Investing.com -- Shares of Illumina, Inc. (NASDAQ: NASDAQ: ILMN ) declined 3.6% today following the company's preliminary financial outlook for fiscal year 2025, which fell short of analyst estimates. The company provided this early glimpse into its future financial performance ahead of its presentation at the 43rd Annual J.P. Morgan Healthcare Conference.

Illumina reported a revenue of approximately $1.10 billion for the fourth quarter of 2024, marking a slight 1% increase from the same quarter the previous year. However, the revenue for the entire fiscal year 2024 was down 2% from 2023, even when considering constant currency. While the GAAP operating margin for the fourth quarter stood at 16.7% and 34.2% for the full year, the non-GAAP operating margin was reported at 19.7% for the fourth quarter and 21.3% for the full year. The company's GAAP diluted EPS for the fourth quarter is estimated to be between $0.77 and $0.79, with the full year ranging from $5.65 to $5.67. The non-GAAP diluted EPS is anticipated to be between $0.91 and $0.93 for the fourth quarter and $4.12 to $4.14 for 2024.

Looking ahead, Illumina expects a low single-digit growth in constant currency revenue for fiscal year 2025, with reported revenue projected to be between approximately $4.28 billion and $4.4 billion. Additionally, the company forecasts a non-GAAP operating margin of about 23% and an approximate 10% growth in non-GAAP diluted EPS.

These preliminary figures contrast with consensus expectations, which predicted a fourth-quarter EPS of $0.92 on revenue of $1.07 billion and a 2024 EPS of $4.12 on revenue of $4.32 billion. Analysts were more optimistic about 2025, with an anticipated EPS of $4.43 on revenue of $4.48 billion. The shortfall in Illumina's preliminary outlook for the next fiscal year has prompted today's decline in its stock price.

Illumina has announced that it will report its complete fourth quarter and fiscal year 2024 results after the market closes on Thursday, February 6, 2025. It is important to note that the current unaudited results are preliminary and subject to the completion of accounting and annual audit procedures, which could lead to adjustments.

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