-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
Illumina reported Q1 2026 adjusted EPS of $1.15, up 18.6% Y/Y and beating the $1.05 consensus estimate, while revenue grew 4.8% to $1.091B. Operating leverage was evident, with adjusted operating margin expanding 150 bps Y/Y to 21.9% due to consumables growth of 4.3% to $726M and instruments up 8.3% to $118M. The instrument growth suggests continued NovaSeq X adoption momentum, while rest-of-world organic revenue growth of 3.5% indicates healthy demand outside of China (declined 29% organically). ILMN raised full-year guidance, increasing revenue expectations by $20M at the midpoint to $4.52B-4.62B and adjusted EPS to $5.15-5.30 from $5.05-5.20. We view the recently-completed SomaLogic acquisition positively, as it expands ILMN's addressable market into proteomics and strengthens its multiomics portfolio. Strong cash generation was also present, with operating cash flow up 20.4% to $289M, supporting the newly-authorized $1.5B share repurchase program.