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IDEXX Laboratories (IDXX) Beats on Q3 Earnings, View Up
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Headquartered in Delaware NJ, IDEXX Laboratories, Inc. (IDXX - Free Report) is a developer, manufacturer and distributer of products and services primarily for the companion animal veterinary, livestock and poultry, water testing and dairy markets. The company also sells a series of portable electrolytes and blood gas analyzers for the human point-of-care medical diagnostics market.
Currently, IDEXX has a Zacks Rank #2 (Buy) but that could change following its mixed third-quarter 2017 earnings report whichhas just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here). We have highlighted some of the key details from the just-released announcement below:
Earnings: The current Zacks Consensus Estimate is pegged at 75 cents per share. IDEXX’s third-quarter earnings per share came in at 79 cents, an increase of 27% year-over-year on both a reported basis and on a constant currency basis.
Revenues: IDEXX posted revenues of almost $491.9 million, an increase of 9.7% year over year, which has missed the Zacks Consensus Estimate for revenues of $494 million by 0.43%.
Key Stats: Among its four business segments, IDEXX delivered third-quarter revenues of $426.7 million (up 10.7%) in CAG, $31 million (up 11.1%) in Water, $ 28.4 million (down 4.7%) Livestock, Poultry and Dairy (LPD) and $5.86 million (up 9.3%) in the other segment.
Major Factors: Per management, growth in business third quarter is majorly driven by strength in the CAG revenue segment. Furthermore, the premium instrument placements including a 14% year over year increase in Catalyst placements in the reported quarter has yielded solid returns as well.
Coming to the guidance, the company has updated the 2017 revenue growth guidance to 10% - 10.5% on a reported basis and 9.5% - 10% on an organic basis. The company expects full year adjusted earnings in the range of $3.22 - $3.26.
Stock Price: Following the earnings release, share prices did not show any movement in the pre-market trading session.
Check back later for our full write up on this IDEXX earnings report later!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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IDEXX Laboratories (IDXX) Beats on Q3 Earnings, View Up
Headquartered in Delaware NJ, IDEXX Laboratories, Inc. (IDXX - Free Report) is a developer, manufacturer and distributer of products and services primarily for the companion animal veterinary, livestock and poultry, water testing and dairy markets. The company also sells a series of portable electrolytes and blood gas analyzers for the human point-of-care medical diagnostics market.
Currently, IDEXX has a Zacks Rank #2 (Buy) but that could change following its mixed third-quarter 2017 earnings report whichhas just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here). We have highlighted some of the key details from the just-released announcement below:
Earnings: The current Zacks Consensus Estimate is pegged at 75 cents per share. IDEXX’s third-quarter earnings per share came in at 79 cents, an increase of 27% year-over-year on both a reported basis and on a constant currency basis.
Revenues: IDEXX posted revenues of almost $491.9 million, an increase of 9.7% year over year, which has missed the Zacks Consensus Estimate for revenues of $494 million by 0.43%.
IDEXX Laboratories, Inc. Price and EPS Surprise
IDEXX Laboratories, Inc. Price and EPS Surprise | IDEXX Laboratories, Inc. Quote
Key Stats: Among its four business segments, IDEXX delivered third-quarter revenues of $426.7 million (up 10.7%) in CAG, $31 million (up 11.1%) in Water, $ 28.4 million (down 4.7%) Livestock, Poultry and Dairy (LPD) and $5.86 million (up 9.3%) in the other segment.
Major Factors: Per management, growth in business third quarter is majorly driven by strength in the CAG revenue segment. Furthermore, the premium instrument placements including a 14% year over year increase in Catalyst placements in the reported quarter has yielded solid returns as well.
Coming to the guidance, the company has updated the 2017 revenue growth guidance to 10% - 10.5% on a reported basis and 9.5% - 10% on an organic basis. The company expects full year adjusted earnings in the range of $3.22 - $3.26.
Stock Price: Following the earnings release, share prices did not show any movement in the pre-market trading session.
Check back later for our full write up on this IDEXX earnings report later!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>