We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
IDEXX Laboratories (IDXX) Beats on Q1 Revenues, View Upbeat
Read MoreHide Full Article
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 first-quarter 2018 earnings report which has 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 93 cents per share. IDEXX’s first-quarter reported earnings per share came in at $1.01, an increase of 31% year-over-year on a reported basis.
Revenues: IDEXX posted revenues of almost $537.7 million, an increase of 16.4% year over year, which has beat the Zacks Consensus Estimate for revenues of $526.2 million.
Key Stats: Among its four business segments, IDEXX delivered first-quarter revenues of $470.8 million (up 16.8%) in CAG, $29.1 million (up 16.2%) in Water, $ 32.2 million (up 10%) Livestock, Poultry and Dairy (LPD) and $5.4 million (up 23.6%) in the other segment.
Major Factors: Per management, growth in business first quarter is majorly driven by strength in the CAG revenue segment. Furthermore, the premium instrument placements including a 21% 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 2018 revenue organic growth growth guidance to 10.5% - 12.5% from the previous range of 9.5% - 11.5%. However, the company maintains to expect revenue growth of 12% - 14% on a reported basis. IDEXX also raised the full year adjusted earnings to the range of $4.06 - $4.20 per share from the previous range of $4.04 - $4.18.
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!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
Image: Bigstock
IDEXX Laboratories (IDXX) Beats on Q1 Revenues, View Upbeat
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 first-quarter 2018 earnings report which has 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 93 cents per share. IDEXX’s first-quarter reported earnings per share came in at $1.01, an increase of 31% year-over-year on a reported basis.
Revenues: IDEXX posted revenues of almost $537.7 million, an increase of 16.4% year over year, which has beat the Zacks Consensus Estimate for revenues of $526.2 million.
Key Stats: Among its four business segments, IDEXX delivered first-quarter revenues of $470.8 million (up 16.8%) in CAG, $29.1 million (up 16.2%) in Water, $ 32.2 million (up 10%) Livestock, Poultry and Dairy (LPD) and $5.4 million (up 23.6%) in the other segment.
Major Factors: Per management, growth in business first quarter is majorly driven by strength in the CAG revenue segment. Furthermore, the premium instrument placements including a 21% year over year increase in Catalyst placements in the reported quarter has yielded solid returns as well.
IDEXX Laboratories, Inc. Price and EPS Surprise
IDEXX Laboratories, Inc. Price and EPS Surprise | IDEXX Laboratories, Inc. Quote
Coming to the guidance, the company has updated the 2018 revenue organic growth growth guidance to 10.5% - 12.5% from the previous range of 9.5% - 11.5%. However, the company maintains to expect revenue growth of 12% - 14% on a reported basis. IDEXX also raised the full year adjusted earnings to the range of $4.06 - $4.20 per share from the previous range of $4.04 - $4.18.
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!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>