Earnings To Watch: Illumina (ILMN) Reports Q1 Results Tomorrow
Genomics company Illumina (NASDAQ:ILMN) will be announcing earnings results this Thursday afternoon. Here's what to expect.
Illumina beat analysts' revenue expectations by 2.1% last quarter, reporting revenues of $1.10 billion, flat year on year. It was a strong quarter for the company, with an impressive beat of analysts' full-year EPS guidance estimates.
Is Illumina a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Illumina's revenue to decline 1.9% year on year to $1.04 billion, in line with the 1.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.94 per share.
Illumina Total Revenue
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 missed Wall Street's revenue estimates four times over the last two years.
Looking at Illumina's peers in the life sciences tools & services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Medpace delivered year-on-year revenue growth of 9.3%, beating analysts' expectations by 6%, and Mettler-Toledo reported a revenue decline of 4.6%, topping estimates by 1%. Medpace traded down 2.1% following the results while Mettler-Toledo was up 4.3%.
Read our full analysis of Medpace's results here and Mettler-Toledo's results here.
There has been positive sentiment among investors in the life sciences tools & services segment, with share prices up 3.7% on average over the last month. Illumina is up 5.3% during the same time and is heading into earnings with an average analyst price target of $115.55 (compared to the current share price of $77.35).
Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next.
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