Why Illumina (ILMN) is Poised to Beat Earnings Estimates Again

Core Insights - Illumina is well-positioned to continue its earnings-beat streak in the upcoming report, having surpassed earnings estimates significantly in the last two quarters [1][2] - The company reported earnings of $1.14 per share for the last quarter, exceeding the Zacks Consensus Estimate of $0.87 per share by 31.03%, and previously reported earnings of $0.36 per share against an estimate of $0.12 per share, resulting in a 200% surprise [2] Earnings Performance - Illumina has an average earnings surprise of 115.52% over the last two quarters, indicating strong performance [1] - Recent estimates for Illumina have been revised upwards, contributing to a positive Earnings ESP of +1.94%, suggesting bullish sentiment among analysts regarding the company's earnings prospects [3][6] Predictive Metrics - The combination of a positive Earnings ESP and a Zacks Rank of 3 (Hold) suggests a high likelihood of another earnings beat, with historical data indicating that nearly 70% of stocks with this combination produce positive surprises [4][6] - The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, with the Most Accurate Estimate reflecting the latest analyst revisions, which are often more accurate [5] Upcoming Earnings Report - Illumina's next earnings report is expected to be released on February 6, 2025, and the current positive indicators suggest a favorable outlook for the company [6]