IDEXX forecasts 2026 above estimates, but cautious clinic visit outlook weighs on shares

Adds share movement in paragraph 2, CEO comment in paragraph 3, analyst comment in paragraph 6

By Sahil Pandey

Feb 2 (Reuters) - Animal diagnostics maker IDEXX Laboratories IDXX.O forecast 2026 revenue and profit slightly above Wall Street estimates on Monday, but said veterinary clinic visits will continue to remain under pressure.

Shares of IDEXX fell 6% to $628.70 in morning trade, after the company said the outlook includes a roughly 2% decline in U.S. same-store clinical visits and modestly lower net price realization than in 2025.

The company continues to see pressure "more on the wellness side," as pet owners navigate broader financial pressures, while non‑wellness visits have been steadier, CEO Jay Mazelsky said on a post-earnings call.

Pet owners have been cautious on routine wellness or preventive checkups for the past few quarters, while non-wellness visits which diagnose specific health conditions have been less pressured.

Wellness and discretionary visits remain more pressured than sick patient visits, with wellness visits down 3.6% in the fourth quarter, the company said.

Leerink Partners analyst Daniel Clark said "vet visits did decline in the quarter, although non-wellness visits were more resilient."

IDEXX offers diagnostic equipment and imaging systems that help vets diagnose and treat animals. It also provides veterinary software and runs reference laboratories for more complex tests.

The company expects 2026 revenue between $4.63 billion and $4.72 billion and profit per share in the range of $14.29 to $14.80. The midpoints were marginally above analysts' average estimates of about $4.66 billion for revenue and $14.50 per share profit, according to LSEG data.

"It might be a bit of a battleground for IDEXX's stock today as the 4Q25 upside was more muted than the prior two quarters," said Stifel analyst Jonathan Block.

Quarterly revenue came in at $1.09 billion, compared with analysts' estimate of $1.07 billion.

IDEXX earned a quarterly profit of $3.08 per share, beating estimates of $2.93.

(Reporting by Sahil Pandey in Bengaluru; Editing by Shreya Biswas and Shailesh Kuber)

((Sahil.Pandey@thomsonreuters.com;))