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Compared to Estimates, Idexx (IDXX) Q1 Earnings: A Look at Key Metrics

Idexx Laboratories (IDXX) reported $900.2 million in revenue for the quarter ended March 2023, representing a year-over-year increase of 7.6%. EPS of $2.55 for the same period compares to $2.27 a year ago.

The reported revenue represents a surprise of +1.45% over the Zacks Consensus Estimate of $887.36 million. With the consensus EPS estimate being $2.38, the EPS surprise was +7.14%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how Idexx performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Gross Profit - Water: 70.1% compared to the 70.98% average estimate based on four analysts.

  • Gross Profit - Other: 39.2% versus 13.82% estimated by four analysts on average.

  • Gross Profit - LPD: 51.5% compared to the 62.28% average estimate based on four analysts.

  • Gross Profit- CAG: 60.3% versus the three-analyst average estimate of 59.83%.

  • Revenue- Companion Animal Group (CAG): $827.28 million versus the five-analyst average estimate of $810.06 million. The reported number represents a year-over-year change of +8.7%.

  • Revenue- Other: $4.83 million versus the five-analyst average estimate of $7.34 million. The reported number represents a year-over-year change of -40.6%.

  • Revenue- Livestock and poultry diagnostics (LPD): $29.21 million versus the five-analyst average estimate of $31.10 million.

  • Revenue- Water: $38.88 million versus $38.75 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +6.9% change.

  • Revenue- IDEXX VetLab consumables: $291.11 million compared to the $284.88 million average estimate based on three analysts.

  • Revenue- CAG Diagnostics capital- instruments: $33.14 million versus the three-analyst average estimate of $36.94 million.

  • Revenue- CAG-Reference laboratory diagnostic and consulting services: $323.18 million versus the three-analyst average estimate of $314.15 million.

  • Revenue- CAG-Rapid assay products: $82.03 million compared to the $78.58 million average estimate based on three analysts.

View all Key Company Metrics for Idexx here>>>

Shares of Idexx have returned +0.1% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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