IDEXX Q4 2022 Earnings Report
Key Takeaways
IDEXX Laboratories reported a 3% increase in revenue for the fourth quarter of 2022, with solid organic revenue gains across its CAG, Water, and LPD business segments. The company's EPS was $2.05, an 8% increase, supported by operating margin expansion.
Achieved fourth quarter revenue growth of 3% reported and 7% organic.
Delivered fourth quarter EPS of $2.05, an increase of 8% as reported and 14% on a comparable basis.
CAG Diagnostics recurring revenue growth of 4% reported and 8% organic was achieved.
Provided initial outlook for 2023 revenue of $3,590 million - $3,690 million and EPS of $9.27 - $9.75.
IDEXX
IDEXX
IDEXX Revenue by Segment
IDEXX Revenue by Geographic Location
Forward Guidance
The Company's revenue guidance range reflects full year 2023 growth of 6.5% - 9.5% as reported and 7% - 10% growth on an organic basis, supported by 8% - 10.5% reported growth and 8.5% - 11% organic growth in CAG Diagnostics recurring revenues. The Company's revenue guidance range aligns with an estimated 2023 EPS of $9.27 - $9.75, reflecting a targeted 230 - 290 basis points of reported operating margin improvement, including benefits from the lapping of discrete 2022 R&D investments.
Revenue & Expenses
Visualization of income flow from segment revenue to net income