IDEXX Q2 rev +6% to $1,004M; EPS $2.44; cuts FY guidance on litigation charge

IDEXX LABORATORIES INC /DE

2024-Q2 EPS reported $5.24 revenue$1,967,673,000

Revenue $1,004M, +6% reported (+7% organic); CAG Diagnostics recurring +6% reported (+7% organic).
EPS $2.44, down 9% reported; comparable +15% excluding $0.56/share discrete litigation accrual.
Record Q2 premium instrument placements; global premium instrument installed base grew 11% YoY.
FY2024 guidance updated: revenue $3,885M-$3,945M (6.2-7.8% organic); EPS $10.31-$10.59, down $0.56 at midpoint.
$62M discrete litigation expense accrual hit operating margin by ~610 bps and EPS by $0.56.

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