IDEXX Laboratories Inc

IDXX

Equity

ISIN US45168D1046 / Valor 940695

NASDAQ (2025-03-13)

USD 406.29-1.48%

IDEXX Laboratories Inc
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About company

IDEXX Laboratories Inc is a global leader in providing diagnostic products and services for veterinary practices, livestock, poultry, dairy, and water testing. The company offers a wide range of biological materials testing, laboratory animal diagnostic services, analyzers, blood gas and electrolyte analyzers, pet-side tests, bench-top laboratory systems, diagnostic tests for antibiotic residue detection in milk, and water microbiology tests for ensuring the safety of drinking water. IDEXX also provides practice management software solutions for veterinarian practices, including IDEXX Pet Health Network Pro, VetConnect PLUS, and Cornerstone. With a focus on animal health and safety, IDEXX Laboratories Inc plays a crucial role in managing herd and flock health, as well as ensuring the safety of water supplies for over two billion people in 100 countries worldwide.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

IDEXX Laboratories Inc. reported a revenue of $976 million for the third quarter of 2024, marking a 7% increase as reported and a 6% organic growth. This growth was primarily driven by the Companion Animal Group (CAG), which saw a 7% increase in revenue as reported and 6% organic growth. The Water segment also contributed significantly with a 13% increase in revenue, both as reported and organic.

Earnings Per Share

For the third quarter of 2024, IDEXX Laboratories Inc. achieved earnings per diluted share (EPS) of $2.80. This represents an 11% increase as reported and a 12% increase on a comparable basis. The growth in EPS was supported by an expansion in operating margin by 110 basis points as reported and 100 basis points on a comparable basis.

Companion Animal Group Performance

The Companion Animal Group (CAG) of IDEXX Laboratories Inc. reported a 7% revenue growth as reported and 6% organic growth for the third quarter of 2024. This growth was supported by a 7% increase in CAG Diagnostics recurring revenue, both as reported and organic. The international regions saw a 10% growth in CAG Diagnostics recurring revenue, contributing to the overall performance.

Gross and Operating Profit

IDEXX Laboratories Inc. reported a 9% increase in gross profits for the third quarter of 2024, both as reported and on a comparable basis. The gross margin improved by 120 basis points as reported and 140 basis points on a comparable basis. The operating margin for the quarter was 31.2%, which is an increase of 110 basis points as reported and 100 basis points on a comparable basis, reflecting a 7% growth in operating expenses.

2024 Financial Outlook

IDEXX Laboratories Inc. has updated its revenue guidance for 2024 to a range of $3,865 million to $3,890 million, reflecting a 5.5% to 6.2% growth as reported. The company has narrowed its EPS outlook to a range of $10.37 to $10.53, maintaining a consistent midpoint. The updated guidance incorporates expectations for macroeconomic impacts on growth, particularly in the U.S. veterinary clinic sector.

Summarized from source with an LLMView Source

Key figures

-24.8%1Y

-18.4%3Y

59.8%5Y

Performance

28.1%1Y

33.8%3Y

34.9%5Y

Volatility