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Illumina Q3 revenue rises but misses estimates; lifts outlook

By Reuters News


Overview

  • DNA sequencing tech firm's fiscal Q3 revenue rose 4% yr/yr but missed analyst expectations

  • Adjusted EPS for fiscal Q3 beat analyst expectations

  • Company raised full-year revenue and earnings guidance, citing clinical demand and NovaSeq X placements


Outlook

  • Illumina raises 2026 revenue guidance to $4.64-$4.66 bln, up from $4.60-$4.64 bln

  • Company now sees 2026 non-GAAP diluted EPS at $5.40-$5.45, up from $5.30-$5.40

  • Illumina maintains 2026 organic revenue growth outlook above 4% and ROW organic growth above 5%


Result Drivers

  • CLINICAL DEMAND - Co said healthy clinical demand contributed to Q3 results

  • NOVASEQ X PLACEMENTS - Robust NovaSeq X placements supported Q3 performance, per CEO Jacob Thaysen


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Miss

$1.13 bln

$1.15 bln (18 Analysts)

Q3 Adjusted EPS

Beat

$1.62

$1.36 (18 Analysts)

Q3 EPS

$1.43

Q3 Gross Margin

73.50%

Q3 Adjusted Gross Margin

75.30%

Q3 EBIT Margin

27.00%


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 10 "strong buy" or "buy", 9 "hold" and 3 "sell" or "strong sell"

  • The average consensus recommendation for the advanced medical equipment & technology peer group is "buy."

  • Wall Street's median 12-month price target for Illumina Inc is $272.50, about 5.6% below its October 28 closing price of $288.79

  • The stock recently traded at 48 times the next 12-month earnings vs. a P/E of 32 three months ago


Reuters Recommended Reads

  • Oct 27 - Seagate Technology Q1 revenue and adjusted EPS beat estimates

  • Oct 28 - Avantor raises FY revenue growth, profit guidance after Q3 beat

  • Oct 28 - Biogen Q3 revenue beats on Apellis acquisition, product demand


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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