-GAAP net income for the third quarter reached $217 million, or 67 cents per share, up from $191 million, or 59 cents per share, in the year-ago period.

The S&P Global Market Intelligence consensus normalized EPS estimate for the third quarter is 63 cents.

Net revenue increased 8% on an annual basis to $1.20 billion from $1.11 billion.

Agilent Technologies attributed the growth to China and the global pharma and chemical and energy end markets.

For 2018, Agilent Technologies increased its non-GAAP earnings per share forecast to $2.70, from $2.65. Additionally, the company now expects core revenue to grow 6.1% in the fiscal year, up from the previous guidance of 5.5%.