IDEXX Laboratories Inc (NASDAQ:IDXX) reported Q4 revenues of $801 million, an increase of 11% Y/Y on a reported basis and 10.5% on an organic basis, beating the consensus of $784.43 million.
- Fourth-quarter results reflect 13% reported and organic revenue gains in CAG Diagnostics recurring revenues.
- CAG Diagnostics capital instrument reported revenue growth of 18% (21% organic).
- Expanded cloud-based software capability, drove veterinary software, services, and diagnostic imaging systems revenue growth of 30% as reported and 13% organically.
- Q4 EPS was $1.89, a decrease of 6% Y/Y, and Comparable EPS was $1.83, up 12% Y/Y, beating the consensus of $1.71.
- The gross profit margin expanded slightly from 56.8% to 57%. The operating margin decreased from 25.7% to 24.9%.
- Guidance: IDEXX Laboratories expects FY22 revenue of $3.50 billion - $3.565 billion (consensus $3.54 billion), reflecting growth of 9% - 11% on a reported basis and 10% - 12% organically.
- The company forecasts 10.5% - 12% reported growth and 12% - 14% organic growth in CAG Diagnostics recurring revenues.
- The company also expects EPS of $9.27 - $9.59, compared to the consensus of $9.39.
- Price Action: IDXX shares are up 4.68% at $537.53 during the market session on the last check Wednesday.
