Please do not leave this page until complete. This can take a few moments.
IDEXX Laboratories Inc. (Nasdaq: IDXX), on Wednesday posted fourth-quarter earnings and revenues that exceed market estimates and issued 2022 full-year financial guidance.
The Westbrook-based provider of veterinary diagnostics, veterinary practice software and water testing reported $1.89 in Q4 earnings per share. That's down from $2.01 per share a year ago but well above the $1.67 consensus forecast of analysts polled by Zacks Investment Research.
Fourth-quarter revenue was $801.09 million, an 11% increase over a year ago and 2.67% higher than the Zacks consensus forecast.
The company said that fourth-quarter results reflect 13% reported and organic revenue gains in recurring revenues its Companion Animal Group Diagnostics division, its largest business division by far, with high gains across U.S. and international regions.
IDEXX shares were up 4.15% at 10:15 a.m. EDT, giving the stock a market value of around $45.35 billion.
"As a purpose-driven company focused on improving the health and well-being of pets, people and livestock, our outstanding results reflect the high levels of execution across the IDEXX organization through the challenges of the COVID-19 pandemic," said Jay Mazelsky, IDEXX’s CEO, in Wednesday's announcement.
"We are well-positioned to build on this momentum moving forward and to address the still significant untapped potential for companion animal health care globally."
Looking ahead to full-year performance, the company said it expects revenue growth of 9% to 11% on a reported basis and 10% to 12% revenue growth on an organic basis, supported by 10.5% to 12% reported growth, and 12% to 14% organic growth in Companion Animal Group Diagnostics recurring revenues.
IDEXX also said projected full-year earnings per share of $9.27 to $9.59, reflecting a targeted 50 to 100 basis points of comparable operating margin improvement and building on 2021's strong performance.
IDEXX employs more than 10,000 people and offers products to customers in over 175 countries.
The Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Learn MoreWork for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Learn MoreFew people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Few people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
0 Comments