IDEXX Laboratories Q3 Earnings Rise, Revenue Beats

(RTTNews) - IDEXX Laboratories, Inc. (IDXX), engaged in pet healthcare business on Tuesday announced improved third-quarter bottomline and higher-than-expected revenue.

Net income available to stockholders was $ 180.94 million or $2.15 per share as compared to $175.24 million or $2.03 per share in the previous period.

Comparable EPS growth was $2.23 in the third quarter versus $1.98 in the previous period, supported by operating margin expansion.

10 analysts polled by Thomson Reuters were expecting the company to report earnings of $2.04 per share. Analysts typically exclude one-time items.

Revenue for the period increased to $841.66 million from $810.42 million in the corresponding period of the previous year.

9 analysts polled by Thomson Reuters were expecting the company to report revenues of $830.78 million.

The company has also adjusted the 2022 revenue guidance to the 3.5 percent- 4.5 percent growth range as reported and a narrowed 6.5 percent to 7.5 percent range on organic basis.

The updated EPS outlook of $7.74 - $7.98 reflects consistent operational outlook at midpoint, supported by strong second half comparable operating profit gains.

Shares of IDEXX Laboratories are currently trading in pre-market at $360.00, up $0.32 or 0.09 percent from the previous close.