Illumina Q3 revenue rises but misses estimates; lifts outlook

Illumina

29/10/2026 20:24

Overview
DNA sequencing tech firm's fiscal Q3 revenue rose 4% yr/yr but missed analyst expectations
Adjusted EPS for fiscal Q3 beat analyst expectations
Company raised full-year revenue and earnings guidance, citing clinical demand and NovaSeq X placements

Outlook
Illumina raises 2026 revenue guidance to $4.64-$4.66 bln, up from $4.60-$4.64 bln
Company now sees 2026 non-GAAP diluted EPS at $5.40-$5.45, up from $5.30-$5.40
Illumina maintains 2026 organic revenue growth outlook above 4% and ROW organic growth above 5%

Result Drivers
CLINICAL DEMAND - Co said healthy clinical demand contributed to Q3 results
NOVASEQ X PLACEMENTS - Robust NovaSeq X placements supported Q3 performance, per CEO Jacob Thaysen

Company press release: ID:nPn3V59cxa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Miss
$1.13 bln
$1.15 bln (18 Analysts)
Q3 Adjusted EPS
Beat
$1.62
$1.36 (18 Analysts)
Q3 EPS
 
$1.43
 
Q3 Gross Margin
 
73.50%
 
Q3 Adjusted Gross Margin
 
75.30%
 
Q3 EBIT Margin
 
27.00%
 

Analyst Coverage
The current average analyst rating on the shares is "hold" 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 $272.50, about 5.6% below its October 28 closing price of $288.79
The stock recently traded at 48 times the next 12-month earnings vs. a P/E of 32 three months ago

Reuters Recommended Reads
Oct 27 - Seagate Technology Q1 revenue and adjusted EPS beat estimates
Oct 28 - Avantor raises FY revenue growth, profit guidance after Q3 beat
Oct 28 - Biogen Q3 revenue beats on Apellis acquisition, product demand

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.)