By Will Feuer
Idexx Laboratories posted higher fourth-quarter revenue, lifted by demand for veterinarian equipment.
The Westbrook, Maine-based veterinary-technology company reported a profit of $194.5 million, or $2.32 a share, up from $172.2 million, or $2.05 a share, in the same period a year earlier. Analysts surveyed by FactSet expected $2.12 a share.
Revenue rose almost 9% to $901.6 million. Analysts expected $891.9 million.
Revenue at Idexx’s companion-animal unit rose about 10% from a year earlier while water revenue rose 6%. Livestock Poultry and Dairy revenue fell 2%.
The company’s 2024 guidance is roughly in line with analysts’ expectations. The company is targeting 2024 revenue of $3.93 billion to $4.04 billion, year-over-year growth of 7.5% to 10.5%. Analysts expected $3.97 billion.
Idexx expects earnings for the year to be $10.84 a share to $11.33 a share. Analysts expected $11.07 a share.
Write to Will Feuer at [email protected]
Read the full article here
