Oct 31 (Reuters) - IDEXX Laboratories ( IDXX ) trimmed

its annual revenue forecast for the third time on Thursday, as

the animal health diagnostic equipment maker sees fewer visits

to veterinary clinics from pet owners.

WHY IT'S IMPORTANT

IDEXX Labs' ( IDXX ) earnings come at a time when the animal health

sector experiencing a slowdown in pet clinic visits due to

inflationary pressures, alongside persistent staffing challenges

at veterinary clinics.

KEY QUOTE

"We continue to see veterinary visit trend recovery as a matter

of when versus if and expect visits to return to the historical

2-3% growth over the next few years", said J.P. Morgan analyst

Chris Schott in a note.

CONTEXT

Veterinary clinics continue to struggle after having faced

disruptions in the recent past, mainly caused by staffing

shortages over the past couple of years, as well as inflationary

pressures making pet owners cautious of spending.

This is the third time the company has trimmed its full-year

forecast in the year, hurt by slower-than-expected growth in

veterinary clinic visits.

BY THE NUMBERS

The Westbrook, Maine-based company now expects full-year

revenue between $3.87 billion and $3.89 billion, down $38

million at the midpoint from its previous forecast.

IDEXX ( IDXX ) also narrowed its annual profit outlook to

$10.37-$10.53 per share from the previously expected range of

$10.31 and $10.59 per share.

Analysts on average expected annual revenue of $3.92 billion

and earnings per share of $10.56, according to data compiled by

LSEG.

Sales for its companion animal group unit, its biggest unit

which offers diagnostics for pets and IT services to veterinary

clinics, rose about 6% to $892 million in the quarter ended

September 30.

The company reported total quarterly revenues of $976

million, up 7% year-over-year but below LSEG estimates of $979.2

million.

Earnings per share for the quarter reached $2.80,

compared to $2.53 a year ago.