Agilent Technologies Posts Higher Quarterly Revenue but Lower Operating Income, Net Income, and Diluted EPS Year-Over-Year Amid Tariff Cost Pressure

Bottom line

Agilent Technologies, Inc. closed its most recent three-month reporting window with both top-line and bottom-line growth on a year-over-year basis, even as a tariff backdrop created cost pressure that management says it intends to neutralize before fiscal year-end. Revenue from Contract with Customer, Excluding Assessed Tax was $1,798,000,000 USD for the three-month reporting period the three months ended January 31, 2026, higher than the prior-year comparative of $1,681,000,000 USD for the three months ended January 31, 2025. Operating Income (Loss) was $353,000,000 USD for the three months ended January 31, 2026, lower than the prior-year $376,000,000 USD for the three months ended January 31, 2025. Net Income (Loss) Attributable to Parent was $305,000,000 USD for the three months ended January 31, 2026, lower than the prior-year $318,000,000 USD for the three months ended January 31, 2025. Earnings Per Share, Diluted was $1.07 per diluted share USD/SHARES for the three months ended January 31, 2026, lower than the prior-year $1.11 per diluted share USD/SHARES for the three months ended January 31, 2025. The authorized transition on the profit lines is profit to profit, and on the share line it is likewise profit to profit across the two quarters.

The filing attributes part of the operating environment to ongoing tariff changes, which "adversely impacted our costs of revenue" during the three-month reporting period. Management also states that it "expect[s] to fully offset the current impact during our fiscal year" through supply-chain optimization, targeted pricing actions, and other cost-efficiency initiatives, while cautioning that "governmental responses further increase the uncertainty as to the impact of tariffs on our future results of operations." The filing is otherwise an interim data set prepared under U.S. GAAP without all footnote disclosures of a full statement set, and the October period-end condensed balance sheet was derived from audited statements.

The reported revenue reading is directionally consistent with stronger underlying demand in the three-month window, while the decline in operating income, net income, and diluted EPS despite higher revenue suggests margin compression relative to the prior-year quarter. The filing evidence does not attribute this change to any single cause.

None beyond management's own framing of tariff-driven cost pressure; the filing does not present segment-level operating income or quantify the tariff impact.

The filing evidence does not attribute this change to any single cause. The filing evidence contains no peer or industry comparison. The filing evidence does not disclose segment-level detail for this dimension.

Financial performance

Reported performance for AGILENT TECHNOLOGIES, INC. in the three-month reporting period shows a mixed year-over-year pattern across the headline earnings lines. Revenue from Contract with Customer, Excluding Assessed Tax was $1,798,000,000 USD for the three months ended January 31, 2026, higher than the $1,681,000,000 USD recorded for the three months ended January 31, 2025. Operating Income (Loss) was $353,000,000 USD for the three months ended January 31, 2026, below the $376,000,000 USD figure for the three months ended January 31, 2025. Net Income (Loss) Attributable to Parent was $305,000,000 USD for the three months ended January 31, 2026, a profit but lower than the $318,000,000 USD profit in the three months ended January 31, 2025. Earnings Per Share, Diluted was $1.07 per diluted share USD/SHARES for the three months ended January 31, 2026, a profit but below the $1.11 per diluted share USD/SHARES recorded in the three months ended January 31, 2025. The transition for each earnings line is a profit-to-profit step from one period to the next, with revenue the only line that moved up against the prior-year quarter; the operating, net-income and per-share lines all stepped down. The filing evidence does not attribute this change to any single cause.

Within the same interim document the revenue line carries the analyst-style footnote that revenue by end market is determined by the market indicator of the customer and by customer type, with non-instrumentation revenue defined to cover sales from contract and per incident services, companion diagnostics, contract development and manufacturing, spare parts, consumables, reagents, vacuum pumps, subscriptions, software licenses and associated services. That disclosure shapes how a reader should weight the headline revenue figure, since the end-market and customer-type cuts — and the bundled services and consumables line — sit underneath the single reported number. The filing evidence does not disclose segment-level detail for this dimension.

Accounting context in the filing is consistent with a continuation of the prior-year framework rather than a fresh adoption. The notes state that there were no additions to the new accounting pronouncements not yet adopted as described in the Annual Report for the fiscal year ended October (omitted), and that any pronouncements issued by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the condensed consolidated financial statements upon adoption. Critical accounting policies are reiterated as revenue recognition, valuation of goodwill and purchased intangible assets, inventory valuation, retirement and post-retirement benefit plan assumptions and accounting for income taxes, with management emphasising that estimates require difficult, subjective or complex judgments. Fair-value measurement policy is described at the cited level using Level 1 inputs under the accounting guidance, with the fair value of foreign currency contracts used for hedging purposes estimated internally using inputs tied to active markets.

Guidance expectations are not numerically disclosed in the filing evidence, so no forward EPS, revenue or operating-income range can be reported from this filing; the interim document does not contain a management quantitative outlook segment beyond the critical-accounting and fair-value policy language quoted above. The comparison baseline for the next read is therefore the year-over-year pattern shown above: revenue up, operating income, net income and diluted EPS down, all on a profit-to-profit basis, with the segment and driver detail behind the revenue figure left at the level management chose to disclose. Agilent Technologies Posts Higher Revenue, Operating Income, Net Income and Diluted EPS on Both Three-Month and Six-Month Windows in Interim Filing sits alongside as a comparable read of the prior interim. The filing evidence contains no peer or industry comparison.

Operating drivers and segments

The interim report for AGILENT TECHNOLOGIES, INC. (A) filed under 10-Q for period-ended-2026-01-31 and accession 0001090872-26-000023 presents only consolidated results for the three months ended the three months ended January 31, 2026, with no business-unit or geographic split in the cited condensed statements. Revenue from Contract with Customer, Excluding Assessed Tax is shown in total at $1,798,000,000 USD, against a prior-year three-month comparative of $1,681,000,000 USD for the three months ended January 31, 2025, with the reported direction reading as higher than the prior period. Operating Income (Loss) is likewise reported only at the consolidated level at $353,000,000 USD for the current three-month window, compared with $376,000,000 USD for the prior-year window, with the authorized direction reading as lower than the prior period. The filing evidence does not disclose segment-level detail for this dimension. No margin bridge, mix detail, end-market breakdown, or operating-segment operating-profit disclosure appears in the cited excerpt of the filing, so the change in consolidated operating income cannot be traced to any individual reporting segment from the evidence on hand.

Management's own commentary in the cited narrative focuses on three operational themes rather than on the quarter's revenue or operating-income movements. First, the company frames itself as "a global leader in life sciences, diagnostics and applied markets," with application-focused instruments, software, services and consumables sold across the laboratory workflow. Second, management flags tariffs: "While the tariff changes adversely impacted our costs of revenue during the three months ended [quarter], we expect to fully offset the current impact during our fiscal year [omitted]." The cited mitigation language lists "supply chain optimization, targeted pricing actions, and other cost-efficiency initiatives to protect margins," and management adds that "governmental responses further increase the uncertainty as to the impact of tariffs on our future results of operations." Third, the company reiterates that its critical accounting policies — revenue recognition, goodwill and purchased-intangible valuation, inventory valuation, retirement and post-retirement benefit assumptions, and income-tax accounting — "affect our financial statements materially and involve difficult, subjective or complex judgments." No management explanation is offered for the revenue or operating-income movement itself; readers can compare the company's broader reporting cadence against peers via Agilent Technologies Posts Higher Revenue, Operating Income, Net Income and Diluted EPS on Both Three-Month and Six-Month Windows in Interim Filing.

The independent analyst view from the cited evidence is narrow. Revenue moved higher year over year while operating income moved lower, so the implied consolidated operating margin compressed, but the filing excerpt provides no quantitative bridge, segment mix, foreign-exchange attribution, or tariff-cost figure that would let an outside reader decompose that compression. The tariff paragraph is the only management statement that links a specific cost driver to the period, and it is forward-looking ("expect to fully offset") rather than a quantified retrospective attribution. The filing evidence does not attribute this change to any single cause. On the balance-sheet side, the cited note on fair-value measurements references Note 9 and the lower fair-value tier described in Level 1, and equity disclosures under Note 12 are referenced for stockholders' equity composition; the cited note on legal proceedings, risk factors, and equity sales under Item 1 and Item 1A, on unregistered sales under Item 2, on market-risk quantitative and qualitative disclosures under Item 3, on controls and procedures and legal proceedings under Item 4, on other information and exhibits under Item 5, and on exhibits under Item 6, are referenced without a digit appearing in this prose. The filing evidence contains no peer or industry comparison. No independent peer, industry, or analyst-survey data is contained in the excerpt, so any cross-company comparison of segment momentum would be outside the evidence presented.

Cash flow and capital

- Operating cash flow for the three months ended January 31, 2026, AGILENT TECHNOLOGIES, INC.'s three-month window on 10-Q period-ended-2026-01-31 under accession 0001090872-26-000023, registered at $268,000,000 USD, a higher amount than the prior-year comparative period. The corresponding prior-year figure sat at $431,000,000 USD. Operating cash flow therefore remained in positive territory across both windows even as it moved lower; the underlying attribution is captured by The filing evidence does not attribute this change to any single cause.. Free cash conversion stayed comfortably positive in both periods, since operating cash flow dwarfed capital outlays in every window.

- Investing activities stayed in a cash-out posture, printing at -$93,000,000 USD in the current quarter and -$94,000,000 USD a year earlier. Investing outflows moved to a less negative reading on a year-over-year basis, although the change is not labeled in the filing, so further interpretation is captured by The filing evidence does not attribute this change to any single cause.. Property, plant and equipment spend — a proxy for capital intensity — registered at $93,000,000 USD versus $97,000,000 USD; the lower reading frames a stretched-out investment cadence as opposed to an outright retrenchment. M&A and securities holdings move behind these totals, but no separate breakout is supplied.

- Financing activities registered an outflow of -$222,000,000 USD, deeper than the prior year's -$180,000,000 USD. Share repurchases climbed to $152,000,000 USD from $90,000,000 USD, while ordinary common dividends climbed to $72,000,000 USD from $71,000,000 USD. Capital-return pressure is therefore broad-based: the company returned more cash to shareholders through both vehicles, financed in part by drawing down cash and through debt activity not separately tabulated here. The motivation for the heavier buyback pace is captured by The filing evidence does not attribute this change to any single cause..

- Balance-sheet positioning at the balance sheet date of January 31, 2026 is anchored by cash and equivalents of $1,758,000,000 USD against accounts payable of $602,000,000 USD. Those two lines tell a tidy liquidity story: cash on hand comfortably exceeded the working-capital tab carried to suppliers, signaling ample near-term funding for both organic investment and continued capital return. Working-capital mechanics beyond payables — receivables, inventory, accrued items — were not separately enumerated for this section, so further interpretation is captured by The filing evidence does not attribute this change to any single cause..

- Capital allocation, taken together, recasts the quarter as: heavy operating cash generation, a lower but still meaningful reinvestment, and a stepped-up shareholder-return program funded by drawdowns. The combined payout-to-FCF ratio is described qualitatively rather than by arithmetic, since a wide enough margin remains between operating cash generation and the total cash returned to suggest headroom for both buybacks and dividends. Equity disclosure context is captured in Note 12.

Read more on the operating backdrop in Agilent Technologies Posts Higher Revenue, Operating Income, Net Income and Diluted EPS on Both Three-Month and Six-Month Windows in Interim Filing.

Peer and historical context

- On the same three-month reporting window, AGILENT TECHNOLOGIES, INC. (A) moved along the same broad direction as several other recent interim filers covered on Lizely Finance, where revenue, operating income, and net income were all higher than the prior-year quarter; this is consistent with the pattern described in Palantir Technologies Reports Higher Revenue, Operating Income, Net Income, and Diluted EPS on Both Three-Month and Year-to-Date Windows in Interim Filing, Teledyne Technologies Posts Higher Revenue, Operating Income, Net Income, and Diluted EPS on Both Three-Month and Six-Month Windows in Interim Filing, and ONEOK Posts Higher Revenue, Operating Income, Net Income and Diluted EPS Year-Over-Year in Interim Filing. - The peer alignment above is qualitative only; the filing's own authorized comparisons confirm that, for AGILENT TECHNOLOGIES, INC., the year-over-year direction on the three-month window is higher revenue, lower operating income, and lower net income — the opposite earnings pattern from the peer cluster even though revenue direction matches. - The LTPP-TSR program described in the filing notes is built on a peer-group comparison of total stockholder return, meaning AGILENT TECHNOLOGIES, INC. itself runs an internal relative-performance benchmark, but the filings do not surface the named peer set, so a true like-for-like peer ranking against named instruments cannot be assembled from the filing evidence. - Compared with Lizely Finance Earnings Analysis — UFP TECHNOLOGIES INC Interim Filing: Profit-to-Profit Growth on Both Windows, the AGILENT TECHNOLOGIES, INC. interim still keeps operating income and net income in profit territory on the three-month window, so the contrast is one of earnings direction, not of sign.

- The authorized year-over-year direction for Revenue from Contract with Customer, Excluding Assessed Tax is higher on the three-month window, while Operating Income (Loss) and Net Income (Loss) Attributable to Parent are lower on the same window; both remain in profit versus a profit a year earlier, so the gross margin path implied by revenue up while operating income is down is the clearest internal divergence inside AGILENT TECHNOLOGIES, INC.'s own three-month results. - Net Cash Provided by (Used in) Operating Activities is authorized as lower than the prior-year three-month window, which runs counter to a simple read that higher revenue should translate into stronger cash generation over the same period.

For AGILENT TECHNOLOGIES, INC. under 10-Q for period-ended-2026-01-31 (accession 0001090872-26-000023), the three-month revenue line printed at $1,798,000,000 against $1,681,000,000, operating income at $353,000,000 against $376,000,000, net income attributable to parent at $305,000,000 against $318,000,000, and operating cash flow at $268,000,000 against $431,000,000, with each prior value covering the three months ended January 31, 2025 and each current value covering the three months ended January 31, 2026. The share-based-compensation narrative under the cited note sketches LTPP-TSR peer-relative targets, LTPP-EPS targets, restricted-stock-unit vesting, and a Black-Scholes plus Monte Carlo valuation framework, but it does not quantify outcomes, so no historical award-payout history can be drawn from the filing. The Pillar Two disclosure notes that enacted global minimum-tax rules have already raised AGILENT TECHNOLOGIES, INC.'s income-tax expense via top-up taxes, which is a structural overlay rather than a quarter-specific driver and so does not by itself explain the three-month gap. The filing evidence does not attribute this change to any single cause. The filing evidence contains no peer or industry comparison.

Scenario analysis

The central operating result framing the conditional scenarios is the company's three-month performance in 10-Q period-ended-2026-01-31 (accession 0001090872-26-000023). Revenue from Contract with Customer, Excluding Assessed Tax for the three months ended January 31, 2026 was $1,798,000,000, compared with $1,681,000,000 for the three months ended January 31, 2025; the reported direction for revenue is an increase, with both periods showing a positive top line. Net Income (Loss) Attributable to Parent for the three months ended January 31, 2026 was $305,000,000, compared with $318,000,000 for the three months ended January 31, 2025; the authorized direction for net income is a decrease, and the authorized transition is profit to profit. The contrast — higher revenue alongside lower net income — is the pivot on which the conditional reading rests.

Under the base case, the reader is invited to treat the quarter as an in-line continuation of the prior operating model. Revenue grew, the top line remained positive, and net income stayed in profit even as it stepped down from a higher prior-year base. Nothing in the filing evidence points to a structural break in either line. Management's own narrative in the source narrative focuses on share-based compensation mechanics (Black-Scholes, Monte Carlo, the Finnerty discount for LTPP post-vest holding restrictions), the ESPP purchase mechanic, and the income-tax disclosures, including the effective tax rate for the three months ended January (omitted), the absence of significant discrete items for both periods, the OECD Pillar Two top-up impact, and the OBBBA effective for fiscal years (omitted) and (omitted), which is stated in the filing as not having a material impact on the effective tax rate or cash flow in the current quarter. These threads are presented as ongoing administrative items rather than directional drivers.

The upside scenario conditions on the established revenue trajectory holding or extending, with net income staying in profit even after the year-over-year decrease. The filing offers no segment-level revenue or operating-income split that would let a reader test whether the revenue gain was broad-based or concentrated, so The filing evidence does not disclose segment-level detail for this dimension. applies. If revenue keeps rising and the tax line remains consistent with management's Pillar Two and OBBBA characterization, the path of least resistance is for the profit-to-profit transition to continue rather than reverse.

The downside scenario conditions on the net income decrease widening while revenue stays at or above the prior-year level. The filing provides no peer or industry benchmark, so any cross-company comparison is unsupported and The filing evidence contains no peer or industry comparison. applies. Likewise, the filing evidence does not attribute the year-over-year change in either revenue or net income to any single cause, so The filing evidence does not attribute this change to any single cause. governs; readers should not infer a cost-side, mix, or tax-side explanation from this section.

Readers cross-checking the trend can compare this quarter against the companion read on Agilent Technologies Posts Higher Revenue, Operating Income, Net Income and Diluted EPS on Both Three-Month and Six-Month Windows in Interim Filing to confirm the three-month direction cited here.

Risks and what to watch

Even with both the top line and the bottom line moving in a constructive direction this quarter, several risk threads deserve continued monitoring because the filing itself flags them. The interim disclosure points to ongoing tax exposure in major jurisdictions where statutes of limitation remain open back to the cited note period, and management concedes that the timing of any future tax payments or change in unrecognized tax benefits cannot be estimated reliably. Audits could conclude over the next twelve months in those jurisdictions, so any material settlement would land on top of an effective tax rate that the filing already describes as elevated by top-up taxes under the OECD Pillar Two framework. The recently enacted One Big Beautiful Bill Act is described as not yet having a material impact on the effective tax rate or cash flow in the current quarter, which means its full effect on fiscal years covered by the cited note is a deferred risk rather than a closed issue.

On the share-based compensation side, the long-term performance program awards granted to senior management through the cited fiscal year carry a one-year post-vest holding restriction, with the discount calculated using the Finnerty model that relies on historical stock price volatility and expected dividend yield. That modeling assumption is itself an uncertainty: if realized volatility or dividend behavior diverges from the historical inputs used, the expense trajectory and dilution math could shift in ways the filing does not pre-quantify.

The cash-flow profile offers a partial counterweight. Even as the income statement shrank on a year-over-year basis, financing and investing activity movements, both authorized as directional changes in the period catalog, suggest continued capital return discipline through share repurchases and ordinary dividends alongside investment in property, plant and equipment, partially mitigating concerns that profitability erosion would be matched by retreating shareholder returns. Readers can place this read alongside a Lizely Finance Earnings Analysis — UFP TECHNOLOGIES INC Interim Filing: Profit-to-Profit Growth on Both Windows for a peer-window reference, although the filing evidence does not provide a formal peer or industry comparison for this issuer.

- Key metrics to watch next period: - Revenue trend versus the prior-year window: $1,681,000,000 USD for the three months ended January 31, 2025 versus $1,798,000,000 USD for the three months ended January 31, 2026, with sustainability of the increase as the central question. - Net Income (Loss) Attributable to Parent trajectory: $318,000,000 USD versus $305,000,000 USD, watching for whether the authorized profit-to-profit transition extends into the next reporting window. - Effective tax rate movement following Pillar Two top-up taxes and the deferred impact of the One Big Beautiful Bill Act in the cited fiscal years. - Resolution of open tax audits in the cited jurisdictions and any change in unrecognized tax benefits. - Capital return cadence through share repurchases and ordinary dividends, alongside property, plant and equipment spend, to confirm continued discipline if earnings pressure persists.

Unknowns: The filing does not disclose segment-level detail for these dimensions in the current evidence window, so any segment attribution of the quarter-over-quarter movement is unavailable. Causality for the authorized directional changes is also not attributed to any single driver in the text.