This article is from SRN News
(Reuters) – IDEXX Laboratories beat Wall Street estimates for fourth-quarter revenue and profit on Monday, helped by strong demand for its veterinary diagnostic services despite persistent weakness in visits to the vet clinic.
The company said it benefited from high customer retention and strength in its veterinary software, services and diagnostic imaging systems, supported by a continued shift to cloud-based products.
The company’s total sales for the reported quarter came in at $954.3 million, ahead of analysts’ estimates of $935 million, according to LSEG data.
On an adjusted basis, IDEXX reported a profit of $2.62 per share for the quarter ended Dec. 31, above estimates of $2.40 per share.
The Westbrook, Maine-based company’s shares, which fell about 25% in 2024, rose 3.4% in premarket trading.
Sales for IDEXX’s companion animal group unit, its biggest unit which offers diagnostics for pets and IT services to veterinary clinics, rose about 6% to $870.47 million.
IDEXX forecast full-year 2025 revenue between $4.06 billion and $4.17 billion, the midpoint of which is slightly below analysts’ estimates of $4.14 billion.
The company sees annual profit between $11.74 and $12.24 per share. Analysts, on average, estimate it at $11.92 per share.
(Reporting by Kamal Choudhury in Bengaluru; Editing by Shailesh Kuber)
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