Core Viewpoint - IDEXX Laboratories, Inc. reported higher fourth-quarter earnings compared to the previous year, but its shares fell by 5.63 percent despite the positive earnings report [1]. Financial Performance - The company posted net earnings of $248.19 billion, or $3.08 per share, which is an increase from $216.15 billion, or $2.62 per share, a year earlier, reflecting a significant growth in profitability [1]. - Quarterly revenue increased by 14.2 percent to $1.09 trillion, indicating strong sales performance [1]. Stock Performance - IDEXX shares opened at $651.54 after a previous close of $670.46 and traded between $625.00 and $658.75 on the Nasdaq [2]. - The trading volume reached approximately 0.42 million shares, compared to an average of 0.56 million shares [2]. - The stock has a 52-week range of $356.14 to $769.98, showing considerable volatility [2].

Core Insights - IDEXX Laboratories, Inc. (IDXX) reported Q4 2025 earnings per share (EPS) of $3.08, an 18% increase year over year, surpassing the Zacks Consensus Estimate by 5.17% [2] - Full-year 2025 earnings reached $13.08, a 22.6% rise from 2024, exceeding the Zacks Consensus Estimate by 1.2% [2] Revenue Performance - Quarterly revenues increased by 14% year over year to $1.09 billion, exceeding the Zacks Consensus Estimate by 1.86% [3] - The Companion Animal Group (CAG) grew by 15% as reported and 13% organically, while Water revenue grew by 12% as reported and 10% organically [3] - Full-year 2025 total revenues were $4.30 billion, a 10% improvement from 2024, driven by 9% reported and 8% organic growth in CAG Diagnostics recurring revenue, beating the Zacks Consensus Estimate by 0.5% [4] Segment Analysis - CAG revenues rose 14.7% year over year to $998.5 million [6] - Water segment revenues increased by 11.9% to $50.5 million [6] - Livestock, Poultry, and Dairy (LPD) revenues grew by 8.5% to $37.5 million [6] - Revenues from the Other segment decreased by 0.4% to $4.1 million [7] Margin and Expense Overview - Gross profit rose by 15.3% to $658.1 million, with gross margin expanding by 55 basis points to 60.4% despite a 12.7% rise in the cost of revenues [8] - Sales and marketing expenses increased by 11.3% to $167.1 million, while G&A expenses rose by 7.4% to $109 million, and R&D expenses jumped by 15.8% to $66.8 million [8] Financial Position - IDEXX ended Q4 with cash and cash equivalents of $180.1 million, down from $288.3 million at the end of 2024 [10] - Cumulative net cash from operating activities was $1.18 billion, compared to $929 million in the prior year [10] 2026 Guidance - IDEXX forecasts 2026 revenues between $4.63 billion and $4.72 billion, implying 7.6%-9.6% growth on a reported basis [11] - Full-year EPS is projected to be between $14.29 and $14.80, indicating growth of 9-13% [11] Strategic Outlook - The company highlighted a pivotal year in 2025 with the launch of IDEXX Cancer Dx for canine lymphoma and strong adoption of IDEXX inVue Dx, indicating a new phase of growth [13] - IDEXX enters 2026 with a robust innovation pipeline and strong momentum across its global business [13]

Financial Data and Key Metrics Changes - IDEXX reported a 14% increase in revenue for Q4 2025, with 12% organic growth, driven by a 10% organic growth in CAG Diagnostics' recurring revenues [4][5] - Full-year EPS reached $13.08, up 14% year-over-year on a comparable basis, with Q4 EPS at $3.08, reflecting a 17% increase [6][14] - Operating margins for the full year were 31.6%, an increase of 90 basis points on a comparable basis [5][13] Business Line Data and Key Metrics Changes - CAG Diagnostics saw a 13% organic growth in Q4, with 10% organic growth in water and 4% in LPD [7] - IDEXX VetLab consumable revenues increased 15% organically in Q4, supported by a 12% increase in the global premium instrument install base [9][11] - Rapid Assay revenues declined 3% on an organic basis in Q4, while Global Reference Lab revenues expanded 9% organically [10][11] Market Data and Key Metrics Changes - U.S. CAG Diagnostics' recurring revenues increased 9% organically in Q4, with approximately 4% net price improvement and 5% volume growth [7] - International organic CAG Diagnostics recurring revenue growth was 12% in Q4, reflecting strong demand and new business expansion [8][9] - U.S. same-store clinical visit declines were approximately 1.7% in Q4 and 1.9% for the full year 2025 [8] Company Strategy and Development Direction - IDEXX aims to deliver solid organic revenue growth and profit gains in 2026, with initial revenue guidance of $4.632 billion to $4.72 billion [16][22] - The company is focusing on expanding its commercial presence in key international regions and enhancing its diagnostic solutions [25][27] - IDEXX plans to maintain a strong emphasis on innovation, with new product launches and enhancements to existing platforms [30][33] Management's Comments on Operating Environment and Future Outlook - Management noted that the human-animal bond continues to deepen, with pet owners prioritizing high-quality care despite economic pressures [26][40] - The company anticipates challenges in wellness visits due to macroeconomic factors but sees potential growth in non-wellness visits as pandemic pets age [45][46] - Management expressed confidence in the company's strategy and the opportunities ahead, emphasizing the importance of diagnostics in veterinary care [40][41] Other Important Information - IDEXX's balance sheet remains strong, with lower leverage ratios and a free cash flow of $1.1 billion for 2025 [15][16] - The company allocated $1.2 billion for share repurchases, supporting a reduction in diluted shares outstanding [15] Q&A Session Questions and Answers Question: Insights on vet visit dynamics and pricing - Management acknowledged headwinds in wellness visits due to economic pressures but noted growth in non-wellness visits, particularly among aging pets [45][46] - There has been some moderation in pricing from corporate practices, with a focus on driving demand and patient traffic [46] Question: Drivers of consumables growth - Management highlighted the importance of growing the installed base of premium instruments and increasing utilization through innovation as key drivers of consumables growth [52][53] Question: Reference lab growth and market share - Management reported strong global growth in reference lab services, driven by investments in infrastructure and innovation, leading to increased market share [57][58]

Financial Data and Key Metrics Changes - IDEXX reported a 14% increase in revenue for Q4 2025, with 12% organic growth, driven by a 10% organic growth in CAG Diagnostics' recurring revenues [5][6] - Full-year operating margins reached 31.6%, an increase of 90 basis points on a comparable basis, with full-year EPS of $13.08, up 14% year-over-year [7][15] - Q4 EPS was $3.08 per share, up 17% year-over-year on a comparable basis, benefiting from strong operational results and a lower effective tax rate [15][16] Business Line Data and Key Metrics Changes - CAG Diagnostics' recurring revenue increased 10% organically in Q4, with 13% organic growth in CAG, 10% in water, and 4% in LPD [8][12] - IDEXX VetLab consumable revenues increased 15% organically in Q4, supported by a 12% increase in the global premium instrument install base [10][12] - Rapid Assay revenues declined 3% on an organic basis in Q4, constrained by pressure on U.S. wellness visits [11] Market Data and Key Metrics Changes - U.S. same-store clinical visit declines were approximately 1.7% in Q4 and 1.9% for the full year 2025, with wellness visits down 3.6% in Q4 [9][27] - International organic CAG Diagnostics recurring revenue growth was 12% in Q4, with strong growth in premium instrument install base [9][10] - The international regions maintained strong growth, highlighting significant global opportunities for diagnostic solutions [10] Company Strategy and Development Direction - IDEXX aims to deliver solid organic revenue growth and profit gains in 2026, with initial revenue guidance of $4.632 billion to $4.72 billion, reflecting a 7.6% to 9.6% increase [17][18] - The company is focused on expanding its commercial presence in key international regions and enhancing its diagnostic solutions through innovation [26][28] - IDEXX plans to maintain a strong balance sheet while investing in innovation and commercial capabilities to support long-term growth [16][17] Management's Comments on Operating Environment and Future Outlook - Management noted that the human-animal bond continues to deepen, with pet owners prioritizing high standards of care despite economic challenges [27][43] - The company expects to see continued growth in diagnostics frequency and utilization per visit, driven by innovations and customer retention [29][30] - Management acknowledged macroeconomic pressures affecting wellness visits but expressed optimism about growth in non-wellness visits as pandemic pets age [47][48] Other Important Information - IDEXX's free cash flow for 2025 was $1.1 billion, representing 100% of net income, with capital spending of $125 million [16] - The company allocated $1.2 billion for share repurchases, reducing diluted shares outstanding by 2.7% year-over-year [16] - IDEXX's software solutions saw strong performance, with double-digit growth in practice information management systems and pet owner engagement tools [40][41] Q&A Session Summary Question: Insights on vet visit dynamics and pricing - Management observed headwinds primarily in wellness visits due to macroeconomic pressures, while non-wellness visits showed growth [47][48] - There is some moderation in pricing from corporate practices, with a focus on driving demand and patient traffic [48] Question: Drivers of consumables growth - Growth in consumables is driven by an expanding installed base of premium instruments and increased utilization through innovation [55][56] - The inVue platform is expected to contribute to consumables growth as it gains traction in the market [56] Question: Reference lab growth and market share - IDEXX is experiencing strong global growth in reference labs due to investments in infrastructure and innovation, with approximately 18% of competitive submissions [60][61] Question: Innovation contributions and future outlook - The inVue Dx and Cancer Dx platforms are expected to have a leveraged impact across IDEXX's portfolio, enhancing overall economic value [65][66] - The direct revenue contribution from Cancer Dx is modest, but the long-term opportunity is significant, estimated at $1.1 billion [67][68]

Financial Data and Key Metrics Changes - IDEXX reported a 14% increase in revenue for Q4 2025, with 12% organic growth, driven by a 10% organic growth in CAG Diagnostics' recurring revenues [4][5] - Full-year EPS reached $13.08, up 14% year-over-year on a comparable basis, with Q4 EPS at $3.08, reflecting a 17% increase [5][12] - Operating margins for the full year were 31.6%, an increase of 90 basis points on a comparable basis [5][11] Business Line Data and Key Metrics Changes - CAG Diagnostics' recurring revenue grew 10% organically in Q4, with 13% organic growth in CAG and 10% in water [6][10] - IDEXX VetLab consumable revenues increased 15% organically in Q4, supported by a 12% increase in the global premium instrument install base [8][10] - Rapid Assay revenues declined 3% on an organic basis in Q4, while Global Reference Lab revenues expanded 9% organically [9][10] Market Data and Key Metrics Changes - U.S. CAG Diagnostics' recurring revenues increased 9% organically in Q4, with approximately 4% net price improvement and 5% volume growth [6][10] - International organic CAG Diagnostics recurring revenue growth was 12% in Q4, reflecting strong demand and new business expansion [7][10] - U.S. same-store clinical visit declines were approximately 1.7% in Q4 and 1.9% for the full year 2025, with wellness visits down 3.6% in Q4 [7][10] Company Strategy and Development Direction - IDEXX aims to deliver solid organic revenue growth and profit gains in 2026, with initial revenue guidance of $4.632 billion to $4.72 billion, reflecting a 7.6%-9.6% increase [14][15] - The company plans to expand its premium instrument install base, targeting 5,500 inVue Dx instruments in 2026 [16][19] - IDEXX is focused on enhancing its commercial capabilities in key international markets to drive diagnostics adoption and utilization [25][26] Management's Comments on Operating Environment and Future Outlook - Management noted that the human-animal bond continues to deepen, with pet owners prioritizing high standards of care despite economic challenges [24][38] - The company anticipates continued pressure on clinical visits but sees potential for growth in diagnostics frequency and utilization [24][41] - Management expressed confidence in the company's strategy and the opportunities ahead, emphasizing the importance of innovation and customer partnerships [38][39] Other Important Information - Full-year free cash flow was $1.1 billion for 2025, representing 100% of net income, with capital spending of $125 million [13] - The company plans for a consistent year-to-year tax rate, excluding share-based compensation effects, and expects a foreign exchange benefit of approximately $0.22 year-over-year [18][19] Q&A Session Summary Question: Insights on vet visit dynamics and pricing - Management observed headwinds primarily in wellness visits, attributing it to macroeconomic pressures, while non-wellness visits showed growth [41][43] - There is a recognition among corporate practices of the need to moderate pricing to drive demand and patient traffic [43][44] Question: Drivers of consumables growth - The growth in consumables is driven by an expanding installed base of premium instruments and increased utilization through innovation [49][51] - Management highlighted the importance of quality placements and the integration of new technologies in driving consumables growth [50][52] Question: Reference lab market share gains - Management indicated strong global performance in reference lab growth, supported by investments in infrastructure and innovation [54][56] - The company is seeing increased customer focus on patient care, leading to higher competitive submissions [56] Question: Innovation contributions to revenue - Management noted that while direct contributions from innovations like Cancer Dx are modest, the overall impact on the portfolio is significant [58][62] - The potential for expanding the Cancer Dx panel is estimated at $1.1 billion over time, indicating a large market opportunity [63]

Idexx Stock Topples Despite Its 'Impressive' Report | Investor's Business DailyBREAKING: [Futures Mixed; Disney, Oracle Are Early Movers]---Idexx stock slipped early Monday despite what one analyst called an "impressive" report after the pet diagnostics company reported earnings of $3.08 per share on $1.09 billion in fourth-quarter sales. Analysts polled by FactSet expected Idexx Laboratories (IDXX) to report $2.93 earnings per share and $1.07 billion in sales. During the year-ago period, Idexx came in with ...

分组1 - Idexx Laboratories reported quarterly earnings of $3.08 per share, exceeding the Zacks Consensus Estimate of $2.93 per share, and showing an increase from $2.62 per share a year ago, resulting in an earnings surprise of +5.17% [1] - The company achieved revenues of $1.09 billion for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 1.86%, and up from $954.29 million in the previous year [2] - Idexx has consistently surpassed consensus EPS estimates over the last four quarters, achieving this four times [2] 分组2 - The stock has underperformed the market, losing about 0.9% since the beginning of the year, while the S&P 500 has gained 1.4% [3] - The current consensus EPS estimate for the upcoming quarter is $3.43 on revenues of $1.1 billion, and for the current fiscal year, it is $14.45 on revenues of $4.66 billion [7] - The Medical - Instruments industry, to which Idexx belongs, is currently ranked in the top 39% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]

IDEXX Q4 & Full Year 2025 Earnings Highlights (NASDAQ: IDXX) | Revenue | | | | Operating | | Diluted | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | Profit | | | Earnings Per Share | | | | | Q4 | $1,091M | | | $316M | | $3.08 | | | | | Reported growth: | | +14% | 29% | of Revenue | | | | | | | Organic growth: | | +12% | | | | Reported growth: | | | +18% | | | | | YoY change in basis points: | | | | | | | | CAG Diagnostics Recurring | | | Reported | | +150 | Comparable growth: | ...

Animal diagnostics maker IDEXX Laboratories on Monday forecast 2026 revenue and profit above Wall Street estimates, betting that resilient demand at veterinary clinics and higher testing per visit wil... ...

While reporting financial results for the fourth quarter on Monday, pet healthcare provider IDEXX Laboratories, Inc. (IDXX) initiated its earnings and revenue guidance for the full-year 2026, in line with analysts' estimates.For fiscal 2026, the company now projects earnings in a range of $14.29 to $14.80 per share on revenues between $4.632 billion and $4.720 billion, with revenue growth of 7.6 to 9.6 percent and organic revenue growth of 7 to 9 percent.On average, analysts polled expect the company to re ...