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Illumina (ILMN) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended September 2023, Illumina (ILMN - Free Report) reported revenue of $1.12 billion, up 0.4% over the same period last year. EPS came in at $0.33, compared to $0.34 in the year-ago quarter.
The reported revenue represents a surprise of -1.16% over the Zacks Consensus Estimate of $1.13 billion. With the consensus EPS estimate being $0.13, the EPS surprise was +153.85%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Illumina performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Geographic Revenue- Europe, Middle East, and Africa: $260 million compared to the $288.25 million average estimate based on two analysts.
Geographic Revenue- Greater China: $98 million compared to the $118.03 million average estimate based on two analysts. The reported number represents a change of -26.3% year over year.
Geographic Revenue- Asia: $98 million compared to the $112.35 million average estimate based on two analysts.
Geographic Revenue- United States: $650 million versus $616.89 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +9.8% change.
Revenue- GRAIL: $21 million versus $23.34 million estimated by six analysts on average.
Revenue- Core Illumina: $1.11 billion compared to the $1.12 billion average estimate based on five analysts.
Revenue- Service and other revenue: $178 million compared to the $175.45 million average estimate based on five analysts. The reported number represents a change of +17.1% year over year.
Revenue- Microarrays- Instruments: $3 million versus the five-analyst average estimate of $4.83 million. The reported number represents a year-over-year change of -40%.
Revenue- Microarrays- Consumables: $71 million versus the five-analyst average estimate of $76.43 million. The reported number represents a year-over-year change of -6.6%.
Revenue- Sequencing- Consumables: $695 million versus the five-analyst average estimate of $690.38 million. The reported number represents a year-over-year change of -4.1%.
Revenue- Sequencing- Instruments: $179 million versus $175.78 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +10.5% change.
Revenue- Product revenue: $941 million versus the four-analyst average estimate of $945.31 million. The reported number represents a year-over-year change of -2.3%.
Shares of Illumina have returned -19.7% over the past month versus the Zacks S&P 500 composite's +1.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Illumina (ILMN) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended September 2023, Illumina (ILMN - Free Report) reported revenue of $1.12 billion, up 0.4% over the same period last year. EPS came in at $0.33, compared to $0.34 in the year-ago quarter.
The reported revenue represents a surprise of -1.16% over the Zacks Consensus Estimate of $1.13 billion. With the consensus EPS estimate being $0.13, the EPS surprise was +153.85%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Illumina performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Geographic Revenue- Europe, Middle East, and Africa: $260 million compared to the $288.25 million average estimate based on two analysts.
- Geographic Revenue- Greater China: $98 million compared to the $118.03 million average estimate based on two analysts. The reported number represents a change of -26.3% year over year.
- Geographic Revenue- Asia: $98 million compared to the $112.35 million average estimate based on two analysts.
- Geographic Revenue- United States: $650 million versus $616.89 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +9.8% change.
- Revenue- GRAIL: $21 million versus $23.34 million estimated by six analysts on average.
- Revenue- Core Illumina: $1.11 billion compared to the $1.12 billion average estimate based on five analysts.
- Revenue- Service and other revenue: $178 million compared to the $175.45 million average estimate based on five analysts. The reported number represents a change of +17.1% year over year.
- Revenue- Microarrays- Instruments: $3 million versus the five-analyst average estimate of $4.83 million. The reported number represents a year-over-year change of -40%.
- Revenue- Microarrays- Consumables: $71 million versus the five-analyst average estimate of $76.43 million. The reported number represents a year-over-year change of -6.6%.
- Revenue- Sequencing- Consumables: $695 million versus the five-analyst average estimate of $690.38 million. The reported number represents a year-over-year change of -4.1%.
- Revenue- Sequencing- Instruments: $179 million versus $175.78 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +10.5% change.
- Revenue- Product revenue: $941 million versus the four-analyst average estimate of $945.31 million. The reported number represents a year-over-year change of -2.3%.
View all Key Company Metrics for Illumina here>>>Shares of Illumina have returned -19.7% over the past month versus the Zacks S&P 500 composite's +1.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.