IDEXX (IDXX) Business Faces Macroeconomic Woes, FX Headwinds

Zacks06-21

IDEXX Laboratories, Inc. IDXX has been facing uncertain macroeconomic conditions. Currency headwinds continue to dent profit. The stock carries a Zacks Rank #4 (Sell) currently. Global macroeconomic ...

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The stock carries a Zacks Rank #4 (Sell) currently.\nGlobal macroeconomic ...</p>\n\n<a href=\"https://finance.yahoo.com/news/idexx-idxx-business-faces-macroeconomic-153600711.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) Business Faces Macroeconomic Woes, FX Headwinds</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) Business Faces Macroeconomic Woes, FX Headwinds\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-06-21 23:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/idexx-idxx-business-faces-macroeconomic-153600711.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>IDEXX Laboratories, Inc. IDXX has been facing uncertain macroeconomic conditions. Currency headwinds continue to dent profit. The stock carries a Zacks Rank #4 (Sell) currently.\nGlobal macroeconomic ...</p>\n\n<a href=\"https://finance.yahoo.com/news/idexx-idxx-business-faces-macroeconomic-153600711.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":"GB00B4LPDJ14.GBP","symbol_name":"FUNDSMITH EQUITY \"R\" (GBP) ACC","start_time":0,"source_url":"https://finance.yahoo.com/news/idexx-idxx-business-faces-macroeconomic-153600711.html","article_id":"2445601947","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/ZcqDt7bCeBMLkGs_KJ1O8A--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/228e67967b066e7a755ae3614be720e1"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2445601947","pubTimestamp":1718984160,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"IDEXX Laboratories, Inc. IDXX has been facing uncertain macroeconomic conditions. Currency headwinds continue to dent profit. The stock carries a Zacks Rank #4  currently.IDEXX Laboratories, Inc. price | IDEXX Laboratories, Inc. Quote. On a positive note, IDEXX is focused on growing its global commercial capability to sustain strong CAG Diagnostics recurring revenue growth. In late 2023, the company expanded its operations in the United States for the first time in four years, complementing the seven international expansions it has advanced since 2021. Through these strategic investments, the company continues to strengthen its growth prospects by delivering high-touch commercial engagement in the fastest-growing regions while maintaining strong business performance. This expanded global commercial capability is yielding strong results overseas, with a notable 12% organic growth in international CAG diagnostic recurring revenues in the first quarter of 2024.Diagnostics has remained one","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"GB00B4LPDJ14.GBP":"FUNDSMITH EQUITY \"R\" (GBP) ACC","HIMS":"Hims & Hers Health Inc.","BK4585":"ETF&股票定投概念","BK4567":"ESG概念","RMD":"瑞思迈","BK4196":"保健护理服务","MEDP":"Medpace Holdings Inc.","BK4121":"生命科学工具和服务","BK4082":"医疗保健设备","LU2404859741.USD":"FUNDSMITH EQUITY FUND \"R\" (USD) INC","BK4588":"碎股","LU2404859667.USD":"FUNDSMITH EQUITY FUND \"R\" (USD) ACC","LU0690374961.EUR":"FUNDSMITH EQUITY \"R\" (EUR) INC","LU0690374615.EUR":"FUNDSMITH EQUITY \"R\" (EUR) ACC","IDXX":"爱德士实验室","BK4504":"桥水持仓","BK4548":"巴美列捷福持仓","LU1989771016.USD":"东方汇理环球老龄化投资基金 A2 Acc","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","LU1291159041.SGD":"CPR Invest - Global Silver Age A2 Acc SGD-H","RMD.AU":"Resmed DRC","GB00B4QBRK32.GBP":"FUNDSMITH EQUITY \"R\" (GBP) INC"},"translate_title":"IDEXX(IDXX)业务面临宏观经济困境和外汇不利因素","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MEDP":1,"IDXX":1,"HIMS":1,"RMD.AU":0.9,"RMD":0.9},"content_text":"IDEXX Laboratories, Inc. IDXX has been facing uncertain macroeconomic conditions. Currency headwinds continue to dent profit. The stock carries a Zacks Rank #4 (Sell) currently.\nGlobal macroeconomic conditions, supply chain disruptions leading to unit cost increases of raw materials, shortages of healthcare staff, fluctuations in foreign currency exchange rates and volatility in capital markets have been affecting IDEXX’s results of operations. These challenges, along with geopolitical instability, including the current war in Ukraine, have affected IDEXX’s supply chain operations globally. With sustained inflationary pressure, the company may struggle to keep in check its cost of revenues and operating expenses.During the first quarter of 2024, IDEXX saw a significant 31.3% uptick in general and administrative expenses. Further, U.S. clinical visit growth levels in the first quarter were relatively softer than anticipated. This was likely due to the ongoing staffing challenges at veterinary clinics and broader cumulative macroeconomic pressure on U.S. consumers.\nThe majority of IDEXX's consolidated revenues are from product sales in international markets, with approximately 21% of total revenues in 2023 derived from products manufactured or sourced in U.S. dollars and sold internationally in local currencies. Thus, the strengthening of the rate of exchange of the U.S. dollar relative to other currencies hurt the company’s revenues derived in other currencies and profits from products manufactured in the United States and sold internationally. In 2023, foreign exchange reduced operating profits by $25 million (operating margin gains by 60 basis points) and earnings per share by 24 cents.\n\nIDEXX Laboratories, Inc. Price\n\nIDEXX Laboratories, Inc. price | IDEXX Laboratories, Inc. Quote\n\nDuring the first quarter of 2024, foreign exchange had a limited impact on the gross margin, operating profit and earnings. IDEXX’s updated 2024 revenue forecast includes a $35 million impact, equivalent to about a 1% decrease, due to the recent appreciation of the U.S. dollar.\nOn a positive note, IDEXX is focused on growing its global commercial capability to sustain strong CAG Diagnostics recurring revenue growth. In late 2023, the company expanded its operations in the United States for the first time in four years, complementing the seven international expansions it has advanced since 2021. Through these strategic investments, the company continues to strengthen its growth prospects by delivering high-touch commercial engagement in the fastest-growing regions while maintaining strong business performance. This expanded global commercial capability is yielding strong results overseas, with a notable 12% organic growth in international CAG diagnostic recurring revenues in the first quarter of 2024.Diagnostics has remained one of the fastest-growing areas of the veterinary clinic since the determination of a patient's health status and the best treatment path very often requires testing. IDEXX largely provides advanced diagnostic capabilities that meet veterinarians’ diverse needs through a variety of modalities, including in-clinic diagnostic solutions and outside reference laboratory services. These diagnostic capabilities generate a mix of recurring and non-recurring revenues.\nKey Picks\nSome better-ranked stocks in the broader medical space are Him & Hers Health HIMS, Medpace MEDP and ResMed RMD. While Hims & Hers Health sports a Zacks Rank #1 (Strong Buy), Medpace and ResMed carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks Rank #1 stocks here.\nHims & Hers Heath stock has surged 165.9% in the past year. Estimates for the company’s earnings have moved upward from 18 cents to 19 cents for 2024 and from 33 cents to 35 cents for 2025 in the past seven days.\nHIMS’ earnings beat estimates in three of the trailing four quarters and missed in one, delivering an average surprise of 79.2%. In the last reported quarter, it posted an earnings surprise of a staggering 150%.\nEstimates for Medpace’s 2024 earnings per share have remained constant at $11.29 in the past 30 days. Shares of the company have surged 81.9% in the past year compared with the industry’s 5% growth.\nMEDP’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 12.8%. In the last reported quarter, it delivered an earnings surprise of 30.6%.\nEstimates for ResMed’s fiscal 2024 earnings per share have remained constant at $7.70 in the past 30 days. Shares of the company have declined 1.6% in the past year compared with the industry’s fall of 1.7%.\nRMD’s earnings surpassed estimates in three of the trailing four quarters and missed in one, the average surprise being 2.8%. In the last reported quarter, it delivered an earnings surprise of 10.9%.\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\nResMed Inc. (RMD) : Free Stock Analysis Report\nIDEXX Laboratories, Inc. (IDXX) : Free Stock Analysis Report\nMedpace Holdings, Inc. (MEDP) : Free Stock Analysis Report\nHims & Hers Health, Inc. (HIMS) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"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":"4.24.2","shortVersion":"4.24.2","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/2445601947"}