Illumina Expects Sales Decline and Wider Loss in Challenging Market

by Warren Seah

By Paul Ziobro

Illumina, a leading gene-sequencing company based in San Diego, is anticipating a decline in sales and a wider loss this year due to ongoing challenges in the market.

According to the latest announcement on Thursday, the company now predicts a total revenue decline of 2% to 3% for this year, a significant shift from the prior projection of approximately 1% growth.

In terms of its core business, Illumina expects a 3% to 4% decrease in revenue, as opposed to the previous expectations of it remaining steady compared to last year’s results. Additionally, the revenue for its Grail business is anticipated to fall on the lower end of the previously forecasted range of $90 million to $110 million.

The updated guidance also reveals a changed per-share loss forecast, now ranging between $6.67 and $6.57 compared to the previous estimate of a loss between $2.08 and $1.93 per share.

If adjusted for certain items, Illumina projects a per-share profit of 60 cents to 70 cents instead of the previously anticipated 75 cents to 90 cents per share.

In this challenging landscape, Illumina is navigating headwinds and adjusting to market conditions to remain a top player in the gene-sequencing industry.

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