- Illumina reported second-quarter revenue of $1.11 billion, surpassing estimates of $1.09 billion.
- Product revenue for the quarter was $927 million.
- Service and other revenue amounted to $185 million.
- The company achieved an adjusted gross margin of 69%, exceeding the estimated 66.1%.
- Illumina’s cash and cash equivalents stood at $920 million, below the estimate of $1.32 billion.
- Guidance for Core Illumina non-GAAP diluted EPS is set in the range of $3.80 to $3.95 for fiscal year 2024.
- For fiscal year 2024, Core Illumina revenue guidance has been lowered to decline by 2% to 3% (1.5% to 2.5% in constant currency) compared to fiscal year 2023.
- Non-GAAP operating margin guidance for Core Illumina has been raised to a range of 20.5% to 21% for fiscal year 2024.
- CEO Jacob Thaysen highlighted the company’s disciplined execution on strategic priorities as a key driver of performance.
- According to analyst ratings: 12 buys, 12 holds, and 3 sells.
Illumina Inc on Smartkarma
Analysts on Smartkarma, like Baptista Research, are closely monitoring Illumina Inc‘s market performance. In a report titled “Illumina Inc.: Will Its Market Dominance In Genetic Analysis Last? – Major Drivers,” they highlight the company’s strong first quarter of 2024. The quarter saw impressive results from high throughput consumables, increased revenue from partnerships, and successful NovaSeq X instruments deliveries. However, CEO Jacob Thaysen is cautious due to global economic uncertainties impacting customer purchasing decisions. Despite challenges posed by the pandemic, Illumina’s performance remains promising.
In another report by Baptista Research, “Illumina Inc: Will Its Market Dominance In Genetic Analysis Last In The Long Term? – Major Drivers,” analysts discuss the company’s successful 2023 but anticipate challenges in 2024 due to macroeconomic hurdles. Illumina exceeded expectations with around $1.12 billion in consolidated revenue in the fourth quarter of 2023, showing a 4% year-over-year growth. CEO Thaysen has highlighted the launch of NovaSeq X as a significant achievement for the company. As Illumina navigates market uncertainties, analysts are optimistic about its long-term prospects despite short-term challenges.
A look at Illumina Inc Smart Scores
Factor | Score | Magnitude |
---|---|---|
Value | 3 | |
Dividend | 1 | |
Growth | 2 | |
Resilience | 3 | |
Momentum | 3 | |
OVERALL SMART SCORE | 2.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, Illumina Inc appears to have a mixed long-term outlook. With a moderate score in value, the company is perceived to offer fair investment value. However, its low score in dividends suggests that it may not be an attractive option for investors seeking regular income. In terms of growth and momentum, Illumina Inc received average scores, indicating a moderate potential for future growth and market performance. On the other hand, the company’s resilience score is relatively strong, highlighting its ability to withstand market challenges and maintain stability over time.
Illumina, Inc. is a leading developer, manufacturer, and marketer of integrated systems for genetic variation and biological function analysis. Its diverse range of products and services cater to the needs of genomic research centers, pharmaceutical firms, academic institutions, and biotechnology companies. Despite the varied Smartkarma Smart Scores, Illumina Inc‘s overall outlook suggests a company that holds promise for long-term investment, supported by its resilience and position in the genetic analysis market.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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