Genomics company Illumina (NASDAQ: ILMN) will be announcing earnings results this Thursday after market close. Here’s what to expect.
Illumina beat analysts’ revenue expectations last quarter, reporting revenues of $1.09 billion, up 4.8% year on year. It was a strong quarter for the company, with a solid beat of analysts’ full-year EPS guidance estimates and a beat of analysts’ EPS estimates.
Is Illumina a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Illumina’s revenue to grow 6.7% year on year, a reversal from the 3% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Illumina rarely misses Wall Street’s revenue estimates.
Looking at Illumina’s peers in the life sciences tools & services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Medpace delivered year-on-year revenue growth of 17.2%, beating analysts’ expectations by 2.6%, and West Pharmaceutical Services reported revenues up 13.8%, topping estimates by 3.5%. Medpace traded up 14.7% following the results while West Pharmaceutical Services was down 8.5%.
Read our full analysis of Medpace’s results here and West Pharmaceutical Services’s results here.
There has been positive sentiment among investors in the life sciences tools & services segment, with share prices up 4.4% on average over the last month. Illumina is up 7.1% during the same time and is heading into earnings with an average analyst price target of $172.53 (compared to the current share price of $193.91).
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