Companion

2024

Future

Million

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<p class="has-drop-cap">IDEXX Laboratories, Inc. (NASDAQ: IDXX), a global leader in pet healthcare innovation, reported a strong performance in the <a aria-label="fourth quarter of 2023 (opens in a new tab)" href="https://www.idexx.com/en/about-idexx/investors/quarterly-earnings-releases/" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">fourth quarter of 2023</a>, underlining its continued growth and operational excellence.</p>
<p>IDEXX Laboratories announced a revenue of $901.6 million for the fourth quarter of 2023, marking a 9% increase compared to the same period in the previous year. This growth was driven primarily by a 10% rise in Companion Animal Group (“CAG”) Diagnostics recurring revenue, supported by high-quality placements of CAG Diagnostics capital instruments, strong customer retention, new business gains, and net price realization. <br><br>Earnings per share (<a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="noopener noreferrer nofollow" class="deco-link">EPS</a>) for the quarter were $2.32, up 13% from the prior year, reflecting the company’s operational efficiency and strategic investments in growth. The strong quarter was further highlighted by a 10% organic growth in CAG Diagnostics recurring revenue, emphasizing IDEXX’s ability to expand its market presence and leverage its innovative diagnostic solutions.</p>
<h3 id="idexx-labs-outperforms-in-q4-with-2-32-eps">IDEXX Labs Outperforms in Q4 with $2.32 EPS</h3>
<p>The company’s fourth-quarter performance exceeded market expectations, with analysts projecting an EPS of $2.12 and revenue of $891.08 million. The actual revenue of $902 million and EPS of $2.32 not only surpassed these projections but also showcased IDEXX’s robust growth trajectory and ability to outperform in a competitive landscape. This outperformance is a testament to IDEXX’s strategic initiatives and its focus on delivering comprehensive pet healthcare solutions.</p>
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<h3 id="guidance-for-the-future">Guidance for the Future</h3>
<p>For 2024, IDEXX has set a revenue guidance range of $3,930 million to $4,040 million, reflecting an anticipated growth of 7.5% to 10.5%. This outlook is supported by expected CAG Diagnostics recurring revenue growth of 7.5% to 10.5%, both reported and on an organic basis. The EPS guidance for 2024 is set at $10.84 to $11.33, indicating an 8% to 13% increase. This guidance underscores the company’s confidence in its growth drivers and its commitment to sustaining momentum through innovations, such as the launch of the new slide-free cellular analyzer, IDEXX inVue Dx<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2122.png" alt="™" class="wp-smiley" style="height: 1em; max-height: 1em;">, targeted for late 2024.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/idexx-idxx-surpasses-expectations-with-902-million-in-q4-revenue-and-a-13-eps-increase/">IDEXX (IDXX) Surpasses Expectations with $902 Million in Q4 Revenue and a 13% EPS Increase</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

IDEXX (IDXX) Surpasses Expectations with $902 Million in Q4 Revenue and a 13% EPS Increase

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