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Dec 31, 2024
IDEXX Q4 2024 Earnings Report
IDEXX reported a solid finish to 2024, driven by growth in the Companion Animal Group and strategic execution.
Key Takeaways
IDEXX Laboratories announced its fourth-quarter results, with revenue reaching $954 million, a 6% increase year-over-year. Earnings per diluted share were $2.62, up 13% as reported and 10% on a comparable basis. The company's growth was supported by the Companion Animal Group and benefits from IDEXX's execution drivers.
IDEXX's Q4 revenue reached $954 million, a 6% increase year-over-year on a reported and organic basis.
Earnings per diluted share for Q4 were $2.62, a 13% increase as reported and 10% on a comparable basis.
CAG Diagnostics recurring revenue grew by 6% reported and 7% organically, driven by IDEXX VetLab consumable gains and solid reference laboratory and consulting services growth.
The company began shipping the IDEXX inVue Dx™ Cellular Analyzer and plans to launch IDEXX Cancer Dx™ screening for canine lymphoma in late March 2025.
Forward Guidance
IDEXX projects full year revenue growth of 4% - 7% as reported and 6% - 9% on an organic basis. 2025 EPS guidance of $11.74 - $12.24 reflects expectations for solid organic revenue gains and a targeted 200 - 250 basis points of reported operating margin improvement.
Positive Outlook
- Full year revenue growth of 4% - 7% as reported and 6% - 9% on an organic basis
- CAG Diagnostics recurring revenue growth of 3% - 6% reported and 5% - 8% organic
- Estimated 4% - 4.5% full year benefit from net price improvement
- Targeted 200 - 250 basis points of reported operating margin improvement
- Benefit from lapping the 2024 discrete litigation expense accrual.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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