Genomics company Illumina (NASDAQ: ILMN) will be reporting earnings this Thursday afternoon. Here’s what to expect.
Illumina beat analysts’ revenue expectations by 0.5% last quarter, reporting revenues of $1.04 billion, down 1.4% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ EPS guidance for next quarter 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 4% year on year to $1.05 billion, improving from the 5.8% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.01 per share.
Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing 5 upward revisions over the last 30 days (we track 16 analysts). Illumina has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Illumina’s peers in the life sciences tools & services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. West Pharmaceutical Services delivered year-on-year revenue growth of 9.2%, beating analysts’ expectations by 5.6%, and Medpace reported revenues up 14.2%, topping estimates by 11.3%. West Pharmaceutical Services traded up 15.9% following the results while Medpace was also up 54.6%.
Read our full analysis of West Pharmaceutical Services’s results here and Medpace’s results here.
Investors in the life sciences tools & services segment have had fairly steady hands going into earnings, with share prices down 1.8% on average over the last month. Illumina is up 14.2% during the same time and is heading into earnings with an average analyst price target of $108.86 (compared to the current share price of $109).
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.
StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
