Keysight Technologies, Inc. (NYSE:KEYS) Q4 2023 Earnings Conference Call November 20, 2023 4:30 PM ET

Company Participants

Jason Kary - Vice President, Treasurer, and Investor Relations

Satish Dhanasekaran - President and Chief Executive Officer

Neil Dougherty - Executive Vice President and Chief Financial Officer

Mark Wallace - Senior Vice President, Global Sales and Chief Customer Officer

Conference Call Participants

Meta Marshall - Morgan Stanley

Samik Chatterjee - JPMorgan

Robert Mason - Baird

Aaron Rakers - Wells Fargo

Christopher Snyder - UBS

Mark Delaney - Goldman Sachs

Adam Thalhimer - Thompson Davis

Atif Malik - Citi

Matthew Niknam - Deutsche Bank

Tim Long - Barclays

David Ridley-Lane - Bank of America

Operator

Good day, ladies and gentlemen, and welcome to the Keysight Technologies Fiscal Fourth Quarter 2023 Earnings Conference Call. My name is Sarah, and I'll be your lead operator today. [Operator Instructions] This call is being recorded today, Monday, November 20th, 2023 at 1:30 P.M. Pacific Time.

I would now like to hand the call over to Jason Kary, Vice President, Treasurer and Investor Relations. Please go ahead.

Jason Kary

Thank you, and welcome everyone to Keysight's Fourth Quarter Earnings Conference Call for Fiscal Year 2023. Joining me are Keysight's President and CEO, Satish Dhanasekaran; and our CFO, Neil Dougherty. In the Q&A session, we'll be joined by Chief Customer Officer, Mark Wallace. The press release and information that supplement today's discussion are on our website at investor.keysight.com under the financial information and quarterly reports.

Today's comments will refer to non-GAAP financial measures. We will also make reference to core growth, which excludes the impact of currency movements and acquisitions or divestitures completed within the last 12 months. The most directly-comparable GAAP financial metrics and reconciliations are on our website and all comparisons are on a year-over-year basis, unless otherwise noted.

We will make forward-looking statements about the financial performance of the company on today's call. These statements are subject to risks and uncertainties and are only valid as of today. We assume no obligation to update them and encourage you to review our recent SEC filings for a more complete view of these risks and other factors. Lastly, management is scheduled to participate in upcoming investor conferences hosted by Wells Fargo and UBS.

And now I will turn the call over to Satish.

Satish Dhanasekaran

Good afternoon, everyone, and thank you for joining us. My comments today will focus on three key headlines. First, Keysight reported solid fourth quarter results and finished the year with record revenue, gross margins and operating margin, in what remains a challenging macro environment. Fourth quarter revenue and earnings per share exceeded the high end of our guidance, as orders came in slightly ahead of expectations.