IDEXX corrects FY24 comparable margin expansion to 30-60 bps (from 70-100 bps); Q3 EPS $2.80

IDEXX LABORATORIES INC /DE

2024-Q3 EPS reported $8.05 revenue$2,943,216,000

Corrected 2024 comparable operating profit margin expansion to 30-60 bps from 70-100 bps (error in prior release).
Q3 revenue $976M (+7% reported, +6% organic); CAG Diagnostics recurring revenue +7%.
Q3 diluted EPS $2.80, +11% as reported, +12% comparable basis; operating margin 31.2%.
Updated FY24 revenue guidance to $3.865B-$3.890B (~1% lower at midpoint); EPS narrowed to $10.37-$10.53.
FY24 organic revenue growth now 5.3%-6.0% (prior 6.2%-7.8%) due to softer U.S. clinic visit trends.

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