Idexx Laboratories, a leading veterinary-technology company based in Westbrook, Maine, announced impressive financial results for the fourth quarter. The company's revenue surged, driven by a high demand for veterinarian equipment.
Profit and Earnings
- The company reported a profit of $194.5 million, or $2.32 per share, compared to $172.2 million, or $2.05 per share, in the same period the previous year.
- This exceeded analysts' expectations of $2.12 per share, according to a survey by FactSet.
- Idexx Laboratories posted a revenue of $901.6 million, experiencing a growth of nearly 9%.
- Analysts had predicted revenue of $891.9 million, indicating that the company outperformed expectations.
Segment Performance
- Revenue from the companion-animal unit witnessed an impressive rise of approximately 10% compared to the previous year.
- Water revenue experienced a steady growth of 6%.
- However, revenue from the Livestock Poultry and Dairy segment declined by 2%.
2024 Guidance
- Idexx Laboratories provided its guidance for 2024, which aligns closely with analysts' predictions.
- The company aims to achieve revenue between $3.93 billion and $4.04 billion in 2024, signifying a year-over-year growth rate of 7.5% to 10.5%.
- Analysts expected revenue of $3.97 billion for the same period.
Earnings Outlook
- For the full year, Idexx predicts earnings ranging from $10.84 to $11.33 per share.
- Analysts had forecasted earnings of $11.07 per share.
For more information, please visit Idexx Laboratories' website.
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