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IDEXX Laboratories, Inc. (NASDAQ: IDXX) is a global leader in pet healthcare innovation, providing a broad range of diagnostic and information technology-based products and services to practicing veterinarians across the globe. Headquartered in Southern Maine, the company operates through more than 70 locations worldwide, serving customers in over 175 countries and employing more than 11,000 people.
IDEXX’s primary business focuses on pet health, offering products such as in-clinic diagnostic tests, instrumentation, reference laboratory and telemedicine consultation services, and practice management software. These products enhance veterinarians' ability to provide advanced medical care, improve staff efficiency, and build more economically successful practices. The company is also involved in developing diagnostic tests for the global production animal industry, including poultry and livestock, and tests for the quality and safety of water.
An important recent achievement for IDEXX is the launch of the SNAP® Leish 4Dx® Test, designed to diagnose vector-borne diseases like canine leishmaniosis in regions where these diseases are endemic. This new test will be available in Europe and Asia starting February 2024. Another significant accomplishment is the expansion of the Fecal Dx® antigen testing platform, which includes the addition of Cystoisospora, a common intestinal parasite. This expansion will roll out in North America in March 2024 and globally by the third quarter of 2024.
IDEXX also launched Vello, a software solution aimed at improving communication between veterinary practices and pet owners. This tool supports better health outcomes by engaging pet owners through digital means and is integrated with IDEXX's existing practice management software like ezyVet®, Neo®, and Cornerstone®.
Financially, IDEXX is robust, with a diverse revenue stream sourced from various products and services, including diagnostic equipment, tests, and software solutions. Approximately 35% of its revenue comes from international markets. The company is a member of the S&P 500® Index, highlighting its significant role in the industry.
For more information about IDEXX’s products and services, visit idexx.com.
IDEXX Laboratories (NASDAQ: IDXX) has announced an expansion of its share repurchase program. The company's Board of Directors has authorized the repurchase of 5 million additional shares of common stock, supplementing the existing 1.3 million shares remaining under previous authorizations as of December 3, 2024.
The repurchases can be executed through open market operations, including Rule 10b5-1 plans, or through negotiated transactions at management's discretion. The program has no specified end date and can be suspended or discontinued at any time.
IDEXX Laboratories (NASDAQ: IDXX) announced a planned CFO transition. Brian McKeon will retire effective June 1, 2025, with Andrew Emerson, current Senior VP of Corporate and CAG Finance, succeeding him as Executive VP, CFO, and Treasurer on March 1, 2025. McKeon will serve as EVP and Special Advisor until his retirement to ensure a smooth transition. Emerson brings nearly 20 years of financial experience and 9 years at IDEXX, having overseen CAG finance since 2015, which generates over 90% of IDEXX's total revenue. The company reaffirmed its 2024 full year guidance as provided on October 31, 2024.
IDEXX Laboratories reported Q3 2024 results with revenue of $976 million, showing 7% reported growth and 6% organic growth. The Companion Animal Group (CAG) segment grew 7% reported and 6% organic, while Water revenue increased 13%. Earnings per share reached $2.80, up 11% reported and 12% comparable, with operating margin expansion of 110 basis points. The company adjusted its 2024 revenue guidance to $3,865-$3,890 million, reducing previous estimates by ~1% due to macro conditions affecting U.S. veterinary clinic visits. The updated EPS outlook is narrowed to $10.37-$10.53, maintaining consistent midpoint compared to prior guidance.
IDEXX Laboratories reported strong Q3 2024 results with 7% revenue growth reaching $976 million. The company achieved 6% organic growth, driven by Companion Animal Group (CAG) performance and Water revenue growth of 13%. Earnings per share reached $2.80, up 11% as reported.
The company adjusted its 2024 revenue guidance to $3,865-$3,890 million, a reduction of $38 million, reflecting near-term impacts on growth from macro conditions affecting U.S. veterinary clinic visits. The updated EPS outlook range is $10.37-$10.53, maintaining consistent projections supported by solid operating margin performance and benefits from lower projected interest expense.
IDEXX Laboratories, Inc. (NASDAQ: IDXX), a global leader in pet healthcare innovation, has announced the upcoming release of its 2024 third quarter financial results. The results will be made public on Thursday, October 31, 2024, before the market opens. Following the release, the company will host an analyst conference call at 8:30 a.m. EDT on the same day.
Investors and interested parties can access a live webcast of the conference call, along with a transcript of prepared remarks and the Q3 2024 Earnings Snapshot, through the IDEXX website at www.idexx.com/investors. An archived version of the webcast will be available after 1:00 p.m. ET and remain accessible for one year. For those preferring to listen via telephone, the call can be accessed by dialing 1-800-289-0462 or 1-323-794-2442 and using the passcode 205740.
IDEXX Laboratories, Inc. (NASDAQ: IDXX), a global leader in pet healthcare innovation, has announced its participation in the Morgan Stanley 22nd Annual Global Healthcare Conference. The company's President and CEO, Jay Mazelsky, along with Executive VP and CFO, Brian McKeon, will engage in a fireside chat on Wednesday, September 4, 2024, from 11:30 am to 12:05 pm (EDT).
Investors and interested parties can access a live audio webcast of the presentation through the IDEXX website at www.idexx.com/investors. For those unable to attend the live event, an archived version of the presentation will also be made available through the same link.
IDEXX Laboratories (NASDAQ: IDXX) reported Q2 2024 results with revenue of $1,004 million, a 6% increase as reported and 7% organic growth. Companion Animal Group (CAG) revenue grew 6% as reported and 7% organic, while Water revenue increased 9% as reported and 10% organic. CAG Diagnostics recurring revenue grew 6% as reported and 7% organic. EPS was $2.44, down 9% as reported but up 15% on a comparable basis, excluding a $0.56 per share impact from a litigation expense accrual.
The company updated its 2024 guidance, projecting revenue of $3,885 - $3,945 million (6.2% - 7.8% growth) and EPS of $10.31 - $10.59. The EPS outlook was reduced by $0.56 at midpoint due to the litigation expense accrual. IDEXX maintains a strong position in pet healthcare innovation, with record Q2 premium instrument placements and 11% annual growth in its global premium instrument installed base.
IDEXX Laboratories (NASDAQ: IDXX) has announced a time change for its 2024 second quarter financial results conference call. The call will now take place at 9:00 am ET on Tuesday, August 6, 2024. This adjustment aims to minimize conflicts with other industry earnings announcements. Investors can access the live webcast, transcript, and Q2 2024 Earnings Snapshot through the company's website at www.idexx.com/investors. An archived version of the webcast will be available after 1:00 pm ET on the same day and will remain accessible for one year. For those preferring to listen via telephone, the call can be accessed by dialing 1-800-289-0459 or 1-773-305-6837 with passcode 399723.
IDEXX Laboratories, Inc. (NASDAQ: IDXX) has released its 2023 Corporate Responsibility Report, highlighting progress in pet healthcare innovation and corporate responsibility goals. Key achievements include:
Healthcare Advancements: Launch of IDEXX Cystatin B Test for kidney injury detection and development of new products like IDEXX inVue Dx™ Cellular Analyzer.
Community Support: Enabled access to care for over 245,000 animals in underserved communities in 2023.
Workplace Initiatives: Maintained gender balance in global management roles, supported women in STEM, and logged over 73,000 hours of employee learning and development.
Environmental Progress: Procured a virtual power purchase agreement for clean electricity in North America and installed a dual-source energy system at a European reference laboratory.
IDEXX Laboratories (NASDAQ: IDXX) will release its 2024 second quarter financial results on August 6, 2024, before market opening. An analyst conference call will follow at 8:30 a.m. EDT, accessible via webcast and telephone. The webcast and a transcript will be available on IDEXX's investor website and archived for a year. In addition, IDEXX will hold its 2024 Investor Day on August 15, 2024, at its headquarters in Westbrook, Maine, from 8:00 a.m. to noon EDT. Institutional investors and analysts can attend in person with prior registration or follow the live webcast.
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