NASDAQ$IDXX
IDEXX Laboratories Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
IDEXX announced second quarter results with revenue growth driven by Companion Animal Group and Water segments, while EPS decreased due to a litigation expense accrual.
IDEXX reported a 6% increase in revenue to $1,004 million in the second quarter of 2024. EPS decreased by 9% to $2.44, impacted by a litigation expense. The company is updating its full year revenue growth guidance range to $3,885 million to $3,945 million.
- Revenues increased by 6% as reported and 7% organically, reaching $1,004 million.
- Companion Animal Group (CAG) revenue grew by 6% as reported and 7% organically.
- Earnings per diluted share (EPS) were $2.44, a decrease of 9% as reported.
- Water revenue increased by 9% as reported and 10% organically.
Headline financials
Revenue & EPS history
IDEXX · Revenue · Quarterly
$1B
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
The Company is updating its full year revenue growth guidance range to $3,885 million to $3,945 million and EPS outlook range to $10.31 - $10.59.
Tailwinds
- Updated guidance range includes ~$15 million of favorable impact from more recent foreign exchange estimates.
- Adjustments to the organic revenue outlook were offset by $0.04 in favorable adjustments to foreign exchange estimates.
- Adjustments to the organic revenue outlook were offset by favorable refinements to interest expense.
- Adjustments to the organic revenue outlook were offset by favorable refinements to effective tax rate estimates.
Headwinds
- The Company is updating its full year revenue growth guidance range to $3,885 million to $3,945 million, a reduction of $15 million at midpoint.
- This reflects an adjustment of ~1% at midpoint to full year estimates for organic revenue growth, which is now projected at 6.2% to 7.8%, reflecting recent trends in U.S. clinical visit levels.
- The Company updated its full year reported operating margin outlook to reflect consistent midpoint goals for comparable operating margin improvement and to incorporate the expenses related to an ongoing litigation matter.
- The Company's reported operating margin outlook is 28.7% - 29.0%, including ~160 basis points of impact related to the discrete litigation expense accrual.
- The Company updated its EPS outlook range to $10.31 - $10.59, a reduction of $0.56 at midpoint, reflecting a $0.56 negative impact from a discrete litigation expense accrual.
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 Q2 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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