Biotechnology company Illumina, Inc. (NASDAQ: ILMN) has issued fresh earnings guidance for fiscal 2025, to reflect tariff-related challenges to export.
- The company said it expects fiscal year 2025 adjusted earnings to be approximately $4.50 per share
- The guidance came in response to a notice from the China Ministry of Commerce, restricting the export of sequencing instruments into China
- The biotech firm remains focused on achieving high-single-digit revenue growth by 2027 while expanding margins
- Illumina will continue expanding its multiomics portfolio with new roadmap technologies spanning genomics, spatial, single cell, and methylation, as well as a new multimodal data analysis platform
- The company will also continue investing in its services, data, and software offerings that support its core sequencing and multiomics businesses
- The company is instituting an incremental approximately $100 million cost reduction program for fiscal 2025
- The cost reduction program includes optimizing stock-based compensation and non-labor spending and accelerating certain productivity measures