Illumina's Q1 Revenue Drop, Dwindling Margins: Outlines Cost Cutting Plans With $100M Savings


20-Year Pro Trader Reveals His "MoneyLine"

Ditch your indicators and use the "MoneyLine." A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.


  • In its Q1 earnings release, Illumina Inc (NASDAQ:ILMN) unveiled plans to accelerate margin improvement and create flexibility for further investment in high-growth areas.
  • The company aims to reduce its annualized run rate expenses by more than $100 million starting later this year.
  • Q1 Revenue of $1.09 billion was down 11% Y/Y (down 9% on a constant currency basis), beating the consensus of $1.07 billion.
  • Adjusted EPS of $0.08 declined from $1.07 a year ago, beating the consensus of $0.02.
  • Also Read: Carl Icahn Steps Up Battle With Illumina, Says Directors Asked Additional Insurance For Grail Deal.
  • The company reported gross margins of 60.3% for the period, down from 66.6% during the year-earlier period.
  • Illumina also plans to save by "enabling activities" in more cost-effective hubs.
  • The Fed­er­al Trade Com­mis­sion has or­dered Il­lu­mi­na to di­vest Grail Inc, saying that the deal would stifle competition and innovation in the U.S. market for cancer tests.
  • Il­lu­mi­na will ap­peal the FTC's de­ci­sion and seeks to ar­rive at a res­o­lu­tion by late 2023 or ear­ly 2024, the com­pa­ny said in a state­ment
  • Guidance: Illumina reiterates adjusted EPS guidance of $1.25-$1.50 for fiscal year 2023 versus the consensus of $1.41.
  • The company commits to achieving Core Illumina adjusted operating margins of 25% in 2024 and 27% in 2025.
  • Price Action: ILMN shares are down 0.40% at $217.81 during the premarket session on the last check Wednesday.

20-Year Pro Trader Reveals His "MoneyLine"

Ditch your indicators and use the "MoneyLine." A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.


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