Ahead of its presentation at the 43rd Annual J.P. Morgan Healthcare Conference, Illumina, Inc. (ILMN) announced its revised earnings forecast for the quarter. The company anticipates earnings to fall between $0.77 and $0.79 per share, with adjusted earnings ranging from $0.91 to $0.93 per share, based on a revenue figure around $1.10 billion. This marks an increase from the previous Core Illumina revenue estimate of approximately $1.07 billion.
Analysts surveyed by Thomson Reuters had projected the company to deliver earnings of $0.92 per share, with expected revenues of $1.07 billion for the same period, typically excluding any special items.
For fiscal year 2024, Illumina has adjusted its earnings forecast to a range of $5.65 to $5.67 per share, with adjusted earnings anticipated between $4.12 and $4.14 per share, based on a projected revenue of approximately $4.33 billion, indicating a 2% decrease. This is a revision from the earlier prediction, which placed Core Illumina's adjusted earnings between $4.05 and $4.15 per share, coinciding with an estimated revenue decline of about 3%.
Market expectations stand at $4.12 per share in earnings, reflecting a revenue decline of 4.07% to reach $4.32 billion for the year.
Looking forward to fiscal year 2025, Illumina projects approximately a 10% growth in adjusted earnings per share, with revenues expected to range from roughly $4.28 billion to $4.4 billion. This forecast includes constant currency revenue growth in the low single digits. The analyst community anticipates earnings to be at $4.43 per share with revenues reaching $4.48 billion for the year.
