Illumina Q1 revenue beats on demand for NovaSeq X

Illumina

30/04/2026 21:15

Overview

Genomics technology firm's fiscal Q1 revenue rose 4.8% yr/yr, beating analyst expectations

Adjusted EPS for fiscal Q1 beat consensus

Company raised full-year revenue and EPS guidance; board authorized $1.5 bln share buyback

Outlook

Illumina raises full-year revenue guidance to $4.52-$4.62 bln, up $20 mln at midpoint

Company lifts 2026 non-GAAP diluted EPS guidance to $5.15-$5.30 from $5.05-$5.20

Illumina expects 2026 non-GAAP operating margin of 23.4%-23.6%, slightly above prior forecast

Result Drivers

NOVASEQ X DEMAND - Co said increasing demand for NovaSeq X, especially from clinical customers expanding into new applications, drove Q1 results

ORGANIC GROWTH - Co reported 3.5% rest-of-world organic revenue growth, with overall organic growth partly offset by currency and acquisition impacts

Company press release: ID:nPnM71JNa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$1.09 bln
$1.07 bln (16 Analysts)
Q1 Adjusted EPS
Beat
$1.15
$1.05 (17 Analysts)
Q1 EPS
$0.87
Q1 Gross Margin
66.10%
Q1 Adjusted EBIT Margin
21.90%
Q1 Adjusted Gross Margin
68.20%
Q1 EBIT Margin
19.20%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 9 "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 $140.00, about 16.3% above its April 29 closing price of $120.37

The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 26 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)