IDEXX (NASDAQ:IDXX) Q1 revenue leaps 7%, raises 2024 forecast

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IDEXX (NASDAQ:IDXX) Q1 revenue leaps 7%, raises 2024 forecast

Full story: https://grafa.com/news/idexx--nasdaq-idxx--q1-revenue-leaps-7---raises-2024-forecast-216194

IDEXX Laboratories (NASDAQ:IDXX) unveiled its first-quarter financial results for 2024, showcasing a robust 7% increase in revenue, reaching $964 million.

This growth was primarily fueled by strong performances in its Companion Animal Group (CAG) and Water segments.

The company reported a consistent 7% increase in both reported and organic revenue, with the Water segment demonstrating a notable 11% organic growth.

Additionally, IDEXX's CAG Diagnostics recurring revenue rose by 7%, indicating sustained demand for the company's veterinary diagnostic products and services.

In light of the positive quarterly performance, IDEXX has revised its 2024 revenue forecast upward, now expecting revenues to fall between $3,895 million and $3,965 million.

The company has also updated its earnings per share (EPS) guidance for the year to range from $10.82 to $11.20.

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Grafa
·05-01
Read the full story https://grafa.com/news/idexx--nasdaq-idxx--q1-revenue-leaps-7---raises-2024-forecast-216194
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This growth was primarily fueled by strong performances in its Companion Animal Group (CAG) and Water segments. The company reported a consistent 7% increase in both reported and organic revenue, with the Water segment demonstrating a notable 11% organic growth. Additionally, IDEXX's CAG Diagnostics recurring revenue rose by 7%, indicating sustained demand for the company's veterinary diagnostic products and services. In light of the positive quarterly performance, IDEXX has revised its 2024 revenue forecast upward, now expecting revenues to fall between $3,895 million and $3,965 million. 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