Agilent Technologies, Inc. (NYSE:A) Q4 2023 Earnings Call Transcript

Mike McMullen: Yes, I think first of all, just to remind the audience, when we talk about the genomics mix business, what are we talking about? We got a $500 million business, probably 50% of it is in QA/QC instrumentation, where we are the undisputed leader here, a lot of appetite to invest here. Our TapeStation product, particularly the consumables business is on fire right now. Capital side is constrained as we’ve seen across the marketplace. And then I think we all believe in the view that NGS will continue to be a growth market for us. And for the industry, I think that people are dying on back their expectations about how robust it is for a period of time. And I think we’re seeing that in our business. So why do we make some of the structure changes we made in the portfolio because we want to ensure that we’ve got the ability to have a healthy P&L while at the same point in time invest in growth.

So there’s a reallocation of R&D dollars happening as a result of some of the changes we made that we talked about over the call. So answer the story is we have a lot of appetite for focused investments in areas where we think we can win in genomics.

Operator: And ladies and gentlemen, that is all the time we have for questions this afternoon. I’d like to turn things back to you Mr. Ahuja for any closing comments.

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

Operator: Thank you. Again, ladies and gentlemen, that will conclude the Agilent Technologies Q4 2023 Earnings Call. Again, thanks for joining us, and we wish you all a great evening. Goodbye.