IDEXX Laboratories Raises FY2023 EPS Guidance from $9.64-$9.90 to $9.74-$9.90 vs $9.82 Est; Lowers FY2023 Sales Guidance from $3.66B-$3.71B to $3.64B-$3.65B vs $3.68B Est
Portfolio Pulse from Benzinga Newsdesk
IDEXX Laboratories has updated its FY2023 guidance, raising its EPS outlook from $9.64-$9.90 to $9.74-$9.90, while lowering its sales guidance from $3.66B-$3.71B to $3.64B-$3.65B. The company's full year revenue growth outlook range is now 7.9% - 8.4% as reported and 8.3% - 8.8% organically. The overall reported revenue range was decreased by $20 million due to updated foreign exchange impact estimates. The company's operating margin outlook has been raised to 29.6% - 29.8%.
November 01, 2023 | 10:38 am
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IDEXX Laboratories has raised its FY2023 EPS guidance and lowered its sales guidance. The company's full year revenue growth outlook range is now 7.9% - 8.4% as reported and 8.3% - 8.8% organically.
The company's raised EPS guidance could be seen as a positive sign by investors, potentially leading to an increase in the stock price. However, the lowered sales guidance and decreased revenue range due to updated foreign exchange impact estimates could have a negative impact on the stock price. Therefore, the overall short term impact on the stock price is neutral.
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