Overview

• Illumina Q2 fiscal revenue falls 3% yr/yr, but beats analysts' expectations, per LSEG data

• Adjusted EPS beats expectations, per LSEG data

• Co announces agreement to acquire SomaLogic, expanding strategic footprint

Outlook

• Illumina expects FY 2025 revenue decline of 2.5% to 0.5%

• Company raises FY 2025 non-GAAP EPS guidance to $4.45-$4.55

• Illumina sees FY 2025 non-GAAP operating margin at 22%-22.5%

Result Drivers

• X CONSUMABLES - Continued ramp in X consumables drove revenue results, per CEO Jacob Thaysen

• CLINICAL SEGMENT - Accelerating growth in clinical segment, Illumina's largest customer base, contributed to results

• OPERATIONAL EXCELLENCE - Focus on operational excellence helped drive margin expansion, per CEO Jacob Thaysen

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 9 "strong buy" or "buy", 12 "hold" and 3 "sell" or "strong sell"

• The average consensus recommendation for the advanced medical equipment & technology peer group is "buy."

• Wall Street's median 12-month price target for Illumina Inc is $105.00, about 1.6% below its July 30 closing price of $106.66

• The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 17 three months ago

Press Release: ID:nPn40gK1Ca

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)