Illumina Q3 FY2026: revenue up 4.2%, EPS beats, guidance raised
Illumina beat on earnings and raised full-year guidance, but the quarter's shine owes a lot to a one-off tariff refund. Strip that out and revenue growth was 4.8% organic and non-GAAP EPS was $1.44, still ahead of the $1.3833 consensus. Read the headline numbers first, then focus on what repeats: gross margin, free cash flow, and the Q4 implied by guidance.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS of $1.43 beat the $1.3833 consensus, and non-GAAP diluted EPS was $1.62. But non-GAAP EPS excluding tariff refunds was $1.44, meaning the refund added $0.18 a share to the adjusted number. On the cleaner $1.44 the beat is thinner, though it is still a beat.
Revenue of $1.129 billion rose 4.2% from $1.084 billion a year ago, with product revenue at $946 million and service at $183 million. Management put organic growth at 4.8% and rest-of-world organic growth at 4.7%. Note that reported revenue was cut by $37 million of tariff refunds expected to be credited to customers.
Full-year revenue guidance moved up to $4.64-$4.66 billion from $4.60-$4.64 billion, and non-GAAP diluted EPS moved to $5.40-$5.45 from $5.30-$5.40. Non-GAAP operating margin is now a single point of 23.6%, versus a prior 23.4%-23.6% range. The revenue midpoint has now been lifted three updates in a row, from $4.57 billion to $4.62 billion to $4.65 billion.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-03
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