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WESTBROOK, Maine - On Monday, IDEXX Laboratories (NASDAQ:IDXX) reported second quarter earnings that exceeded analyst expectations, driven by strong instrument placements and solid recurring diagnostic revenue growth.
The pet healthcare innovation company’s shares rose +3.63% in pre-market trading after the earnings release.
The company posted adjusted earnings of $3.63 per share, beating analyst estimates of $3.29, while revenue climbed 11% to $1.11 billion, surpassing the consensus forecast of $1.06 billion. Organic revenue growth was 9% for the quarter, supported by Companion Animal Group (CAG) Diagnostics recurring revenue growth of 7% on an organic basis.
IDEXX achieved record quarterly instrument placements, including nearly 2,400 IDEXX inVue Dx placements, highlighting strong adoption of its slide-free technology. The company’s IDEXX VetLab consumables generated 15% reported revenue growth and 14% organic growth, reflecting increased testing utilization across regions.
The company raised its full-year 2025 guidance, now expecting revenue of $4.205-$4.28 billion, up from its previous forecast of $4.095-$4.21 billion and above analyst consensus of $4.149 billion. IDEXX also increased its EPS outlook to $12.40-$12.76, compared to the prior guidance of $11.93-$12.43 and analyst expectations of $12.21.
Operating margin for the quarter was 33.6%, improving by 130 basis points on a comparable basis, supported by strong growth in high-margin consumables revenue and reference lab productivity initiatives.
International markets showed particularly strong performance, with CAG Diagnostics recurring revenue growing 15% as reported and 11% organically in international regions, compared to 6% growth in the U.S.
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