IDEXX Q2 Earnings Miss Estimates, 2024 View Down Inc., Water, Other, Inc. ABT, Livestock, Total Debt, Gross Profit, Operating Profit, Operating Margin, Poultry and Dairy, IDEXX Laboratories, Abbott Laboratories, Quest Diagnostics DGX, Companion Animal Group, Intuitive Surgical ISRG, Zacks Consensus Estimate, Cash and Cash Equivalents, Sales and.. ... by https://www.benzinga.com/
AI Insights:
Simple Explanation:
idexx is a company that makes things to help with animals and other stuff. like a test kit to see if a doggie is feeling okay. this past quarter, they made some money, but not as much as people thought they would. so, they didn't make as much money as last year, but they're still doing good. just not as great as people hoped for. the people who own the company are a little sad, but they're still working hard to make better things to help dogs, cats, and even cows! Read from source...
Sentiment Analysis:
negative
### Sentiment Analysis:
According to the article, IDEXX Laboratories missed the Zacks Consensus Estimate for their second-quarter 2024 earnings per share. This is a negative sentiment as it shows that IDEXX Laboratories did not perform as well as anticipated in their recent financial report.
Investment Analysis:
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### KIM:
IDEXX Laboratories reported better-than-expected second-quarter revenues but missed on earnings per share. The company's revenues rose 6.4% YoY to $1.00 billion, with Companion Animal Group revenues improving significantly. However, the EPS of $2.44 missed the Zacks Consensus Estimate by 14.9%, reflecting the escalating expenses leading to a severe contraction of the operating margin. Overall, despite missing on EPS, IDEXX's performance reflected high recurring revenue growth, continued momentum in cloud-based software placements, and sustained benefits of IDEXX execution drivers.
### BRETT:
IDEXX Laboratories Inc posted a second-quarter EPS of $2.44, missing the Zacks Consensus Estimate by 14.9%. Revenues increased 6.4% YoY to $1.00 billion, in line with the Zacks Consensus Estimate. The upside was driven primarily by a strong improvement in Companion Animal Group revenues, with IDEXX VetLab consumables, Reference laboratory diagnostic and consulting services and Rapid assay products all showing solid global growth. However, escalating expenses, especially R&D and G&A expenses, led to a decline in the operating profit and a contraction of the operating margin. The company updated its full-year outlook, with reported EPS expected to be in the range of $10.31-$10.59, indicating reported growth of 2-5%, down from the previous guidance of $10.82-$11.20.