IDEXX reported a strong third quarter with revenue and earnings exceeding analyst estimates, driven by double-digit organic growth in its core veterinary diagnostics business. The company raised its full-year 2026 revenue and EPS guidance, citing robust same-store volume expansion and high adoption of the inVue Dx analyzer.
Key Highlights
- CAG Diagnostics recurring revenue grew 11% organically, significantly outperforming sector levels and led by a 15% surge in IDEXX VetLab consumables.
- Operating margin expanded 100 basis points to 33.1%, supported by gross margin gains from operational productivity and net price realization.
- The premium instrument installed base grew as the company placed over 1,900 inVue Dx analyzers during the quarter, bringing the total to nearly 11,000 units.
- Full-year 2026 revenue guidance was raised to $4.74 billion – $4.77 billion, reflecting a $32 million increase at the midpoint.