secwatch.observer — SEC 8-K summary
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Issuer:     IDEXX LABORATORIES INC /DE (IDXX)
CIK:        0000874716
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0001104659-24-055201
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/874716/000110465924055201/0001104659-24-055201-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/874716/000110465924055201/tm2413183d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-055201

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer