Illumina Q2 revenue beats estimates, raises FY revenue outlook
ILMN•Q2 results beat estimates
Illumina said fiscal second-quarter revenue rose 9.5%, beating analyst expectations. Adjusted EPS for fiscal Q2 also beat analyst expectations.
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Beat | $1.16 bln | $1.13 bln (16 Analysts) |
| Q2 Adjusted EPS | Beat | $1.31 | $1.23 (16 Analysts) |
| Q2 EPS | $1.35 | ||
| Q2 Gross Margin | 66.40% | ||
| Q2 Adjusted EBIT Margin | 22.50% | ||
| Q2 Adjusted Gross Margin | 68.20% | ||
| Q2 EBIT Margin | 21.10% |
Drivers and analyst coverage
The company said growth was driven by clinical customers expanding sequencing-intensive applications. Illumina also cited high demand for its NovaSeq X platform and expansion of workflow and multiomics capabilities.
Rest-of-world organic revenue growth, excluding China, was 8.1% in Q2.
The current average analyst rating on the shares is buy, with 12 strong buy or buy, 7 hold and 3 sell or strong sell recommendations. The average consensus recommendation for the advanced medical equipment and technology peer group is .
