IDEXX LaboratoriesNASDAQ: IDXX

WESTBROOK, Maine--(BUSINESS WIRE)--IDEXX Laboratories, Inc. (NASDAQ: IDXX), a leading company in pet healthcare innovation, has announced that Brian McKeon will retire on June 1, 2025. Andrew Emerson, who is currently the Senior Vice President of Finance for the Corporate and Companion Animal Group, will take over as Executive Vice President, Chief Financial Officer, and Treasurer starting March 1, 2025. Until his retirement, Mr. McKeon will continue to work as EVP and Special Advisor to the company.

I maintain a 'Sell' rating on IDEXX because of low clinical visits and demand in the U.S., setting a one-year price target of $400 per share. The company's Q3 results revealed a 2.1% drop in same-store clinical visits, which fell short of market expectations, prompting a reduction in revenue growth forecasts for FY24. Although IDEXX has strong recurring revenue and high retention rates, ongoing economic issues and high-interest rates are likely to affect its business growth.

IDEXX Laboratories, Inc. (NASDAQ:IDXX) will hold its Q3 2024 Earnings Conference Call on October 31, 2024, at 8:30 AM ET. The call will feature company representatives, including CFO Brian McKeon and President and CEO Jay Mazelsky, along with participants from various financial institutions. Please note that this conference is being recorded.

WESTBROOK, Maine--(BUSINESS WIRE)--In the 2024 Growth and Financial Performance Outlook section, the second paragraph's second sentence should state: At the midpoint, the expected full-year comparable operating profit margin growth of 30 - 60 basis points accounts for a roughly 40 basis point negative impact due to a customer contract resolution payment from the first quarter of 2023. (instead of: At midpoint, projected full year comparable operating profit margin expansion of 70 - 100 basis points inclu.)

Idexx Laboratories (IDXX) reported quarterly earnings of $2.80 per share, which is higher than the Zacks Consensus Estimate of $2.69 per share. This is an increase compared to last year's earnings of $2.53 per share.

On Thursday, IDEXX Laboratories reduced its yearly revenue prediction for the third time because they are noticing a decline in the number of pet owners visiting veterinary clinics. The company specializes in diagnostic equipment for animal health.

WESTBROOK, Maine--(BUSINESS WIRE)--IDEXX Laboratories, Inc. (NASDAQ: IDXX), a worldwide leader in pet healthcare advancements, has shared its results for the third quarter. The company reported revenues of $976 million for the third quarter of 2024, marking a 7% increase overall and a 6% increase organically, mainly due to a 7% growth in the Companion Animal Group (CAG) and a 13% rise in Water revenue. Additionally, CAG Diagnostics saw a recurring revenue growth of 7%.

Assess the anticipated performance of Idexx (IDXX) for the quarter that ended in September 2024. Instead of just focusing on the usual Wall Street revenue and profit predictions, take a closer look at some important metrics for a deeper understanding.

IDEXX Laboratories is likely to have performed well in the third quarter of 2024 due to effective implementation of its key strategies.