IDEXX beats the Street on 4Q results, issues 2025 guidance

File photo IDEXX Laboratories Inc. posted fourth-quarter results on Monday morning.

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IDEXX Laboratories Inc. (Nasdaq: IDXX) on Monday posted fourth-quarter earnings and revenue that beat market expectations and issued initial financial guidance for 2025.

The Westbrook-based maker of veterinary diagnostics and software reported diluted earnings per share of $2.62, an increase of 13% as reported and 10% on a comparable basis.

That exceeded the $2.40 per share consensus estimate of analysts polled by Zacks Investment Research.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Fourth-quarter revenue was $954 million, an increase of 6% over a year ago on a reported and organic basis, driven by 6% growth in the company’s companion animal growth division. The figure is 1.87% above the Zacks consensus estimate.

File photo

Jay Mazelsky

“IDEXX had a solid finish to 2024, supported by continued high levels of execution by IDEXX teams globally,” said Jay Mazelsky, CEO and president. "The company is on the front end of a new wave of major innovation.”

He cited a “transformational” cell-analyzer product introduced in the fourth quarter and a canine cancer screening product to be launched next month in the United States and Canada.

"These types of innovations are highly sought-after by our customers and will dramatically enhance veterinarians' approaches to care management and address workflow bottlenecks in their practices," Mazelsky said.

IDEXX shares were trading 9.82% higher on Monday, giving the stock a market value of around $37.8 billion. Shares are trading 19% lower than a year ago.

2025 outlook

For all of 2025, the company said it expects revenue to be in the range of $4.055 billion to $4.170 billion, reflecting growth of 4% to 7% as reported and 6% to 9% organic.

IDEXX is also estimated 2025 earnings per share to range from $11.74 to $12.24, representing an increase of 10% to 15% as reported and 8% to 12% on a comparable basis.

The outlook assumes around $1.5 billion in share repurchases in 2025, subject to market conditions and equivalent to around 4% of the current equity market capitalization..

The company employs roughly 11,000 people worldwide, with customers in more than 175 countries.