Agilent Technologies Inc. (NYSE:A) Q2 2020 Earnings Conference Call - Final Transcript

May 21, 2020 • 04:30 pm ET


Agilent Technologies Inc. (NYSE:A) Q2 2020 Earnings Conference Call - Final Transcript


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Good afternoon and welcome to the Agilent Technologies' Second Quarter Earnings Conference Call. [Operator Instructions] After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.

And now I'd like to introduce you to the host for today's conference, Ankur Dhingra, Vice President of Investor Relations. Sir, please go ahead.

Ankur Dhingra

Thank you, Jodi, and welcome everyone to Agilent's conference call for the second quarter of fiscal year 2020. I hope that all of you and your families are safe and healthy. On the webcast today are Mike McMullen, Agilent's President and CEO; and Bob McMahon, Agilent's Senior Vice President and CFO. Joining for the Q&A after prepared remarks will be Jacob Thaysen, President of Agilent's Life Science and Applied Markets Group; and Sam Raha, President of Agilent's Diagnostics and Genomics Group, along with Padraig McDonnell, President of the Agilent CrossLab Group. You can find the press release, investor presentation and information to supplement today's discussion on our website at

Today's comments by Mike and Bob will refer to non-GAAP financial measures. You will find the most directly comparable GAAP financial metrics and reconciliations on our website. Unless otherwise noted, all references to increases or decreases in financial metrics are year-over-year and revenue growth will be referred to on a core basis. Core revenue growth excludes the impact of currency and the acquisitions and divestitures completed within the past 12 months. We will also make forward-looking statements about the financial performance of the company. These statements are subject to risks and uncertainties and are only valid as of today. The company assumes no obligation to update them. Please look at the company's recent SEC filings for a more complete picture of our risks and other factors.

And now, I'd like to turn the call over to Mike.

Mike McMullen

Thanks, Ankur and thanks, everyone for joining our call today. I want to add my best wishes as well and hope that you and your families are safe and healthy. I'm pleased to have Padraig McDonnel, our President of the Agilent CrossLab Group joining us for the first time today. As I mentioned last quarter, Mark Doak has retired from the company and Padraig is now leading ACG. I know you will enjoy getting to know Padraig better in his new role and I'm glad he can be here with us on the call.

Last quarter, Agilent was among the first to discuss the business impacts of COVID-19. Since then, much has changed as COVID-19 is now a global pandemic. The world is a very different place than it was back in February, but what hasn't changed is the attitude and execution of the Agilent team and our unwavering focus in four key areas. Let me first talk about how we are protecting our people. Our top priority is ensuring the health and safety of the Agilent team. Early on we instituted a global work from home policy and severely restricted travel. We implemented new work practices and safety protocols for