A 8-K

Agilent Technologies, Inc. (A)

8-K 2026-08-26 For: 2026-08-26

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Added on August 27, 2026

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	AGILENT TECHNOLOGIES, INC.


	By:	/s/ Michael Buckner
	Name:	Michael Buckner
	Title:	Senior Vice President, Chief Legal Officer and Secretary



Date: August 26, 2026


	Three Months Ended				Nine Months Ended
	July 31,				July 31,
	2026		2025		2026		2025

Net revenue	$	1,878	$	1,738	$	5,511	$	5,087

Costs and expenses:
Cost of products and services	836		850		2,533		2,434
Research and development	123		111		366		336
Selling, general and administrative	475		417		1,416		1,281
Total costs and expenses	1,434		1,378		4,315		4,051

Income from operations	444		360		1,196		1,036

Interest income	15		16		43		45
Interest expense	(29)		(28)		(79)		(85)
Other income (expense), net	14		18		56		(3)

Income before taxes	444		366		1,216		993

Provision for income taxes	82		30		210		124

Net income	$	362	$	336	$	1,006	$	869



Net income per share:
Basic	$	1.28	$	1.18	$	3.55	$	3.05
Diluted	$	1.28	$	1.18	$	3.55	$	3.05

Weighted average shares used in computing net income per share:
Basic	282		284		283		285
Diluted	283		285		283		285


		July 31, 2026		October 31, 2025
ASSETS
Current assets:
Cash and cash equivalents		$	1,758	$	1,789
Accounts receivable, net		1,478		1,487
Inventory		1,117		1,025
Other current assets		340		293
Total current assets		4,693		4,594

Property, plant and equipment, net		2,134		2,023
Goodwill		5,030		4,473
Other intangible assets, net		906		445
Long-term investments		130		133
Other assets		1,074		1,059
Total assets		$	13,967	$	12,727

LIABILITIES AND EQUITY

Current liabilities:
Accounts payable		$	608	$	570
Employee compensation and benefits		423		443
Deferred revenue		640		624

Short-term debt		304		304
Other accrued liabilities		314		406
Total current liabilities		2,289		2,347

Long-term debt		3,645		3,050
Retirement and post-retirement benefits		128		126
Other long-term liabilities		542		463
Total liabilities		6,604		5,986

Total Equity:
Stockholders' equity:
Preferred stock; $0.01 par value; 125,000,000 shares authorized; none issued and outstanding	3	—		—
Common stock; $0.01 par value; 2,000,000,000 shares authorized; 281,965,813 shares at July 31, 2026 and 283,054,377 shares at October 31, 2025, issued and outstanding		3		3
Additional paid-in-capital		5,681		5,575
Retained earnings		1,912		1,389
Accumulated other comprehensive loss		(233)		(226)
Total stockholders' equity		7,363		6,741
Total liabilities and stockholders' equity		$	13,967	$	12,727


	Nine Months Ended
	July 31,		July 31,
	2026		2025
Cash flows from operating activities:
Net income	$	1,006	$	869
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	200		217
Share-based compensation	105		102
Deferred taxes expense (benefit)	77		(35)
Excess and obsolete inventory related charges	35		30
Net (gain) loss on equity securities	2		28
Asset impairment charges	—		15
Other non-cash (income) expense, net	12		4
Changes in assets and liabilities:
Accounts receivable, net	16		(44)
Inventory	(110)		(72)
Accounts payable	41		(13)
Employee compensation and benefits	(25)		(26)
Other assets and liabilities	(295)		(61)
Net cash provided by operating activities (a)	1,064		1,014

Cash flows from investing activities:
Payments to acquire property, plant and equipment	(249)		(314)
Proceeds from sale of equity securities	—		5

Proceeds from convertible note	—		2
Payments in exchange for convertible note	(3)		(1)
Payments to acquire businesses and intangible assets, net of cash acquired	(950)		4
Net cash used in investing activities	(1,202)		(304)

Cash flows from financing activities:
Proceeds from issuance of common stock under employee stock plans	63		60
Payment of taxes related to net share settlement of equity awards	(31)		(28)
Payments for repurchase of common stock	(295)		(340)
Payment of excise taxes related to repurchases of common stock	(3)		(10)
Payments of dividends	(216)		(212)
Proceeds from issuance of long-term debt	600		4
Repayments of long-term debt	(4)		(2)
Payments of debt issuance costs	(5)		—
Net proceeds from (repayment of) short-term debt	—		13
Payments of finance lease	(4)		—


Net cash provided by (used in) financing activities	105		(515)

Effect of exchange rate movements	2		10

Net increase (decrease) in cash, cash equivalents and restricted cash	(31)		205

Cash, cash equivalents and restricted cash at beginning of period	1,791		1,332

Cash, cash equivalents and restricted cash at end of period	$	1,760	$	1,537

Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets:

Cash and cash equivalents	$	1,758	$	1,535
Restricted cash, included in other assets	2		2
Total cash, cash equivalents and restricted cash	$	1,760	$	1,537

(a) Cash payments included in operating activities:
Income tax payments, net of refunds received	$	376	$	304
Interest payments, net of capitalized interest	$	47	$	55
Net change in property, plant and equipment included in accounts payable and accrued liabilities-increase (decrease)	$	(9)	$	—
Excise tax on share repurchases, accrued but not paid	$	2	$	2


	Three Months Ended									Nine Months Ended
	July 31,									July 31,
	2026					2025				2026					2025
	Net Income		Diluted EPS			Net Income		Diluted EPS		Net Income		Diluted EPS			Net Income		Diluted EPS
GAAP net income	$	362	$	1.28	(b)	$	336	$	1.18	$	1,006	$	3.55	(c)	$	869	$	3.05
Non-GAAP adjustments:
Restructuring and other related costs	15		0.05			17		0.06		43		0.15			74		0.26
Asset impairments	—		—			—		—		—		—			15		0.05
Intangible amortization	21		0.07			26		0.09		59		0.21			81		0.28
Transformational initiatives	37		0.13			18		0.06		95		0.34			48		0.17
Acquisition and integration costs	7		0.02			3		0.01		22		0.08			15		0.05
Net (gain) loss on equity securities	5		0.02			1		—		6		0.02			28		0.10
Pension settlement loss	—		—			—		—		—		—			14		0.05
Other	8		0.03			12		0.05		42		0.15			27		0.09
Adjustment for taxes (a)	4		0.02			(23)		(0.08)		(5)		(0.02)			(31)		(0.10)
Non-GAAP net income	$	459	$	1.62	(b)	$	390	$	1.37	$	1,268	$	4.48	(c)	$	1,140	$	4.00


AGILENT TECHNOLOGIES, INC.
RECONCILIATION OF NON-GAAP INCOME FROM OPERATIONS AND OPERATING MARGIN
(In millions, except margin data)
(Unaudited)
PRELIMINARY

										Year Over Year
			Operating					Operating		Percent Pts
	Q3'26		Margin %			Q3'25		Margin %		Inc/(Dec)

GAAP revenue:	$	1,878				$	1,738

Income from operations:
GAAP Income from operations	$	444	23.6	%	(a)	$	360	20.7	%
Non-GAAP adjustments:
Restructuring and other related costs	15					17
Intangible amortization	21					26
Transformational initiatives	37					18
Acquisition and integration costs	7					3

Other	8					13
Non-GAAP income from operations	$	532	28.3	%	(a)	$	437	25.1	%	3.2%


(a) GAAP and non-GAAP income from operations of $444 million and $532 million, respectively, includes a $20 million net benefit from tariff refunds. GAAP and non-GAAP operating margin of 23.6% and 28.3%, respectively, includes a 110 basis points net benefit from tariff refunds.

We provide non-GAAP income from operations and non-GAAP operating margin amounts in order to provide meaningful supplemental information regarding our operational performance and our prospects for the future. These supplemental measures exclude, among other things, charges related to restructuring and other related costs, amortization of intangibles, transformational initiatives and acquisition and integration costs.

Our management recognizes that items such as amortization of intangibles can have a material impact on our cash flows and/or our net income. Our GAAP financial statements including our statement of cash flows portray those effects. Although we believe it is useful for investors to see core performance free of special items, investors should understand that the excluded items are actual expenses that may impact the cash available to us for other uses. To gain a complete picture of all effects on the company’s profit and loss from any and all events, management does (and investors should) rely upon the GAAP income statement. The non-GAAP numbers focus instead upon the core business of the company, which is only a subset, albeit a critical one, of the company’s performance.

Readers are reminded that non-GAAP numbers are merely a supplement to, and not a replacement for, GAAP financial measures. They should be read in conjunction with the GAAP financial measures. It should be noted as well that our non-GAAP information may be different from the non-GAAP information provided by other companies.

The preliminary reconciliation of income from operations and operating margins is estimated based on our current information.


	Q3'26			Q3'25
Revenue	$	746		$	670
Gross Margin, %	55.5		%	50.5		%
Income from Operations	$	176		$	118
Operating margin, %	23.5		%	17.6		%


	Year-over-Year

	GAAP
GAAP Revenue by Segment	Q3'26		Q3'25		Year-over-Year % Change

Life Sciences and Diagnostics Markets Segment	$	746	$	670	11%
Agilent CrossLab Segment	786		744		6%
Applied Markets Segment	346		324		7%
Agilent	$	1,878	$	1,738	8%

	Non-GAAP (excluding Acquisitions & Divestitures)					Year-over-Year at Constant Currency (a)
Non-GAAP Revenue by Segment	Q3'26		Q3'25		Year-over-Year % Change	Year-over-Year % Change	Percentage Point Impact from Currency	Current Quarter Currency Impact (b)

Life Sciences and Diagnostics Markets Segment	$	736	$	670	10%	10%	—	$	1
Agilent CrossLab Segment	786		744		6%	5%	1 ppt	2
Applied Markets Segment	346		324		7%	7%	—	1
Agilent (Core)	$	1,868	$	1,738	8%	7%	1 ppt	$	4