IDEXX Laboratories Full Year 2024 Earnings: EPS Beats Expectations
IDEXX Laboratories reported a revenue of $3.90 billion for the full year 2024, reflecting a 6.5% increase from the previous year, with net income also rising to $887.9 million. The company's earnings per share (EPS) reached $10.77, surpassing analyst expectations, while the Companion Animal Group (CAG) continued to be the primary revenue driver, contributing 92% of total revenue. Looking ahead, IDEXX forecasts average revenue growth of 7.0% annually over the next three years, slightly below the projected 7.9% growth for the broader Medical Equipment industry in the U.S.
- The strong performance in the Companion Animal Group highlights the resilience of pet care in the current economic climate, suggesting a potential shift in consumer spending priorities.
- What strategic adjustments might IDEXX consider to maintain its competitive edge in an increasingly volatile market?