Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Illumina (NASDAQ: ILMN) and the best and worst performers in the life sciences tools & services industry.
The life sciences tools and services sector supports biotech and pharmaceutical R&D and commercialization by providing lab equipment, data analytics, and clinical trial services. These companies benefit from recurring revenue and high margins on specialized products. Looking ahead, the sector is supported by tailwinds like advancements in genomics, personalized medicine, and the use of AI in drug discovery. However, the persistent challenge is dependence on the R&D budgets of large pharmaceutical companies and the volatility of smaller biotech firms. Future headwinds include uncertain research funding and pricing pressures from cost-conscious customers.
The 21 life sciences tools & services stocks we track reported a satisfactory Q1. As a group, revenues beat analysts’ consensus estimates by 1.1% while next quarter’s revenue guidance was 2.1% above.
Luckily, life sciences tools & services stocks have performed well with share prices up 26% on average since the latest earnings results.
Illumina (NASDAQ: ILMN)
Pioneering the ability to read the human genome at unprecedented speed and affordability, Illumina (NASDAQ: ILMN) develops and sells advanced DNA sequencing and microarray technologies that allow researchers and clinicians to analyze genetic variations and functions.
Illumina reported revenues of $1.09 billion, up 4.8% year on year. This print exceeded analysts’ expectations by 1.8%. Overall, it was a strong quarter for the company with an impressive beat of analysts’ full-year EPS guidance estimates.
"Illumina delivered a strong start to 2026, reflecting strength of the Illumina ecosystem and progress against our strategy," said Jacob Thaysen, Chief Executive Officer of Illumina.
Interestingly, the stock is up 54.2% since reporting and currently trades at $195.42.
Is now the time to buy Illumina? Access our full analysis of the earnings results here, it’s free.
Best Q1: West Pharmaceutical Services (NYSE: WST)
Founded in 1923 and serving as a critical link in the pharmaceutical supply chain, West Pharmaceutical Services (NYSE: WST) manufactures specialized packaging, containment systems, and delivery devices for injectable drugs and healthcare products.
West Pharmaceutical Services reported revenues of $844.9 million, up 21% year on year, outperforming analysts’ expectations by 8.4%. The business had a stunning quarter with a beat of analysts’ full-year EPS guidance estimates.
West Pharmaceutical Services achieved the biggest analyst estimate beat and highest full-year guidance raise among its peers. The market seems happy with the results as the stock is up 30.1% since reporting. It currently trades at $356.93.
Is now the time to buy West Pharmaceutical Services? Access our full analysis of the earnings results here, it’s free.
Weakest Q1: Azenta (NASDAQ: AZTA)
Serving as the guardian of some of medicine's most valuable materials, Azenta (NASDAQ: AZTA) provides biological sample management, storage, and genomic services that help pharmaceutical and biotechnology companies preserve and analyze critical research materials.
Azenta reported revenues of $144.8 million, up 1% year on year, falling short of analysts’ expectations by 2.5%. It was a disappointing quarter as it posted a significant miss of analysts’ EPS estimates.
Interestingly, the stock is up 4.2% since the results and currently trades at $25.65.
Read our full analysis of Azenta’s results here.
Agilent (NYSE: A)
Originally spun off from Hewlett-Packard in 1999 as its measurement and analytical division, Agilent Technologies (NYSE: A) provides analytical instruments, software, services, and consumables for laboratory workflows in life sciences, diagnostics, and applied chemical markets.
Agilent reported revenues of $1.84 billion, up 10% year on year. This result surpassed analysts’ expectations by 1.9%. Overall, it was a strong quarter as it also produced a beat of analysts’ full-year EPS guidance estimates.
Agilent had the weakest guidance update among its peers. The stock is up 12.8% since reporting and currently trades at $130.71.
Read our full, actionable report on Agilent here, it’s free.
10x Genomics (NASDAQ: TXG)
Founded in 2012 by scientists seeking to overcome limitations in traditional biological research methods, 10x Genomics (NASDAQ: TXG) develops instruments, consumables, and software that enable researchers to analyze biological systems at single-cell resolution and spatial context.
10x Genomics reported revenues of $150.8 million, down 2.6% year on year. This print beat analysts’ expectations by 2.9%. Overall, it was a very strong quarter as it also logged a beat of analysts’ EPS estimates.
10x Genomics had the slowest revenue growth among its peers. The stock is up 80.6% since reporting and currently trades at $40.50.
Read our full, actionable report on 10x Genomics here, it’s free.
Market Update
Late in 2025 into early 2026, there was hand-wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?
These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.
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