IDEXX Laboratories Inc

IDXX

Equity

ISIN US45168D1046 / Valor 940695

NASDAQ (2024-09-18)

USD 511.30-0.19%

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 revenues of $964 million for the first quarter of 2024, marking a 7% increase both as reported and organically. This growth was primarily driven by the Companion Animal Group (CAG), which also saw a 7% increase in revenue. Additionally, the Water segment experienced an 11% growth in revenue, contributing to the overall positive performance.

Earnings Per Share

For the first quarter of 2024, IDEXX Laboratories Inc. achieved earnings per diluted share (EPS) of $2.81. This represents a 10% increase as reported and a 9% increase on a comparable basis. The reported EPS included a $0.10 per share benefit from share-based compensation tax benefits.

Companion Animal Group Performance

The Companion Animal Group (CAG) of IDEXX Laboratories Inc. generated a 7% revenue growth as reported and organically for the first quarter of 2024. This growth was supported by a 7% increase in CAG Diagnostics recurring revenue. The U.S. CAG Diagnostics recurring revenue grew by 6.5%, despite the impacts of severe weather in January.

Gross and Operating Profit

IDEXX Laboratories Inc. reported a 9% increase in gross profits for the first quarter of 2024. The gross margin improved by 120 basis points to 61.5%. However, the operating margin was slightly lower by 10 basis points at 31.0%, which included a negative impact from lapping a customer contract resolution payment in Q1 2023.

2024 Financial Outlook

IDEXX Laboratories Inc. updated its full-year 2024 revenue growth outlook to a range of 6.5% to 8.5% as reported and 7% to 9% organically. The EPS outlook was also updated to a range of $10.82 to $11.20, reflecting an 8% to 11% growth as reported and 9% to 13% on a comparable basis. These updates account for a negative impact from foreign exchange rates and adjustments to the high end of the organic revenue growth guidance.

Summarized from source with an LLMView Source

Key figures

13.6%1Y

-22.7%3Y

87.5%5Y

Performance

28.6%1Y

34.3%3Y

34.6%5Y

Volatility