Agilent Technologies, Inc. (NYSE:A) Q3 2023 Earnings Call Transcript

Sam Raha: Yes, I only add to what you guys said that Mike along with having more customers and actually more diversified set of customers, we’re going to be we’re contracted to do more programs next year than in the history of NASD. So it’s a yes, all full-speed ahead.

Luke Sergott: Got you. Got you. And then I didn’t – hear anybody asked about the ACG margin, maybe they did I missed it, but you guys had a material step-up there, can you talk about really what went on there, is that – is there any benefit that you saw from Mike lack of incentive comp just kind of break-out, where the drivers there and really how we should think about that in Q4, and as a jump-off point?

Mike McMullen: Yes, we did mention that there was a benefit, Luke, of the variable pay comp, obviously, that’s got a big component of people in it, but it’s also a reflection of the scale and – continued growth of that business. We didn’t say take that 32% I believe it was in Q3 and kind of book that as the new starting point. Because it had outsized growth. But we continue to be pleased and expect continued margin expansion for ACG going-forward.

Luke Sergott: All right, great. Thank you.

Operator: Thank you. Ladies and gentlemen, at this time I would like to turn things back to Parmeet Ahuja for any closing comments.

Parmeet Ahuja: Thanks Bo, and thanks everyone for joining the call today. With that, we’d like to end the call. Have a good day everyone.

Operator: Thank you, Parmeet. Ladies and gentlemen, this does conclude today’s call. Thank you for joining. We wish you all a great day. Goodbye.