IDEXX Laboratories beats the street on earnings in third quarter
Select language to see a machine translation of this article. The original language of the Article is English and the translation is provided for your convenience.

IDEXX Laboratories beats the street on earnings in third quarter

IDEXX Laboratories is a developer, manufacturer and distributor of products and services aimed at the veterinary market (for pets, livestock, and more). This week, it released third quarter earnings that beat Wall Street estimates. The company was expected to earn 75¢ per share, but reported a figure of 79¢. This not only beat analysts’ expectations, but came in 27% above the year-ago quarter. This was offset – though only partially – by a 0.43% miss on revenue: analysts expected $494 million, the company reported $491.9 million. However, this is still a 9.7% rise, year on year.

IDEXX Laboratories’ share price is up by 31% so far this year

idexx0311

SOURCE: Yahoo Finance

Jonathan David Block, managing director at Stifel, Nicolaus, & Co. (which owns a stake in IDEXX Laboratories) was present on the earning call. Putting the results in context, he said:

“I'm very, very pleased with our continued progress in expanding our business in the third quarter, reflected in strong CAG recurring growth and expansion of our premium instrument platforms, while delivering strong margin gains, keeping us on track towards our long-term goal of 15% to 20% comparable constant currency EPS growth.”

The company now expects revenue growth between 10% and 10.5% for the full year, and adjusted earnings in the range of $3.22 to $3.26 per share.

Disclosure

Dominion holds IDEXX Laboratories in its Global Trends Luxury Fund.


If you would you like to receive the Newsfeeds daily, please click here to sign up now!

Help us make this Newsfeed better by rating this article. 1 star = Poor and 5 stars = Excellent
0.0/5 rating (0 votes)

Disclaimer
The views expressed in this article are those of the author at the date of publication and not necessarily those of Dominion Fund Management Limited. The content of this article is not intended as investment advice and will not be updated after publication. Images, video, quotations from literature and any such material which may be subject to copyright is reproduced in whole or in part in this article on the basis of Fair use as applied to news reporting and journalistic comment on events.