Agilent Technologies Q2 revenue rises 6.3% on core basis

2 min read Updated on 17 Jun 2026, 02:24 PM

Reviewed by

Naman SScanX News Team

AI Summary

Agilent Technologies reported Q2 FY26 revenue of $1.83 billion, up 6.3% on a core basis, with operating margin expanding to 26.4%. EPS grew 14% to $1.49, driven by the IGNITE operating system and strong end-market demand. The company raised its full-year revenue growth guidance to 4.5% to 6% and EPS guidance to $6.00 to $6.10.

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Agilent Technologies reported revenue of $1.83 billion for the second quarter of fiscal year 2026, representing a 6.3% increase on a core basis and exceeding guidance by 80 basis points. The company's operating margin improved to 26.4%, a year-over-year increase of 130 basis points, driven by the impact of its IGNITE operating system. Earnings per share grew 14% year-over-year to $1.49, surpassing the high end of guidance by $0.07.

Financial Performance

The strong performance was broad-based across the company's largest end markets, supported by continued replacement cycle momentum, innovation-led share gains, and improving operational execution. Agilent delivered at or above its long-term plan on all metrics, including revenue growth, margin expansion, and EPS growth. The IGNITE operating system contributed approximately 200 basis points of pricing in Q2, putting the company on a path to exceed its initial full-year goal of 100 basis points.

Metric	Q2 FY26 Result	Year-Over-Year Change
Revenue	$1.83 billion	6.3% (core basis)
Operating Margin	26.4%	+130 basis points
Earnings Per Share	$1.49	+14%

Segment and Regional Growth

At a business segment level, the Agilent Measurement Group (AMG) revenue grew 11% on a core basis, led by double-digit performance in spectroscopy and the Transportation Security Administration (TSA) airport security contract. The Life Sciences and Diagnostics Group (LDG) revenue grew 9% on a core basis, driven by low double-digit growth in LC and LC-MS and the cancer diagnostics business. The Agilent Cross Lab Group (ACG) grew 2% on a core basis, in line with guidance.

Geographically, the Americas saw the strongest results with 11% revenue growth. Europe and Asia ex-China revenue grew high single digits. China declined 9% in the quarter but was roughly flat on a first-half basis, in line with full-year guidelines.

Strategic Initiatives and Outlook

Agilent announced plans to build a China Innovation Center to enhance R&D capabilities in digital, AI, and automation. The company also announced the acquisition of Biocare, expected to enhance the cancer diagnostics segment. Management highlighted the transformative impact of the IGNITE operating system on supply chain resilience and strategic pricing.

Based on the strong performance, Agilent raised its full-year fiscal year 2026 revenue guidance to a range of $7.39 billion to $7.49 billion on a reported basis, representing growth of 4.5% to 6% on a core basis. The company increased its full-year EPS guidance to $6.00 to $6.10, an increase of $0.08 at the midpoint. For the third quarter, Agilent expects reported revenue to be in the range of $1.83 billion to $1.85 billion, with EPS guidance of $1.48 to $1.50.

How will the Biocare acquisition specifically accelerate growth in the cancer diagnostics market?

What strategies will Agilent employ to reverse the revenue decline in the China market?

Can the IGNITE operating system sustain its pricing power contribution beyond the initial 200 basis points?

Analyst Details

The coverage initiation was led by David Westenberg, an analyst at Piper Sandler. The Neutral rating suggests that the stock is expected to perform in line with the broader market or sector averages over the specified period.