Illumina falls on Q3 revenue miss

Illumina

30/10/2026 14:40

** Gene sequencing company Illumina ILMN.O shares fall 13.5% to $251
** Co late on Thursday reported Q3 revenue of $1.13 billion, missing estimates of $1.15 billion, as per LSEG data
** Revenue excluding tariff refunds was $1.17 billion
** Q3 EPS of $1.44 per share beats analyst estimates of $1.36 per share
** "Q3 was fine. The stock wasn't priced for "fine - we could see near-term pressure" - UBS analysts 
** Co said customer demand for its DNA sequencing platform, NovaSeq X, remains at very high levels with co placing over 80 instruments orders during the quarter
** "While NovaSeq X placements remain elevated at >80, the lack of flow through to instrument revenues is an issue, as is further q/q deceleration in clinical consumables" - Jefferies analysts   
** We anticipate shares to be pressured given typical Sequencing results that were lower than consensus, further muddied by tariff impacts, Citi analysts said
** Including session moves, tock up 90.2% YTD

 (Reporting by Sriparna Roy and Sneha S K in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))