Genomics company Illumina (NASDAQ: ILMN) will be reporting results this Thursday after market close. Here’s what you need to know.
Illumina beat analysts’ revenue expectations by 1.8% last quarter, reporting revenues of $1.08 billion, flat year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ full-year EPS guidance estimates and a beat of analysts’ EPS estimates.
Is Illumina a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Illumina’s revenue to grow 1.8% year on year to $1.12 billion, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $1.25 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Illumina has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 0.8% on average.
Looking at Illumina’s peers in the life sciences tools & services segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Thermo Fisher delivered year-on-year revenue growth of 7.2%, beating analysts’ expectations by 2.1%, and Revvity reported revenues up 5.8%, topping estimates by 1.1%. Thermo Fisher traded down 4.8% following the results while Revvity was also down 7.1%.
Read our full analysis of Thermo Fisher’s results here and Revvity’s results here.
Investors in the life sciences tools & services segment have had fairly steady hands going into earnings, with share prices down 1.7% on average over the last month. Illumina is down 4% during the same time and is heading into earnings with an average analyst price target of $135.94 (compared to the current share price of $135.33).
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