Illumina Q1 Revenue Climbs 4.8% to $1.09B; Authorizes $1.5B Buyback
ILMN•Illumina reported Q1 revenue of $1.09 billion, up 4.8% year-over-year, beating $1.07 billion consensus estimates. GAAP EPS was $0.87, missing $1.05 forecasts, while non-GAAP EPS hit $1.15, as full-year guidance was raised and a $1.5 billion buyback authorized.
1. First-Quarter Performance
Illumina delivered revenue of $1.09 billion, up 4.8% year-over-year, surpassing analyst forecasts of $1.07 billion on strong demand for its NovaSeq X sequencing platforms.
2. EPS Breakdown
GAAP EPS came in at $0.87, below the $1.05 consensus, while non-GAAP EPS reached $1.15 by excluding one-time and acquisition-related costs, underscoring core profitability.
3. Guidance Raise and Buyback
The company increased full-year revenue guidance to $4.52–$4.62 billion and non-GAAP EPS outlook to $5.15–$5.30, and approved a $1.5 billion share repurchase program.
4. Financial Health Metrics
At quarter end, Illumina held $1.16 billion in cash, maintained a debt-to-equity ratio of 0.94 and a current ratio of 2.08, indicating balanced leverage and strong liquidity.
