IDEXX Laboratories (IDXX) Beats on Q1 Earnings & Revenues

Headquartered in Delaware NJ, IDEXX Laboratories, Inc. IDXX is a developer, manufacturer and distributer of products and services primarily for the companion animal veterinary, livestock and poultry, water testing and dairy markets. The company also sells a series of portable electrolytes and blood gas analyzers for the human point-of-care medical diagnostics market.

Currently, IDEXX has a Zacks Rank #2 (Buy) but that could change following its impressive first-quarter 2017 earnings report which has just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here). We have highlighted some of the key details from the just-released announcement below:

Earnings: The current Zacks Consensus Estimate is pegged at 61 cents per share. IDEXX’s first-quarter earnings per share came in at 77 cents, an increase of 51% year-over-year on reported basis. On a constant currency basis, this figure improved 53% year over year.

Revenues: IDEXX posted revenues of almost $462 million, an increase of 10.6% year over year, which has beaten the Zacks Consensus Estimate for revenues of $455.41 million by 1.4%.

Key Stats: Among its four business segments, IDEXX delivered first-quarter revenues of $403.2 million (up 12.7%) in CAG, $25.0 million (up 6.2%) in Water, $ 29.3million (down 5%) Livestock, Poultry and Dairy (LPD)and $4.40 million (down 20%) in the other segment.

Major Factors: Per management, growth in business in first quarter is majorly driven by strength in the CAG revenue segment. Furthermore, the highly successful commercial model at the CAG space in the U.S. has yielded high solid returns in the quarter.

Coming to the guidance, the company has raised the 2017 revenue guidance in the band of $1,925 million – $1,950 million. The company expects full year adjusted earnings in the range of $2.95 – $3.11.

Stock Price: Following the earnings release, share prices did not show any movement in the pre-market trading session.

Check back later for our full write up on this IDEXX earnings report later!

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