How Idexx Laboratories Business Shook Off Bears And Hit A Record

Core Viewpoint - Idexx Laboratories reported strong quarterly results, exceeding Wall Street forecasts, and raised its 2025 outlook, leading to a significant increase in its stock price [1][2]. Financial Performance - In Q3, Idexx's sales increased by 13% to $1.11 billion, surpassing the expected $1.07 billion [2]. - The company earned an adjusted $3.22 per share, exceeding projections of $3.12, with earnings growing by 15% [2]. Stock Performance - Idexx's stock surged over 16% to reach a record high of 725.82, breaking out of a flat base with a buy point at 688.12 [3]. Market Trends - The quarter saw a slight decline in total vet visits by 2.4%, but sales of pet products grew organically by 12%, and revenue from the livestock, poultry, and dairy unit increased by 14% [4]. - The U.S. companion animal business performed well, with international companion animal group (CAG) business growing at 15.5% organic constant currency, the fastest rate since the pandemic [5]. Product Development - Idexx is in a new product cycle with Cancer Dx and InVue Dx, which may help mitigate the impact of slow vet visits on its shares [6]. - The guidance hike reflects higher expectations for InVue Dx, a new cellular analyzer [4]. Analyst Insights - Analysts view the quarterly results as a strong indicator of Idexx's operational execution and potential for future growth [5]. - The ongoing demand for pet care, driven by the 2020 puppy boom and increased spending by younger generations, supports a bullish outlook for Idexx and similar companies [8].