Investing.com -- IDEXX Laboratories Inc. (NASDAQ:IDXX) reported third quarter results that exceeded analyst expectations and raised its full-year outlook on Monday.
Shares of the pet healthcare diagnostics company went up 2.57% in pre-market trading following the release.
The company posted adjusted earnings per share of $3.96, beating the analyst consensus of $3.72 by $0.24. Revenue reached $1.21 billion, surpassing the $1.19 billion estimate and marking a 10% increase from $1.11 billion in the same quarter last year. The company raised its full-year 2026 revenue guidance to $4.74 billion to $4.77 billion, with a midpoint of $4.75 billion above the analyst consensus of $4.72 billion. IDEXX also increased its EPS outlook to $14.96 to $15.16, compared to the consensus of $14.88.
CAG Diagnostics recurring revenue grew 11% YoY, driven by strong volume expansion and benefits from the company's innovations. The company placed over 1,900 IDEXX inVue Dx analyzers during the quarter, bringing the installed base to nearly 11,000 instruments. IDEXX VetLab consumables revenue increased 14% on a reported basis and 15% organically.
"IDEXX delivered exceptional third quarter results, reflecting strong commercial execution and momentum from our innovation-driven growth strategy," said Mike Erickson, President and Chief Executive Officer.
Operating margin expanded 100 basis points to 33.1% on a reported basis and 60 basis points on a comparable basis. Gross margin improved 110 basis points to 62.9%.
The company's updated full-year guidance reflects organic revenue growth of 9.3% to 10.0%, up 0.6% at the midpoint from prior guidance. CAG Diagnostics recurring revenue is projected to grow 11.0% to 11.7% on a reported basis.
Original Article
IDEXX Labs beats estimates, raises guidance as stock gains
