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Animal diagnostics maker IDEXX beats quarterly estimates despite low vet visits
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Animal diagnostics maker IDEXX beats quarterly estimates despite low vet visits
Feb 3, 2025 5:15 AM

Feb 3 (Reuters) - IDEXX Laboratories ( IDXX ) beat Wall

Street estimates for fourth-quarter revenue and profit on

Monday, helped by strong demand for its veterinary diagnostic

services despite persistent weakness in visits to the vet

clinic.

The company said it benefited from high customer retention

and strength in its veterinary software, services and diagnostic

imaging systems, supported by a continued shift to cloud-based

products.

The company's total sales for the reported quarter came in

at $954.3 million, ahead of analysts' estimates of $935 million,

according to LSEG data.

On an adjusted basis, IDEXX ( IDXX ) reported a profit of $2.62 per

share for the quarter ended Dec. 31, above estimates of $2.40

per share.

The Westbrook, Maine-based company's shares, which fell

about 25% in 2024, rose 3.4% in premarket trading.

Sales for IDEXX's ( IDXX ) companion animal group unit, its biggest

unit which offers diagnostics for pets and IT services to

veterinary clinics, rose about 6% to $870.47 million.

IDEXX ( IDXX ) forecast full-year 2025 revenue between $4.06 billion

and $4.17 billion, the midpoint of which is slightly below

analysts' estimates of $4.14 billion.

The company sees annual profit between $11.74 and $12.24 per

share. Analysts, on average, estimate it at $11.92 per share.

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