Idexx Laboratories (IDXX) came out with quarterly earnings of $2.62 per share, beating the Zacks Consensus Estimate of $2.40 per share. This compares to earnings of $2.32 per share a year ago.
IDEXX Laboratories beat Wall Street estimates for fourth-quarter revenue and profit on Monday, helped by strong demand for its veterinary diagnostic services despite persistent weakness in visits to the vet clinic.
IDEXX Laboratories' fourth-quarter 2024 performance is expected to have benefited from a strong execution against strategic priorities.
IDEXX launches new cancer Dx Panel with early detection test for canine lymphoma.
With sustained inflationary pressure, IDEXX may struggle to keep its cost of revenues and operating expenses in check.
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IDEXX's robust strength in the CAG Diagnostics business and strong global performance are highly promising.
I reiterate a 'Sell' rating on IDEXX due to weak U.S. clinical visits and demand, with a one-year price target of $400 per share. IDEXX's Q3 results showed a 2.1% decline in same-store clinical visits and missed market expectations, leading to lowered revenue growth guidance for FY24. Despite strong recurring revenue growth and high retention rates, ongoing macroeconomic challenges and high-interest rates are expected to impact IDEXX's business growth.
Trading at its most reasonable valuation since 2016, this pet healthcare diagnostics leader could be a once-in-a-decade opportunity today.
IDEXX Laboratories, Inc. (NASDAQ:IDXX ) Q3 2024 Earnings Conference Call October 31, 2024 8:30 AM ET Company Participants Brian McKeon - CFO Jay Mazelsky - President and CEO Conference Call Participants Michael Ryskin - Bank of America Jonathan Block - Stifel Erin Wright - Morgan Stanley Brandon Vasquez - William Blair David Westenberg - Piper Sandler Operator Good morning, and welcome to the IDEXX Laboratories Third Quarter 2024 Earnings Conference Call. As a reminder, today's conference is being recorded.
Idexx Laboratories Inc IDXX reported third-quarter adjusted EPS of $2.79, up 12% year-over-year, beating the consensus of $2.68.