Earnings Data
Report Date
Aug 12, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.98Last Year’s EPS
0.95Same Quarter Last Year
Moderate Buy
Based on 13 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a clear beat in Q1 with multiple key operational and financial positives: revenue and EPS outperformance, strong clinical consumables growth (~20% ex-China), robust NovaSeq X placements (80+ in the quarter), margin expansion, and an upwardly revised full-year guide. Offsetting items include continued weakness in research & applied consumables (down ~12% ex-China), a 20% decline in microarrays RoW organic, supply constraints on NovaSeq X that require scaling investments, and near-term inflationary pressures impacting Q2 margins. Management framed the negatives as transitory or manageable and emphasized product innovation, strong cash flow, and progress toward 2027 targets.Company Guidance
Top-Line Beat and Raised Full-Year Guidance
Q1 revenue of $1.09 billion, up 4.8% year-over-year (1.2% organic); came in $20 million above the midpoint of guidance. Company raised 2026 revenue guidance by $20 million to $4.52B–$4.62B and nudged EPS and margin guidance higher.
Strong Sequencing Consumables and Clinical Demand
Sequencing consumables revenue of $726 million, up 4% YoY; Rest of World organic consumables growth ~5%. Clinical consumables grew ~20% ex-China for the second consecutive quarter and represented >65% of sequencing consumables revenue in Q1.
Robust NovaSeq X Placements and Installed-Base Transition
Over 80 NovaSeq X placements in Q1 (~20 more than Q1 2025). As of Q1 roughly 82% of volumes and 55% of revenue transitioned to NovaSeq X; 90% of research & applied volume and 76% of clinical volume now on X with target of 80–85% clinical on X by end of 2026.
Sequencing Throughput and Instrument Momentum
Total sequencing GB output on connected high- and mid-throughput instruments grew >30% YoY. Sequencing instruments revenue was $118 million, up 9% YoY (Rest of World organic instrument growth ~10%).
Margin and EPS Expansion
Non‑GAAP gross margin of 68.2% (up ~80 bps YoY). Non‑GAAP operating margin 21.9% (expanding ~150 bps YoY). Non‑GAAP diluted EPS of $1.15 in Q1, up ~19% YoY and ~$0.10 above guidance midpoint. Full-year operating margin guidance raised to 23.4%–23.6%.
Strong Cash Generation and Capital Allocation
Cash flow from operations $289 million; free cash flow $251 million in Q1. Repurchased 2 million shares for $242 million; board authorized an additional $1.5 billion share repurchase program. Ending cash and equivalents ~$1.16 billion; gross leverage ~1.5x gross debt to LTM EBITDA.
Strategic M&A and Product Innovation
Closed SomaLogic acquisition (net cash payment ~$363 million); business performing in line with expectations. Product and R&D progress: TruePath launch (WGS with ~10 minutes hands-on prep), spatial transcriptomics early access with planned launch later in 2026, 18‑month NovaSeq X roadmap (14B and 35B flow cells, staggered runs, Q70 improvements), and BioInsight/billion cell atlas program.
Improving Long-Range Trajectory
Management reiterated pathway to high single-digit revenue growth, continued margin expansion (~350 bps implied by end of 2026 ex-acquisitions) and double-digit to teens EPS growth toward 2027 targets, reflecting confidence after Q1 outperformance.
CH:ILU Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
FAQ
When does Illumina (CH:ILU) report earnings?
Illumina (CH:ILU) is schdueled to report earning on Aug 12, 2026, After Close (Confirmed).
What is Illumina (CH:ILU) earnings time?
Illumina (CH:ILU) earnings time is at Aug 12, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of Illumina stock?
The P/E ratio of Illumina is N/A.
What is CH:ILU EPS forecast?
CH:ILU EPS forecast for the fiscal quarter 2026 (Q2) is 0.98.
