Core Insights - Idexx Laboratories exceeded earnings expectations for Q4 2024, driven by strong performance in its Companion Animal Group segment [2][3] Financial Performance - Q4 2024 revenue reached $954 million, surpassing the expected $935 million, while EPS was $2.62, exceeding the forecasted $2.40 [2][4] - Year-over-year revenue growth was 5.8%, up from $901.6 million in Q4 2023, and EPS increased by 13% from $2.32 [4] - Gross margin improved to 59.8% from 58.4% year-over-year, and operating margin slightly increased to 27.4% from 27.2% [4][9] Business Overview - Idexx Laboratories specializes in veterinary diagnostics, with its Companion Animal Group being the primary revenue driver [5] - The company offers a range of diagnostic tests, laboratory services, and practice management platforms [5] Recent Developments - The introduction of the inVue Dx™ Cellular Analyzer aims to enhance veterinary workflows and diagnostic efficiencies [6][9] - The Companion Animal Group diagnostics segment reported a 6% growth, while VetLab consumables sales increased by 12%, indicating a strong recurring revenue model [7] - The Water segment also saw an 8% year-over-year growth, supported by effective pricing strategies and increased international demand [8] Strategic Focus and Future Outlook - Management projects 2025 revenue between $4.06 billion and $4.17 billion, with EPS guidance of $11.74 to $12.24, driven by growth in the CAG segment and international market expansion [11] - The company plans to execute share repurchases of approximately $1.5 billion, reflecting confidence in future cash flow [12] - Idexx is focusing on high-growth areas such as oncology diagnostics and emerging markets [13]

Financial Performance - Idexx Laboratories reported quarterly earnings of $2.62 per share, exceeding the Zacks Consensus Estimate of $2.40 per share, and up from $2.32 per share a year ago, representing an earnings surprise of 9.17% [1] - The company posted revenues of $954.29 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 1.87%, compared to year-ago revenues of $901.6 million [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $3.02 on revenues of $1.02 billion, and for the current fiscal year, it is $11.95 on revenues of $4.16 billion [7] - The estimate revisions trend for Idexx is currently unfavorable, leading to a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The Medical - Instruments industry, to which Idexx belongs, is currently in the top 34% of over 250 Zacks industries, suggesting that stocks in the top 50% outperform those in the bottom 50% by more than 2 to 1 [8] - Teleflex, another company in the same industry, is expected to report quarterly earnings of $3.86 per share, reflecting a year-over-year change of +14.2% [9]

Financial Performance - Fourth quarter revenue reached $954 million, a 6% increase year-over-year on both reported and organic bases, driven by 6% growth in the Companion Animal Group (CAG) Diagnostics recurring revenue[3]. - The company achieved fourth quarter EPS of $2.62, reflecting a 13% increase as reported and a 10% increase on a comparable basis, supported by strong operating results[4]. - Full year revenue totaled $3,898 million, marking a 6% increase as reported and organically, with CAG Diagnostics recurring revenue growing by 7%[6]. - Revenue for Q4 2024 reached $954.3 million, a 5.8% increase from $901.6 million in Q4 2023[41]. - Total net revenue for IDEXX Laboratories in 2024 was $3,574,044, representing a 6.6% increase from $3,352,356 in 2023[47]. - CAG Diagnostics recurring revenue reached $3,129,492 in 2024, up 6.6% from $2,935,425 in 2023[49]. - International revenue grew by 8.9% to $1,164,892, while U.S. revenue increased by 5.5% to $2,409,152[47]. - Net income attributable to stockholders for the full year 2024 was $887.9 million, compared to $845.0 million in 2023, reflecting a 5.1% increase[41]. Earnings Guidance - The initial outlook for 2025 revenue is projected between $4,055 million and $4,170 million, indicating a growth of 4% to 7% reported and 6% to 9% organic[4]. - 2025 EPS guidance is set at $11.74 to $12.24, representing a growth of 10% to 15% as reported and 8% to 12% on a comparable basis[4]. - CAG Diagnostics recurring revenue growth for 2025 is expected to be 3% to 6% reported and 5% to 8% organic, supported by execution drivers and net price improvement[8]. Profitability Metrics - Operating margin for the fourth quarter was 27.4%, a 20 basis point increase year-over-year on a reported basis[15]. - Fourth quarter 2024 gross profit reported at $570,660,000, an 8% increase from $526,167,000 in Q4 2023[29]. - Full year 2024 gross profit reached $2,378,927,000, a 9% increase from $2,189,970,000 in 2023[29]. - Gross profit margin improved to 59.8% in Q4 2024, up from 58.4% in Q4 2023[42]. - Operating income for the full year 2024 was $1,128.3 million, a slight increase from $1,097.1 million in 2023[43]. - The gross profit for the CAG segment was $519.4 million in Q4 2024, with a gross margin of 59.7%[43]. Operating Expenses - Operating expenses for Q4 2024 were $308,974,000, a 10% increase from $280,865,000 in Q4 2023[29]. - The company’s total operating expenses for the full year 2024 were $1,250.6 million, compared to $1,092.8 million in 2023[41]. - Research and development expenses increased to $57.7 million in Q4 2024, up from $51.8 million in Q4 2023[41]. Shareholder Returns - The company plans to repurchase approximately $1.5 billion of shares in 2025, which is about 4% of the current equity market capitalization[4]. - The company repurchased a total of 1,760 shares in the twelve months ended December 31, 2024, at a total cost of $859,432 thousand[56]. - The average cost per share for open market repurchases was $487.66 in the twelve months ended December 31, 2024[56]. - The cost of shares repurchased in the open market for the three months ended December 31, 2024, was $248,685 thousand[56]. - The average cost per share for total repurchases in the twelve months ended December 31, 2024, was $488.40[56]. Cash Flow and Capital Structure - Projected 2025 free cash flow estimated after deducting capital expenditures of approximately $160,000,000[36]. - Free cash flow for the year was $808,079, an increase from $772,879 in 2023[54]. - Cash and cash equivalents decreased to $288,266 at the end of 2024 from $453,932 at the end of 2023[53]. - Total assets increased slightly to $3,293,443 in 2024 from $3,259,925 in 2023[50]. - The company’s total stockholders' equity rose to $1,595,313 in 2024, up from $1,484,530 in 2023[50]. - The company had a long-term debt net of current portion of $449,786 thousand as of December 31, 2024, down from $622,883 thousand as of December 31, 2023[55]. Operational Efficiency - Days sales outstanding improved to 47.1 days in Q4 2024 from 46.1 days in Q4 2023[51]. - Inventory turns remained stable at 1.3 for both Q4 2024 and Q4 2023[52]. - For the year ended December 31, 2024, IDEXX reported an after-tax return on invested capital (ROIC) of 45.8%[55]. - Total invested capital, excluding cash and investments, increased to $2,060,302 thousand as of December 31, 2024, compared to $1,878,349 thousand as of December 31, 2023[55]. Currency Impact - Estimated currency changes negatively impacted Q4 2024 EPS growth by 1.2% and full year 2024 EPS growth by 0.6%[25]. - Organic revenue growth is reported as a non-GAAP measure, facilitating easier comparisons with prior periods[26].

Core Viewpoint - IDEXX Laboratories, Inc. (IDXX) is expected to release its fourth-quarter 2024 results on February 3, with estimates indicating revenue growth and earnings per share (EPS) increase compared to the previous year [1][3]. Revenue Estimates - The Zacks Consensus Estimate for revenues is $936.8 million, reflecting a 3.9% increase from the year-ago figure [3]. - The Zacks Consensus Estimate for EPS is $2.40, indicating a 3.4% increase from the year-ago figure [3]. Performance Factors - Companion Animal Group (CAG) Diagnostics is anticipated to have recurring revenues supported by improved global net prices and international organic growth, driven by strong execution of strategies [5]. - U.S. CAG Diagnostics revenues likely benefited from new business gains, high customer retention, and increased diagnostic utilization per clinical visit [6]. - IDEXX VetLab consumables are expected to show strong organic growth, particularly in the U.S. and international markets [7]. - The point-of-care business has seen positive initial customer responses to new products, which are expected to favor segment revenues [8]. Segment Performance - Global rapid assays revenues are likely to have increased due to higher net price realization and strong performance in the U.S. and international regions [10]. - The reference lab, veterinary software, and diagnostic imaging revenues are expected to benefit from the acquisition of Greenline software, with organic growth driven by recurring revenues [11]. - The Water segment is projected to achieve strong organic revenues due to increased volumes in the U.S. and Europe, although a decline of 9% year-over-year is expected [12]. - The Livestock, Poultry, and Dairy (LPD) division is likely to experience a revenue decline due to reduced swine testing in China, despite a projected 7.2% year-over-year increase in revenues [13]. Earnings ESP and Zacks Rank - IDEXX Laboratories has an Earnings ESP of 0.00%, indicating no expected surprise in earnings [14]. - The company currently holds a Zacks Rank of 4 (Sell), suggesting a lower likelihood of beating estimates [14].

IDEXX Laboratories, Inc. (IDXX) has unveiled the IDEXX Cancer Dx, a first-of-its-kind diagnostic panel with early detection of lymphoma in dogs. This affordable and accessible blood test can be added to panels for sick pets and integrated into annual wellness screenings for as low as $15, providing veterinarians in the United States with actionable results within two to three days.The test is especially crucial for the 20 million dogs in North America who face an increased risk of cancer. Early detection an ...

Core Insights - IDEXX Laboratories, Inc. has launched IDEXX Cancer Dx™, a pioneering diagnostic panel for early detection of lymphoma in dogs, particularly targeting the 20 million dogs at higher risk for cancer in North America [1][2][3] - The test is affordable, costing as low as $15, and provides actionable results within 2–3 days, making it accessible for veterinarians [1][4] - Cancer is a leading cause of death in dogs, with 1 in 4 dogs in the U.S. expected to be diagnosed with cancer in their lifetime, highlighting the critical need for early detection [2][3] Company Overview - IDEXX is recognized as a global leader in pet healthcare innovation, with over 40 years of experience in veterinary research and technology development [3][6] - The company employs approximately 11,000 people and offers solutions in more than 175 countries, indicating a strong global presence [7] - IDEXX Cancer Dx is designed to integrate seamlessly into existing veterinary workflows, enhancing the ability of veterinarians to manage cancer proactively [6][4] Market Demand - A recent survey revealed that 73% of pet owners are interested in cancer screening tests for their pets, indicating a strong market demand for proactive healthcare solutions [2][4] - The IDEXX Cancer Dx panel aims to improve the quality of life for canine cancer patients by enabling earlier clinical diagnoses compared to traditional methods [4][5] Future Plans - IDEXX plans to expand the Cancer Dx panel over the next three years to cover a broader range of canine cancer cases, further transforming cancer detection and intervention [1][3] - The IDEXX Cancer Dx test for canine lymphoma will be available at IDEXX Reference Laboratories in the U.S. and Canada starting in late March 2025 [5][9]

IDEXX’s (IDXX) business continues to be dampened by currency impacts and uncertain macroeconomic conditions. The stock carries a Zacks Rank #4 (Sell) currently.Concerning Factors for IDXXIn recent times, U.S. clinical visit growth levels have been constrained by persistent staffing challenges at veterinary clinics and the cumulative impacts of broader macroeconomic challenges on consumers. Meanwhile, challenges in the Asia-Pacific, including the impacts of reduced swine testing in China and lower health scr ...

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.Zacks Premium also includes the Zacks Style Scores. What ...

BOSTON, Dec. 19, 2024 (GLOBE NEWSWIRE) -- Sustainability Roundtable, Inc. (SR Inc), a leader in strategic advisory and support services, proudly announces the recipients of its 2024 Sustainable Business & Enterprise Roundtable (SBER) Awards. Presented the eve before its Summit for Sustainable Business VIII: Decarbonizing Corporate Global Operations at the St. Regis hotel in Washington, D.C., these recognitions commemorate SBER's 2024 standout sustainability leaders. Award Recipients and Achievements SR Inc ...

One of my favorite ways to add money to my portfolio is to invest in proven compounders with track records of delivering market-beating results after short-term pullbacks. This idea is especially true when the stocks in question are trading at what could prove to be once-in-a-decade opportunities.Two companies that fit this description now are animal healthcare specialists Idexx Laboratories (IDXX 0.02%) and Zoetis (ZTS 0.94%). While Idexx is already one of my daughter's core holdings and Zoetis is one of ...