IDEXX Q2 2021 Earnings Report
Key Takeaways
IDEXX Laboratories reported Q2 2021 revenues of $826 million, a 30% increase, with EPS of $2.34, a 36% increase. The company also increased its 2021 revenue and EPS guidance.
Reported revenue growth of 30% and organic revenue growth of 25%, driven by CAG Diagnostics recurring revenue growth of 30% as reported and 26% organic
Delivered EPS of $2.34, representing 36% growth as reported and 33% on a comparable basis
Increased 2021 revenue guidance to $3,170 million - $3,205 million, reflecting higher expectations for reported growth of 17% - 18.5% and organic growth of 14.5% - 16%, supported by projected CAG Diagnostics recurring revenue growth of 18% - 19.5% as reported and 16% - 17.5% organic
Raised 2021 EPS outlook to $8.20 - $8.36, reflecting an increase of 1% - 1.5% in the organic revenue growth outlook and expectations for higher operating margins of 28.6% - 29.1%
IDEXX
IDEXX
IDEXX Revenue by Segment
IDEXX Revenue by Geographic Location
Forward Guidance
IDEXX provided full year 2021 guidance for revenue between $3,170 million and $3,205 million and EPS between $8.20 and $8.36.
Positive Outlook
- Revenue $3,170-$3,205 million
- Reported growth 17%-18.5%
- Organic growth 14.5%-16%
- CAG Diagnostics Recurring Revenue Growth Reported growth 18%-19.5%
- CAG Diagnostics Recurring Revenue Organic growth 16%-17.5%
Challenges Ahead
- Operating Margin 28.6%-29.1%
- Operating margin expansion 290-340 bps
- Comparable margin expansion 175-225 bps
- EPS $8.20-$8.36
- Reported EPS growth 22%-25%
Revenue & Expenses
Visualization of income flow from segment revenue to net income