Illumina Q2 revenue beats estimates, raises FY revenue outlook

Illumina

30/07/2026 21:28

Overview
U.S. DNA sequencing firm's fiscal Q2 revenue rose 9.5%, beating analyst expectations
Adjusted EPS for fiscal Q2 beat analyst expectations
Company raised full-year 2026 revenue and adjusted EPS guidance

Outlook
Illumina raises FY 2026 revenue guidance to $4.60-$4.64 bln from $4.52-$4.62 bln
Company expects FY 2026 non-GAAP diluted EPS of $5.30-$5.40, up from $5.15-$5.30
Illumina sees FY 2026 ROW organic revenue growth above 5%, previously 2%-4%

Result Drivers
CLINICAL APPLICATIONS - Co said growth was driven by clinical customers expanding sequencing-intensive applications
NOVASEQ X DEMAND - Co cited high demand for NovaSeq X platform and expansion of workflow and multiomics capabilities
STRONG ROW GROWTH - Rest-of-world organic revenue growth, excluding China, was 8.1% in Q2

Company press release: ID:nPn64jzLta

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$1.16 bln
$1.13 bln (16 Analysts)
Q2 Adjusted EPS
Beat
$1.31
$1.23 (16 Analysts)
Q2 EPS
 
$1.35
 
Q2 Gross Margin
 
66.40%
 
Q2 Adjusted EBIT Margin
 
22.50%
 
Q2 Adjusted Gross Margin
 
68.20%
 
Q2 EBIT Margin
 
21.10%
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 7 "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 $170.00, about 12.7% below its July 29 closing price of $194.82
The stock recently traded at 35 times the next 12-month earnings vs. a P/E of 23 three months ago

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July 28 - Repligen Q2 revenue beats estimates on higher orders; raises outlook

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.)