Illumina Analysts Lower Their Forecasts After Q1 Results

Core Insights - Illumina, Inc. reported strong Q1 earnings with EPS of 97 cents, surpassing the analyst consensus estimate of 94 cents, and quarterly sales of $1.04 billion, exceeding the consensus estimate of $1.03 billion [1][2] - The company lowered its FY2025 adjusted EPS guidance from $4.50 to a range of $4.20-$4.30, anticipating a core revenue decline of 1% to 3% on a constant currency basis year over year [2] Financial Performance - Q1 earnings per share (EPS): 97 cents, beating the estimate of 94 cents [1] - Q1 sales: $1.04 billion, exceeding the estimate of $1.03 billion [1] - FY2025 adjusted EPS guidance revised down to $4.20-$4.30 from $4.50 [2] - Expected core revenue decline: 1% to 3% year over year on a constant currency basis [2] Market Reaction - Illumina shares increased by 5.5%, trading at $79.92 following the earnings announcement [3] - Analysts adjusted their price targets post-earnings, with Canaccord Genuity lowering the target from $92 to $87 and Morgan Stanley reducing it from $136 to $100 [8]