Financial Data and Key Metrics Changes - IDEXX reported a 6% organic revenue growth in Q3 2024, with a 7% growth in CAG diagnostic recurring revenues and a 13% growth in the water business [7][10] - EPS for Q3 was $2.80, reflecting an 11% increase as reported and a 12% increase on a comparable basis [9][24] - Operating margins improved to 31.2%, up 110 basis points year-on-year [24] Business Line Data and Key Metrics Changes - CAG organic revenue growth was 6%, supported by 6% growth in veterinary software services and diagnostic imaging revenues, while LPD experienced a 2% organic decline [10][12] - CAG diagnostic recurring revenue increased 7% organically, with a 5% average global net price improvement [12][23] - Consumable revenues increased 11% organically, driven by strong gains in the US and international regions [19] Market Data and Key Metrics Changes - US CAG diagnostic recurring revenue organic growth was 5%, with a 1.5% growth benefit from equivalent days effects [14] - International growth was supported by 10% organic gains, reflecting strong new business gains and high premium instrument placements [13][22] - The US clinical visit growth was constrained by a 2.1% decline in same-store clinical visits, particularly in discretionary wellness visits [15][16] Company Strategy and Development Direction - IDEXX aims to lead the companion animal diagnostics sector through innovation and a high-touch commercial model, focusing on organic growth [33][34] - The company is on track for the launch of the IDEXX inVue Dx Cellular Analyzer in Q4, with nearly 700 pre-orders already secured [43][44] - IDEXX is expanding its corporate account relationships, which are expected to drive long-term volume growth [42][84] Management's Comments on Operating Environment and Future Outlook - Management acknowledged near-term macro pressures affecting clinical visit growth but remains confident in long-term demand drivers for diagnostics [36][62] - The updated full-year organic revenue growth outlook is now 5.3% to 6%, reflecting a reduction due to recent US macro trends [26][27] - Management emphasized the resilience of pet owners in prioritizing pet care despite broader economic pressures [62] Other Important Information - Free cash flow for Q3 was $192 million, with a net income to free cash flow conversion ratio of 91% [25] - The company maintained its outlook for free cash flow conversion of 90% to 95% for the full year [25] - IDEXX's balance sheet remains strong, with leverage ratios of 0.7 times gross and 0.4 times net of cash [26] Q&A Session Summary Question: Can you elaborate on the drivers of the reduction outlook and the step down in Q4? - Management indicated that the 3.5% to 4% growth outlook for CAGDX recurring revenue is net of an estimated 0.5% impact from hurricanes, with normalized growth expected to be 4% to 4.5% [58][59] Question: What is the biggest delta between the underlying outlook given in Q2 versus now? - Management noted that the pressure on end clinic demand was greater than anticipated, contributing to the revised outlook [59][62] Question: Can you expand on the reference lab performance and pricing dynamics? - Management reported 2.4% organic growth in reference labs, with volume growth being positive but moderated by new customer agreements affecting price realization [66][70] Question: How do you view pricing as a lever going forward? - Management confirmed a consistent 5% full-year price outlook, with some moderation expected in Q4 due to new business effects [72][73] Question: Can you discuss the impact of pain medication visits on overall visit trends? - Management clarified that while pain medication visits have increased, they do not typically include diagnostics, leading to a decline in overall diagnostic-related visits [104]

IDEXX Laboratories, Inc. (IDXX) posted third-quarter 2024 earnings per share (EPS) of $2.80, up 10.7% year over year. The figure surpassed the Zacks Consensus Estimate by 4.1%.Comparable constant-currency EPS of $2.79 improved 12% year over year.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Following the earnings announcement, IDXX stock fell 3.1% at the pre-market trading today.IDEXX’s Revenues in DetailQuarterly revenues increased 6.6% year over year (up 6% organically) to $975.5 ...

For the quarter ended September 2024, Idexx Laboratories (IDXX) reported revenue of $975.54 million, up 6.6% over the same period last year. EPS came in at $2.80, compared to $2.53 in the year-ago quarter.The reported revenue represents a surprise of -0.41% over the Zacks Consensus Estimate of $979.59 million. With the consensus EPS estimate being $2.69, the EPS surprise was +4.09%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wal ...

Idexx Laboratories (IDXX) came out with quarterly earnings of $2.80 per share, beating the Zacks Consensus Estimate of $2.69 per share. This compares to earnings of $2.53 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.09%. A quarter ago, it was expected that this Animal diagnostic and health care company would post earnings of $2.87 per share when it actually produced earnings of $2.44, delivering a surprise of -14.98%.Over ...

Exhibit 99.1 FOR IMMEDIATE RELEASE Contact: John Ravis, Investor Relations, 1-207-556-8155 IDEXX Laboratories Announces Third Quarter Results ▪ Achieves third quarter revenue growth of 7% as reported and 6% organic, supported by CAG Diagnostics recurring revenue growth of 7% as reported and organic. ▪ Organic revenue growth supported by benefits from IDEXX execution drivers including continued solid new business gains and double-digit year-over-year global premium installed base growth. ▪ Delivers EPS of $2 ...

In its upcoming report, Idexx Laboratories (IDXX) is predicted by Wall Street analysts to post quarterly earnings of $2.69 per share, reflecting an increase of 6.3% compared to the same period last year. Revenues are forecasted to be $979.05 million, representing a year-over-year increase of 6.9%. Over the last 30 days, there has been a downward revision of 0.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of th ...

Core Viewpoint - IDEXX Laboratories, Inc. is expected to report its third-quarter 2024 results on October 31, with revenue estimates indicating a 7% year-over-year increase to $979.3 million and EPS expected to rise by 6.3% to $2.69 [1][2]. Group 1: Earnings Performance - In the last reported quarter, IDEXX posted adjusted EPS of $2.44, missing the Zacks Consensus Estimate by 14.98% [1]. - The company has beaten earnings estimates in three of the last four quarters, with an average surprise of 1.51% [1]. Group 2: Revenue Estimates - The Zacks Consensus Estimate for third-quarter 2024 revenues is $979.3 million, reflecting a 7% increase from the previous year [2]. - The Water segment is projected to see an 8% year-over-year revenue improvement, while the Livestock, Poultry, and Dairy segment is expected to have a modest 0.1% increase [10][11]. Group 3: Factors Influencing Performance - The Companion Animal Group (CAG) is anticipated to benefit from improved global net prices and international organic growth, supported by strong execution of strategies [4]. - Diagnostic utilization per clinical visit is expected to have expanded, contributing to higher diagnostic revenue [5]. - IDEXX VetLab consumables are likely to show strong organic growth, driven by performance in the U.S. and international markets [6]. Group 4: Market Dynamics - The U.S. CAG Diagnostics' recurring revenues are expected to be bolstered by new business gains and high customer retention levels [5]. - Global lab revenues are anticipated to surge due to strong U.S. performance and growth in international regions [8]. - The veterinary software and diagnostic imaging revenues are expected to benefit from the recent acquisition of Greenline software and data platform [8].

It has been about a month since the last earnings report for Idexx Laboratories (IDXX) . Shares have added about 0.9% in that time frame, underperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Idexx due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. IDEXX Misses Q2 Earnings Estimates, Narro ...

Tuesday, Idexx Laboratories Inc IDXX reported second-quarter adjusted EPS of $3.02, up 15% year-overyear, beating the consensus of $2.88. The company reported sales of $1 billion, an increase of 6% as reported and 7% organically, almost in line with the consensus of $1.01 billion. The revenue growth was driven by Companion Animal Group growth of 6% as reported and 7% organic and Water revenue growth of 9% as reported and 10% organic. Related: Aging Pet Population Is 'Solid Longer-Term Tailwind' For Idexx La ...

IDEXX Laboratories, Inc. (IDXX) posted second-quarter 2024 earnings per share (EPS) of $2.44, down 8.6% year over year. The figure missed the Zacks Consensus Estimate by 14.9%. Comparable constant-currency EPS of $3.02 improved 14.8% year over year. Revenues in Detail Quarterly revenues increased 6.4% year over year (up 7% organically) to $1.00 billion. The reported figure was in line with the Zacks Consensus Estimate. The year-over-year upside was primarily driven by a strong improvement in Companion Anima ...