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Compared to Estimates, Idexx (IDXX) Q1 Earnings: A Look at Key Metrics

Zacks Equity Research
·3-min read

For the quarter ended March 2024, Idexx Laboratories (IDXX) reported revenue of $964.1 million, up 7.1% over the same period last year. EPS came in at $2.81, compared to $2.55 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $965.43 million, representing a surprise of -0.14%. The company delivered an EPS surprise of +4.85%, with the consensus EPS estimate being $2.68.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how Idexx performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenue- Companion Animal Group- United States: $602.20 million versus $605.30 million estimated by two analysts on average.

  • Revenue- Companion Animal Group- International: $287.09 million compared to the $284.56 million average estimate based on two analysts.

  • Revenue- LPD- International: $23.04 million compared to the $24.25 million average estimate based on two analysts.

  • Revenue- Water- International: $20.87 million versus the two-analyst average estimate of $20.64 million.

  • Revenue- Companion Animal Group (CAG): $889.29 million versus the four-analyst average estimate of $890.21 million. The reported number represents a year-over-year change of +7.5%.

  • Revenue- Other: $3.53 million versus the four-analyst average estimate of $4.83 million. The reported number represents a year-over-year change of -26.8%.

  • Revenue- Livestock and poultry diagnostics (LPD): $28.21 million versus $29.68 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -3.4% change.

  • Revenue- Water: $43.07 million compared to the $41.96 million average estimate based on four analysts. The reported number represents a change of +10.8% year over year.

  • Revenue- IDEXX VetLab consumables: $316.93 million versus the three-analyst average estimate of $318.85 million. The reported number represents a year-over-year change of +8.9%.

  • Revenue- CAG Diagnostics capital- instruments: $34.09 million compared to the $33.72 million average estimate based on three analysts. The reported number represents a change of +2.9% year over year.

  • Revenue- CAG-Reference laboratory diagnostic and consulting services: $344.34 million versus the three-analyst average estimate of $342.84 million. The reported number represents a year-over-year change of +6.6%.

  • Revenue- CAG-Rapid assay products: $86.32 million compared to the $87.84 million average estimate based on three analysts. The reported number represents a change of +5.2% year over year.

View all Key Company Metrics for Idexx here>>>

Shares of Idexx have returned -5.5% over the past month versus the Zacks S&P 500 composite's -4.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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