On Thursday, shares of Agilent (A.US) surged more than 14% to $132.19. The catalyst was the company's release of its second-quarter fiscal 2026 earnings after market close on May 27, accompanied by an upward revision to its full-year guidance.

For the second quarter ended April 30, 2026, Agilent reported revenue of $1.83 billion, representing 10.0% reported growth and 6.3% core growth (excluding currency and M&A impacts). On a GAAP basis, the operating margin was 21.7%, with net income of $339 million and earnings per share (EPS) of $1.20, a 60% increase from the $0.75 EPS in Q2 of fiscal 2025. On a non-GAAP basis, the operating margin was 26.4%, expanding 130 basis points year-over-year and 180 basis points sequentially. Non-GAAP net income was $423 million, with EPS of $1.49, up 14% year-over-year.

Padraig McDonnell, Agilent's President and CEO, stated, "Agilent delivered an outstanding second quarter with strength across all major end markets, excellent operational execution, and strong margin performance. The growth momentum we continue to see across our businesses reflects the success of our customer-centric strategy, healthy underlying demand, and the increasing impact of the Ignite operating system across the organization."

Based on this continued operational momentum, Agilent raised its full-year fiscal 2026 guidance. The company now expects full-year revenue in the range of $7.39 billion to $7.49 billion, representing reported growth of 6.3% to 7.8% and core growth of 4.5% to 6.0%. The expected non-GAAP operating margin expansion was increased to 85 basis points. The non-GAAP EPS forecast was raised to a range of $6.00 to $6.10.

The company also provided guidance for the third fiscal quarter, projecting revenue between $1.83 billion and $1.85 billion and non-GAAP EPS between $1.48 and $1.50.