Animal Health Firm Idexx's Robust Business Model Bolsters Position Despite Slower Growth, Says Analyst
Portfolio Pulse from Vandana Singh
Idexx Laboratories Inc (NASDAQ:IDXX) reported strong Q2 results with adjusted EPS of $3.02, beating the consensus of $2.88. Sales reached $1 billion, driven by growth in Companion Animal Group and Water revenue. Despite a decline in vet office visits, the company maintains a robust business model and updated its 2024 revenue and EPS guidance. The stock rose 4.65% following the announcement.
August 06, 2024 | 4:48 pm
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Idexx Laboratories reported strong Q2 results with adjusted EPS of $3.02, beating expectations. Sales reached $1 billion, driven by growth in Companion Animal Group and Water revenue. Despite slower growth due to a decline in vet office visits, the company updated its 2024 revenue and EPS guidance. The stock rose 4.65% following the announcement.
Idexx Laboratories' strong Q2 performance, beating EPS estimates and reporting solid sales growth, positively impacted its stock price. The company's updated guidance, despite slower growth, indicates resilience and a robust business model, leading to a 4.65% increase in stock price.
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