Illumina Boosts FY24 Outlook

(RTTNews) - Ahead of its presentation at the 43rd Annual J.P. Morgan Healthcare Conference later on Tuesday, Illumina, Inc. (ILMN) said it expects earnings in a range of approximately $0.77 to $0.79 per share and adjusted earnings in a range of approximately $0.91 to $0.93 per share on revenue of approximately $1.10 billion. Previously, Core Illumina revenue was expected at about $1.07 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.92 per share on revenues of $1.07 billion for the quarter. Analysts' estimates typically exclude special items.

For fiscal 2024, the company now projects earnings in a range of approximately $5.65 to $5.67 per share and adjusted earnings in a range of approximately $4.12 to $4.14 per share on revenue of approximately $4.33 billion, a decline of 2 percent.

Previously, the company expected Core Illumina adjusted earnings in the range of $4.05 to $4.15 per share on a revenue decline of about 3 percent.

The Street is looking for earnings of $4.12 per share on a revenue decline of 4.07 percent to $4.32 billion for the year.

Looking ahead to fiscal 2025, the company now projects adjusted earnings per share growth of approximately 10 percent on revenues between approximately $4.28 billion and $4.4 billion, with constant currency revenue growth in the low single digits. Analysts expect earnings of $4.43 per share on revenues of $4.48 billion for the year.

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