Overview

* Illumina ( ILMN ) 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 ( ILMN ) 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 ( ILMN ) 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 ( ILMN ) largest customer base, contributed to results

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

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $1.06 $1.05

Revenue bln bln (19

Analysts

)

Q2 Beat $1.19 $1.01

Adjusted (21

EPS Analysts

)

Q2 EPS $1.49

Q2 Beat $187 mln $160.90

Adjusted mln (17

Net Analysts

Income )

Q2 Net $235 mln

Income

Q2 Gross 65.6%

Margin

Q2 23.8%

Adjusted

EBIT

Margin

Q2 69.4%

Adjusted

Gross

Margin

Q2 EBIT 20.2%

Margin

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 ( ILMN ) 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:

(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.)