Shares of IDEXX Laboratories (IDXX) surged 8.21% in pre-market trading on Thursday after the animal diagnostics company reported better-than-expected first quarter earnings and raised its full-year guidance.
IDEXX posted earnings per share of $2.96 for Q1 2025, surpassing the FactSet analyst consensus estimate of $2.85. Revenue came in at $998.4 million, slightly above analyst expectations of $997.1 million. The company's gross margin expanded to 62.4% from 61.5% in the year-ago quarter, while operating margin improved to 31.7% from 31.0%.
Investors were particularly encouraged by IDEXX's raised outlook for 2025. The company now expects full-year earnings per share of $11.93 to $12.43, up from its previous guidance of $11.74 to $12.24. IDEXX also boosted its revenue growth forecast to 5-8%, with projected revenue of $4.10 billion to $4.21 billion.
The strong results were driven by solid performance across IDEXX's business segments. Companion Animal Group diagnostics recurring revenue, a key metric for the company, grew 4.5% organically. IDEXX's water testing and livestock/poultry diagnostics segments also showed healthy growth. The company's ongoing focus on innovation and expanding its diagnostic offerings continues to drive market share gains in the veterinary sector.
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