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Illumina (ILMN) Reports Q1 Earnings: What Key Metrics Have to Say
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Illumina (ILMN - Free Report) reported $1.08 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 1%. EPS of $0.09 for the same period compares to $0.08 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.05 billion, representing a surprise of +2.06%. The company delivered an EPS surprise of +200.00%, with the consensus EPS estimate being $0.03.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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:
Revenue- GRAIL: $27 million versus $27.06 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +35% change.
Revenue- Microarrays- Consumables: $71 million versus $73.73 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -9% change.
Revenue- Microarrays- Instruments: $4 million compared to the $5.05 million average estimate based on three analysts. The reported number represents a change of -33.3% year over year.
Revenue- Core Illumina: $1.06 billion versus the three-analyst average estimate of $1.03 billion. The reported number represents a year-over-year change of -1.9%.
Revenue- Sequencing- Instruments: $110 million compared to the $113.02 million average estimate based on three analysts. The reported number represents a change of -28.6% year over year.
Revenue- Product revenue: $876 million versus the three-analyst average estimate of $885.63 million. The reported number represents a year-over-year change of -5%.
Revenues- Core Illumina- Service and other revenue: $173 million compared to the $145.69 million average estimate based on three analysts.
Revenues- Core Illumina- Total product revenue: $883 million versus $886.62 million estimated by three analysts on average.
Revenue- Sequencing- Consumables: $698 million compared to the $693.83 million average estimate based on three analysts. The reported number represents a change of +0.9% year over year.
Revenue- Service and other revenue: $200 million versus $173.40 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +21.2% change.
Revenue- Sequencing- Service & Other: $151 million compared to the $116.62 million average estimate based on two analysts. The reported number represents a change of +26.9% year over year.
Revenue- Microarrays- Service & Other: $22 million compared to the $30.33 million average estimate based on two analysts. The reported number represents a change of -18.5% year over year.
Shares of Illumina have returned -2.4% over the past month versus the Zacks S&P 500 composite's -4.2% 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) Reports Q1 Earnings: What Key Metrics Have to Say
Illumina (ILMN - Free Report) reported $1.08 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 1%. EPS of $0.09 for the same period compares to $0.08 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.05 billion, representing a surprise of +2.06%. The company delivered an EPS surprise of +200.00%, with the consensus EPS estimate being $0.03.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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:
- Revenue- GRAIL: $27 million versus $27.06 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +35% change.
- Revenue- Microarrays- Consumables: $71 million versus $73.73 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -9% change.
- Revenue- Microarrays- Instruments: $4 million compared to the $5.05 million average estimate based on three analysts. The reported number represents a change of -33.3% year over year.
- Revenue- Core Illumina: $1.06 billion versus the three-analyst average estimate of $1.03 billion. The reported number represents a year-over-year change of -1.9%.
- Revenue- Sequencing- Instruments: $110 million compared to the $113.02 million average estimate based on three analysts. The reported number represents a change of -28.6% year over year.
- Revenue- Product revenue: $876 million versus the three-analyst average estimate of $885.63 million. The reported number represents a year-over-year change of -5%.
- Revenues- Core Illumina- Service and other revenue: $173 million compared to the $145.69 million average estimate based on three analysts.
- Revenues- Core Illumina- Total product revenue: $883 million versus $886.62 million estimated by three analysts on average.
- Revenue- Sequencing- Consumables: $698 million compared to the $693.83 million average estimate based on three analysts. The reported number represents a change of +0.9% year over year.
- Revenue- Service and other revenue: $200 million versus $173.40 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +21.2% change.
- Revenue- Sequencing- Service & Other: $151 million compared to the $116.62 million average estimate based on two analysts. The reported number represents a change of +26.9% year over year.
- Revenue- Microarrays- Service & Other: $22 million compared to the $30.33 million average estimate based on two analysts. The reported number represents a change of -18.5% year over year.
View all Key Company Metrics for Illumina here>>>Shares of Illumina have returned -2.4% over the past month versus the Zacks S&P 500 composite's -4.2% 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.