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

From the Filing

0000950123-24-003692.txt : 20240501 0000950123-24-003692.hdr.sgml : 20240501 20240501094217 ACCESSION NUMBER: 0000950123-24-003692 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 12 CONFORMED PERIOD OF REPORT: 20240501 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240501 DATE AS OF CHANGE: 20240501 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AGILENT TECHNOLOGIES, INC. CENTRAL INDEX KEY: 0001090872 STANDARD INDUSTRIAL CLASSIFICATION: LABORATORY ANALYTICAL INSTRUMENTS [3826] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 770518772 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-15405 FILM NUMBER: 24900621 BUSINESS ADDRESS: STREET 1: 5301 STEVENS CREEK BLVD CITY: SANTA CLARA STATE: CA ZIP: 95051 BUSINESS PHONE: (408) 345-8886 MAIL ADDRESS: STREET 1: 5301 STEVENS CREEK BLVD, MS 1A-LC STREET 2: P.O. BOX 58059 CITY: SANTA CLARA STATE: CA ZIP: 95052-8059 FORMER COMPANY: FORMER CONFORMED NAME: AGILENT TECHNOLOGIES INC DATE OF NAME CHANGE: 19990816 FORMER COMPANY: FORMER CONFORMED NAME: HP MEASUREMENT INC DATE OF NAME CHANGE: 19990716 8-K 1 a-20240501.htm 8-K 8-K 0001090872 false 0001090872 2024-05-01 2024-05-01   UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549   FORM 8-K   CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 01, 2024     AGILENT TECHNOLOGIES, INC. (Exact name of Registrant as Specified in Its Charter)     Delaware 001-15405 77-0518772 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.)           5301 Stevens Creek Boulevard   Santa Clara , California   95051 (Address of Principal Executive Offices)   (Zip Code)   Registrant’s Telephone Number, Including Area Code: 800 227-9770     (Former Name or Former Address, if Changed Since Last Report)   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock, $0.01 par value   A   New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐   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 (&