IDEXX Q1 revenue $964M (+7%), EPS $2.81; cuts 2024 revenue/EPS guidance on FX and visit slowdown

IDEXX LABORATORIES INC /DE

2024-Q1 EPS reported $2.81 revenue$964,095,000

Q1 revenue $964M (+7% as reported and organic); EPS $2.81 (+10% reported, +9% comparable).
CAG Diagnostics recurring revenue grew 7% as reported and organic; global premium instrument installed base up 11% YoY.
FY2024 revenue guidance lowered to $3,895M-$3,965M (prior $3,930M-$4,040M); EPS guidance lowered to $10.82-$11.20.
Guidance cut reflects ~$35M FX headwind and reduction of 1% from high end of organic growth range due to US clinical visit moderation.
Gross margin improved 120bps to 61.5%; operating margin contracted 10bps to 31.0% due to lapping a Q1 2023 customer contract resolution payment.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

IDEXX LABORATORIES INC /DE reported the quarter ended March 31, 2024 results: revenue $964 million, EPS $2.81. Guidance reaffirmed.

Period: the quarter ended March 31, 2024
Revenue: $964 million
EPS: $2.81
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Laboratories, Inc. (NASDAQ: IDXX), a global leader in pet healthcare innovation, today announced first quarter results. First Quarter Results The Company reports revenues of $964 million for the first quarter of 2024, an increase of 7% as reported and organic, driven by Companion Animal Group ("CAG") growth of 7% as reported and organic, and Water revenue growth

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Source: SEC EDGAR

accession 0001104659-24-055201

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