IDEXX Laboratories Reports Strong Second-Quarter Earnings
Adjusted EPS Up 15% Year-Over-Year
Company Attributes Growth to Strong Demand for Diagnostic Services
WEB Tuesday, Idexx Laboratories Inc. (IDXX) reported second-quarter adjusted earnings per share of $3.02, up 15% year-over-year. The company attributed the growth to strong demand for its diagnostic services, particularly from veterinarians treating companion animals.
IDEXX's total revenue for the quarter was $996.2 million, an increase of 12% compared to the same period last year. The company's diagnostic segment, which accounts for the majority of its revenue, grew 13% to $888.6 million.
The company's strong performance in the second quarter follows a solid first quarter, in which IDEXX reported adjusted EPS of $2.78, up 18% year-over-year. The company's stock price has risen steadily over the past year, reaching an all-time high of $450.00 in June 2023
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