IDEXX (IDXX) Q1 Earnings Surpass Estimates, 2024 View Slashed

Zacks05-01

IDEXX Laboratories, Inc. IDXX posted first-quarter 2024 earnings per share (EPS) of $2.81, up 10.2% year over year. The figure surpassed the Zacks Consensus Estimate by 4.9%. In the first quarter of ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2432685313?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/q9ezXlBlkX6qY0m.szhqFQ--~B/aD0zODA7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/29fecfcd499d2912d633de3e6b20668f","is_english":true,"pubTime":"2024-05-01 22:41","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2432685313","market":"us","top_or_hot":-1,"title":"IDEXX (IDXX) Q1 Earnings Surpass Estimates, 2024 View Slashed","media":"Zacks","content":"<div>\n<p>IDEXX Laboratories, Inc. IDXX posted first-quarter 2024 earnings per share (EPS) of $2.81, up 10.2% year over year. The figure surpassed the Zacks Consensus Estimate by 4.9%.\nIn the first quarter of ...</p>\n\n<a href=\"https://finance.yahoo.com/news/idexx-idxx-q1-earnings-surpass-144100237.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>IDEXX (IDXX) Q1 Earnings Surpass Estimates, 2024 View Slashed</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIDEXX (IDXX) Q1 Earnings Surpass Estimates, 2024 View Slashed\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-01 22:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/idexx-idxx-q1-earnings-surpass-144100237.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>IDEXX Laboratories, Inc. IDXX posted first-quarter 2024 earnings per share (EPS) of $2.81, up 10.2% year over year. The figure surpassed the Zacks Consensus Estimate by 4.9%.\nIn the first quarter of ...</p>\n\n<a href=\"https://finance.yahoo.com/news/idexx-idxx-q1-earnings-surpass-144100237.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IDXX","symbol_name":"爱德士实验室","start_time":0,"source_url":"https://finance.yahoo.com/news/idexx-idxx-q1-earnings-surpass-144100237.html","article_id":"2432685313","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/q9ezXlBlkX6qY0m.szhqFQ--~B/aD0zODA7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/29fecfcd499d2912d633de3e6b20668f"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2432685313","pubTimestamp":1714574460,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"IDEXX Laboratories, Inc.IDXX posted first-quarter 2024 earnings per share  of $2.81, up 10.2% year over year. The figure surpassed the Zacks Consensus Estimate by 4.9%.In the first quarter of 2024, comparable constant-currency EPS of $2.71 improved 8.8% year over year.First-quarter revenues increased 7.1% year over year  to $964.1 million. However, the metric missed the Zacks Consensus Estimate by 0.1%.The year-over-year upside was primarily driven by the 7% reported organic growth in Companion Animal Group  revenues.CAG Diagnostics’ recurring revenues increased 7% on a reported basis and organic basis, supported by the sustained benefits of IDEXX execution drivers. 8% global premium instrument placement growth and continued high customer retention levels supported the 11% annual growth in IDEXX's global premium instrument installed base.Veterinary software, services and diagnostic imaging systems’ revenues increased 12% on a reported basis and 8% organically, reflecting high recurring","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"IDXX":"爱德士实验室"},"translate_title":"IDEXX（IDXX）Q1盈利超过预期，2024年观点大幅下调","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"IDXX":1},"content_text":"IDEXX Laboratories, Inc. IDXX posted first-quarter 2024 earnings per share (EPS) of $2.81, up 10.2% year over year. The figure surpassed the Zacks Consensus Estimate by 4.9%.\nIn the first quarter of 2024, comparable constant-currency EPS of $2.71 improved 8.8% year over year.\nRevenues in Detail\nFirst-quarter revenues increased 7.1% year over year (7% organically) to $964.1 million. However, the metric missed the Zacks Consensus Estimate by 0.1%.\nThe year-over-year upside was primarily driven by the 7% reported organic growth in Companion Animal Group (“CAG”) revenues.\nCAG Diagnostics’ recurring revenues increased 7% on a reported basis and organic basis, supported by the sustained benefits of IDEXX execution drivers. 8% global premium instrument placement growth and continued high customer retention levels supported the 11% annual growth in IDEXX's global premium instrument installed base.\nVeterinary software, services and diagnostic imaging systems’ revenues increased 12% on a reported basis and 8% organically, reflecting high recurring revenue growth and continued momentum in cloud-based software placements.\nSegmental Analysis\nIDEXX derives revenues from four operating segments — CAG, Water, Livestock, Poultry and Dairy (“LPD”) and Other.\nIn the first quarter, CAG revenues rose 7% on a reported and organic basis year over year to $889.3 million.\nThe Water segment’s revenues increased 11% (same organically) year over year to $43.1 million.\n\nIDEXX Laboratories, Inc. Price, Consensus and EPS Surprise\n\nIDEXX Laboratories, Inc. price-consensus-eps-surprise-chart | IDEXX Laboratories, Inc. Quote\n\nFor the first quarter, LPD revenues decreased 3% on a reported and organic basis to $28.2 million.            \nRevenues from the Other segment fell 26.8% on a reported basis to $3.5 million.\nMargins\nThe gross profit in the first quarter rose 9.2% to $593.1 million. The gross margin expanded 120 basis points (bps) to 61.5% despite a 3.9% rise in the cost of revenues.\nSales and marketing expenses rose 1.1% to $149 million, while G&A expenses increased 31.3% to $92 million.  R&D expenses rose 17.8% to $52.6 million. Overall, the operating profit in the reported quarter was $298.9 million, up 6.6% year over year. However, the operating margin in the quarter contracted 14 bps to 31%.\nFinancial Position\nIDEXX exited the first quarter with cash and cash equivalents of $397.4 million compared with $453.9 million at the end of 2023. Total debt (including the current portion) was $695.8 million compared with $697.9 million at the end of 2023.\nThe cumulative net cash provided by operating activities was $198.6 million compared with $183.9 million in the prior-year comparable period.\n2024 Guidance\nIDEXX provided an updated outlook for 2024.\nThe company expects total revenues in the range of $3.895 billion-$3.965 billion (previously $3.930 billion-$4.040 billion). This suggests growth of 6.5%-8.5% (earlier 7.5%-10.5%) on a reported basis and 7%-9% (earlier 7%-10%) on an organic basis. The Zacks Consensus Estimate is currently pegged at $3.99 billion.\nIDEXX guided full-year EPS in the range of $10.82-$11.20 (previously $10.84-$11.33). This updated guidance indicates reported growth of 8%-11% (earlier 8%-13%). The Zacks Consensus Estimate for full-year EPS is currently pegged at $11.13.\nOur Take\nIDEXX exited the first quarter of 2024 with earnings beating, while revenues missed estimates. The performance reflected continued high interest from customers in adopting the company’s innovative, multi-modality testing platforms and solutions. The expansion of the gross margin in the quarter is highly promising.\nThe company achieved strong global growth across all its testing modalities, including IDEXX VetLab consumables, Reference laboratory diagnostic and consulting services and Rapid assay products.  \nMeanwhile, solid LPD gains in the United States and Europe were offset by lower Asia Pacific revenues, including the impacts of reduced herd health screening levels. The reduced financial outlook for the full year is discouraging. \nZacks Rank and Key Picks\nIDEXX Laboratories currently carries a Zacks Rank #3 (Hold).\nSome better-ranked stocks from the broader medical space are Medpace MEDP, Boston Scientific Corporation BSX and Encompass Health Corporation EHC.\nMedpace, sporting a Zacks Rank #1 (Strong Buy), reported a first-quarter 2024 EPS of $3.20, which beat the Zacks Consensus Estimate by 30.6%. Revenues of $511 million improved 17.7% from last year’s comparable figure. You can see the complete list of today’s Zacks #1 Rank stocks here.\nMedpace has an estimated 2024 earnings growth rate of 26.5% compared with the industry’s 12.3%. The company’s earnings surpassed estimates in each of the trailing four quarters, the average being 12.8%.\nBoston Scientific, carrying a Zacks Rank #2 (Buy), reported a first-quarter 2024 EPS of 56 cents, which topped the Zacks Consensus Estimate by 9.8%. Revenues of $3.86 billion outpaced the Zacks Consensus Estimate by 4.8%. \nBSX has an estimated long-term earnings growth rate of 12.5% compared to the industry’s 10.9%. The company surpassed earnings estimates in each of the trailing four quarters, the average being 7.5%.\nEncompass Health, carrying a Zacks Rank #2, reported a first-quarter 2024 adjusted EPS of $1.12, which surpassed the Zacks Consensus Estimate by 20.4%. Net operating revenues of $1.3 billion topped the Zacks Consensus Estimate by 3.6%.\nEHC has an estimated long-term earnings growth rate of 15.6% compared with the industry’s 11.7% growth. The company’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 18.7%.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nBoston Scientific Corporation (BSX) : Free Stock Analysis Report\nIDEXX Laboratories, Inc. (IDXX) : Free Stock Analysis Report\nMedpace Holdings, Inc. (MEDP) : Free Stock Analysis Report\nEncompass Health Corporation (EHC) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2432685313"}