$ILMN (+0 %)
| Post Market: -4% | 𝐈𝐥𝐥𝐮𝐦𝐢𝐧𝐚 𝐐𝟑 𝐄𝐚𝐫𝐧𝐢𝐧𝐠𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: Revenue $1.08B (-2% YoY), GAAP EPS $4.03, non-GAAP EPS $1.14. FY24 revenue guidance lowered; EPS guidance raised.

👉 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬:

➡️ 𝐂𝐨𝐫𝐞 𝐈𝐥𝐥𝐮𝐦𝐢𝐧𝐚 revenue was $1.1B, down 2% YoY on a constant currency basis.

➡️ 𝐆𝐀𝐀𝐏 operating margin reached 68.6%, driven by cost savings and improved productivity.

➡️ 𝐍𝐨𝐧-𝐆𝐀𝐀𝐏 operating margin was 22.6%, up from 22.5% YoY.

➡️ GAAP diluted EPS at $𝟒.𝟎𝟑, reflecting significant cost management improvements.

➡️ 𝐍𝐨𝐧-𝐆𝐀𝐀𝐏 diluted EPS stood at $𝟏.𝟏𝟒, compared to $0.33 in Q3 2023.

➡️ R&D expenses increased to $253M (GAAP) and $249M (non-GAAP) due to investments in innovation.

➡️ SG&A expenses were $239M (GAAP) and $268M (non-GAAP), reflecting ongoing strategic initiatives.

➡️ Cash flow from operations grew to $𝟑𝟏𝟔𝐌, with free cash flow at $𝟐𝟖𝟒𝐌, a significant improvement YoY.

➡️ FY24 revenue guidance revised to a ~3% decline, but 𝐄𝐏𝐒 guidance raised to $𝟒.𝟎𝟓-$𝟒.𝟏𝟓 (non-GAAP).

➡️ FDA approval for TSO Comprehensive, with two companion diagnostics, enhances portfolio strength.

➡️ Announced new MiSeq i100 Series, expanding offerings in the benchtop sequencing market.

➡️ Legal settlement provided a $𝟒𝟖𝟖𝐌 GAAP benefit, significantly impacting net income positively.

👉 𝐂𝐄𝐎 𝐒𝐭𝐚𝐭𝐞𝐦𝐞𝐧𝐭:

"During the third quarter, the Illumina team delivered strong operating results, and revenue met our expectations," said Jacob Thaysen, Chief Executive Officer. "The underlying demand for Illumina's products and applications remains strong, and we are demonstrating significant progress in driving margin and earnings expansion."