Agilent CFO Departs; Interim Appointed; Q2 Results Released

TL;DR

Agilent's CFO is out, interim in, and Q2 revenue hit $1.64B with EPS at $1.30.

AI Summary

Agilent Technologies, Inc. announced on May 01, 2024, the departure of its Chief Financial Officer, Robert W. McMahon, effective May 10, 2024. The company also announced the appointment of Michael R. Tang as interim CFO. Additionally, Agilent reported its financial results for the second quarter of fiscal year 2024, with net revenue of $1.64 billion and non-GAAP diluted earnings per share of $1.30.

Why It Matters

The departure of a CFO can signal strategic shifts or internal challenges, while the release of financial results provides insight into the company's current performance and future outlook.

Risk Assessment

Risk Level: medium — The departure of a CFO and the appointment of an interim successor can introduce uncertainty regarding financial strategy and leadership stability.

Key Numbers

• $1.64B — Q2 FY24 Net Revenue (Indicates top-line performance for the reported quarter.)
• $1.30 — Q2 FY24 Non-GAAP Diluted EPS (Shows profitability on a per-share basis, excluding certain items.)

Key Players & Entities

• Agilent Technologies, Inc. (company) — Registrant
• Robert W. McMahon (person) — Departing Chief Financial Officer
• May 10, 2024 (date) — Effective date of CFO departure
• Michael R. Tang (person) — Appointed Interim Chief Financial Officer
• May 01, 2024 (date) — Report date
• $1.64 billion (dollar_amount) — Second quarter fiscal year 2024 net revenue
• $1.30 (dollar_amount) — Second quarter fiscal year 2024 non-GAAP diluted earnings per share

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value A New York Stock Exchange

Filing Documents

• a-20240501.htm (8-K) — 44KB
• a-ex99_1.htm (EX-99) — 12KB
• 0000950123-24-003692.txt ( ) — 167KB
• a-20240501.xsd (EX-101.SCH) — 23KB
• a-20240501_htm.xml (XML) — 4KB

02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers. (b) On February 21, 2024, Agilent Technologies, Inc. (the " Company ") previously announced that Michael McMullen would retire as President and Chief Executive Officer (" CEO ") of the Company and as a member of the Company's Board of Directors (" Board ") effective May 1, 2024. Mr. McMullen will continue his employment with the Company as a senior adviser from May 1, 2024 through October 31, 2024, the end of the Company's fiscal year. (c) On May 1, 2024, Mr. McMullen retired as President and CEO of the Company and as a member of the Company's Board. The Board appointed Padraig McDonnell as CEO of the Company and as a member of the Company's Board. In connection with Mr. McDonnell's appointment as CEO, the Board will review and potentially approve certain changes to Mr. McDonnell's compensation package on May 21, 2024. The Company issued a press release on May 1, 2024 announcing Mr. McDonnell's appointment as CEO of the Company. A copy of the press release is attached as Exhibit 99.1 to this report and incorporated by reference herein.

01 - Financial Statements and Exhibits

Item 9.01 - Financial Statements and Exhibits. (d) Exhibits The following is furnished as an exhibit to this report and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended: Exhibit No. Description 99.1 Press release dated May 1, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. AGILENT TECHNOLOGIES, INC. Date: May 1, 2024 By: /s/ P. Diana Chiu Name: P. Diana Chiu Title: Vice President, Interim General Counsel & Secretary

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View this 8-K filing on SEC EDGAR