NASDAQ$IDXX
IDEXX Laboratories Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
IDEXX's Q1 2024 results were announced, demonstrating revenue growth driven by the Companion Animal Group and Water segments.
IDEXX Laboratories reported a 7% increase in revenue for Q1 2024, reaching $964 million. EPS increased by 10% to $2.81. The company is updating its full year revenue growth outlook range to 6.5% - 8.5% as reported and 7% - 9% organic.
- Revenues reached $964 million, a 7% increase as reported and organic.
- Companion Animal Group (CAG) grew by 7% as reported and organic.
- Water revenue increased by 11% as reported and organic.
- Earnings per diluted share (EPS) were $2.81, a 10% increase as reported.
Headline financials
Revenue & EPS history
IDEXX · Revenue · Quarterly
$964M
Revenue by segment
IDEXX · $829M total across 9 segments · Q4 2022
- Reference labs$283M+4.2%34.2%
- VetLab consumables$261M+3.8%31.5%
- Rapid assay products$71.1M+7.1%8.6%
- Vet software & imaging$66.9M+15.3%8.1%
- Water$39.3M+5.9%4.7%
- Dx capital instruments$38.9M-10.5%4.7%
- LPD$33.4M-1.7%4.0%
- Dx services & accessories$27.1M-2.1%3.3%
- Other$7.33M-32.7%0.9%
Forward guidance
IDEXX is updating its full year revenue growth outlook range to 6.5% - 8.5% as reported and 7% - 9% organic. The Company maintained its full year reported operating margin outlook of 30.2% - 30.7%. The Company updated its EPS outlook range to $10.82 - $11.20.
Tailwinds
- Updated revenue growth outlook range to 6.5% - 8.5% as reported and 7% - 9% organic.
- CAG Diagnostics recurring revenue growth outlook range of 6.5% - 8.5% as reported and 7.5% - 9.5% organic.
- Maintained full year reported operating margin outlook of 30.2% - 30.7%.
- Projected full year operating margin profit expansion of 20 - 70 basis points.
- Updated EPS outlook range to $10.82 - $11.20.
Headwinds
- Includes a $35 million negative impact from the recent strengthening of the U.S. dollar.
- Reduction of 1% to the high end of the organic revenue growth range to reflect near-term moderation in U.S. clinical visit growth trends.
- Reduction of $0.08 at midpoint in EPS outlook, reflecting ~$0.11 of negative foreign exchange rate impact compared to previous guidance.
- Projected full year operating margin profit expansion of 20 - 70 basis points is net of a ~40 basis point negative growth impact from lapping a customer contract resolution payment in Q1 2023.
- Updated EPS growth outlook is 8% - 11% as reported and 9% - 13% on comparable basis, net of a ~2% negative growth impact from lapping a customer contract resolution payment in Q1 2023.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+0.7%
Avg return
Earnings day
+1.4%
Avg return
5 days after
+2.8%
Avg return
30 days after
43%
30 / 69 earnings
Positive
+27.5%
Q2 2025
Best reaction
-18.9%
Q1 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.4% | -0.6% | -0.1% | |
| Q4 2025 | -4.8% | -3.9% | -3.2% | |
| Q3 2025 | +14.9% | +12.5% | +15.3% | |
| Q2 2025 | +27.5% | +22.9% | +18.4% | |
| Q1 2025 | +9.0% | +9.5% | +18.7% | |
| Q4 2024 | +11.1% | +8.9% | +3.6% | |
| Q3 2024 | -7.5% | -7.8% | -6.5% | |
| Q2 2024 | +2.6% | +6.1% | +3.1% | |
| Q1 2024 | -3.4% | -3.2% | +0.9% | |
| Q4 2023 | +7.6% | +8.5% | +5.8% | |
| Q3 2023 | +5.0% | +5.9% | +20.8% | |
| Q2 2023 | -6.4% | -9.1% | -7.8% | |
| Q1 2023 | -2.2% | -0.2% | -4.0% | |
| Q4 2022 | +5.2% | +0.7% | -0.0% | |
| Q3 2022 | +3.6% | +3.4% | +22.1% | |
| Q2 2022 | +2.2% | +2.4% | -12.1% | |
| Q1 2022 | -11.7% | -20.9% | -14.5% | |
| Q4 2021 | +5.0% | +0.8% | +4.3% | |
| Q3 2021 | -6.1% | -4.4% | -10.1% | |
| Q2 2021 | -3.6% | -0.8% | -5.1% | |
| Q1 2021 | -3.6% | -1.0% | +0.1% | |
| Q4 2020 | -1.4% | +2.1% | -1.3% | |
| Q3 2020 | +0.5% | +5.0% | +7.4% | |
| Q2 2020 | +4.8% | +5.8% | +2.6% | |
| Q1 2020 | -0.7% | +3.4% | +13.3% | |
| Q4 2019 | -2.8% | -3.3% | -10.3% | |
| Q3 2019 | +1.1% | -3.5% | -8.1% | |
| Q2 2019 | -4.7% | -4.1% | +2.7% | |
| Q1 2019 | +4.5% | +8.6% | +7.7% | |
| Q4 2018 | -4.5% | -1.9% | +1.5% | |
| Q3 2018 | -3.4% | -4.6% | -3.9% | |
| Q2 2018 | -1.7% | -0.8% | +3.7% | |
| Q1 2018 | +6.0% | +5.5% | +10.0% | |
| Q4 2017 | -0.4% | -3.7% | -0.7% | |
| Q3 2017 | -3.1% | -5.4% | -4.9% | |
| Q2 2017 | -9.2% | -8.3% | -6.6% | |
| Q1 2017 | +0.6% | -1.5% | +2.9% | |
| Q4 2016 | +15.7% | +16.6% | +19.8% | |
| Q3 2016 | -1.6% | -0.9% | +6.6% | |
| Q2 2016 | +15.5% | +16.6% | +21.0% | |
| Q1 2016 | +5.6% | — | — | |
| Q4 2015 | +10.4% | — | — | |
| Q3 2015 | -8.8% | — | — | |
| Q2 2015 | +9.4% | — | — | |
| Q1 2015 | -18.9% | — | — | |
| Q4 2014 | -3.1% | — | — | |
| Q3 2014 | +9.8% | — | — | |
| Q2 2014 | -2.7% | — | — | |
| Q1 2014 | +2.9% | — | — | |
| Q4 2013 | +6.5% | — | — | |
| Q3 2013 | -1.0% | — | — | |
| Q2 2013 | -0.6% | — | — | |
| Q1 2013 | -6.4% | — | — | |
| Q4 2012 | -3.5% | — | — | |
| Q3 2012 | -1.1% | — | — | |
| Q2 2012 | -5.3% | — | — | |
| Q1 2012 | -3.4% | — | — | |
| Q4 2011 | -0.5% | — | — | |
| Q3 2011 | +3.2% | — | — | |
| Q2 2011 | +6.3% | — | — | |
| Q1 2010 | +0.0% | — | — | |
| Q1 2011 | +3.0% | — | — | |
| Q4 2008 | -3.9% | — | — | |
| Q4 2010 | -3.9% | — | — | |
| Q3 2009 | -1.4% | — | — | |
| Q3 2010 | -1.4% | — | — | |
| Q4 2009 | -2.7% | — | — | |
| Q2 2009 | -2.7% | — | — | |
| Q2 2010 | -2.7% | — | — |
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