earnings
confidence high
sentiment positive
materiality 0.75
IDEXX Q3 revenue $916M (+9% reported); EPS $2.53; FY guidance updated to $3.635-$3.65B
IDEXX LABORATORIES INC /DE
2023-Q3 EPS reported
$7.75
revenue$2,759,352,000
- Q3 revenue $916M (+9% reported, +8% organic) driven by CAG Diagnostics recurring revenue +10% reported (+9% organic).
- EPS $2.53, up 18% reported (16% comparable); operating margin 30.1% (expanded 100bps reported, 140bps comparable).
- FY2023 revenue guidance lowered to $3,635-$3,650M (7.9%-8.4% growth); EPS outlook raised to $9.74-$9.90 (midpoint +$0.05).
- Global premium instrument installed base grew 11% YoY; VetLab consumables revenue +11% organic.
- Water revenue +7% organic; Livestock/Poultry/Dairy revenue +2% organic; solid gains in U.S. offset international headwinds.