IDEXX Laboratories, Inc. (IDXX) Earnings
IDEXX Laboratories, Inc. is expected to report next earnings on August 3, 2026 (in NaN days), with a consensus EPS estimate of $3.94. IDXX has beaten EPS estimates in 10 of its last 12 reported quarters (average surprise +5.1% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $3.41 | $3.47 | +1.8% | $1.1B | +2.0% |
| Feb 2, 2026 | $2.93 | $3.08 | +5.1% | $1.1B | +1.7% |
| May 1, 2025 | $2.85 | $2.96 | +3.9% | $998M | +0.1% |
| Feb 3, 2025 | $2.39 | $2.62 | +9.6% | $954M | +2.0% |
| Oct 31, 2024 | $2.68 | $2.80 | +4.5% | $976M | -0.5% |
| May 1, 2024 | $2.67 | $2.81 | +5.2% | $964M | -0.0% |
| Nov 1, 2023 | $2.37 | $2.53 | +6.8% | $916M | -1.2% |
| May 2, 2023 | $2.42 | $2.55 | +5.4% | $900M | +0.9% |
| Feb 6, 2023 | $1.94 | $2.05 | +5.7% | $829M | +0.9% |
| Nov 1, 2022 | $2.04 | $2.15 | +5.4% | $842M | +1.4% |
| Aug 2, 2022 | $1.56 | $1.56 | +0.0% | $861M | -0.3% |
| May 4, 2022 | $2.26 | $2.27 | +0.4% | $837M | -0.1% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 5, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Jay Mazelski noted IDEX delivered exceptional start to 2026 with disciplined commercial execution, innovation benefits, and expanded diagnostics utilization. Mike Erickson emphasized focus on diagnostics, software, commercial reach, and AI. IDEXX saw strong performance in companion animal business, with innovations like InView DX analyzers, CancerDx, and FNA rollout. Customer retention high, international expansions contributing, and software and diagnostic imaging businesses performing well.
Guidance
Increased full-year revenue range to $4,675,000,000 to $4,760,000,000, overall reported revenue growth 8.6%-10.6%, organic growth 7.7%-9.7%, CAG diagnostics recurring revenue organic growth 8.7%-10.7%. Updated EPS outlook $14.45-$14.90 per share. Second quarter reported revenue growth 7.3%-9.3%, organic growth 6.7%-8.7%, CAG diagnostics recurring revenue growth 8.5%-10.5%. Second quarter operating margins expected 33.9%-34.3%.
Segment performance
First quarter organic revenue growth of 11% was driven by 12% CAG revenue gains and 7% growth in both water and LPD businesses. CAG Diagnostics recurring revenue grew 11% organically, with ~11% in US and ~12% in international regions. CAG diagnostic recurring revenue growth was negatively impacted by ~1% decline in US same-store clinical visits, but non-well visits had slightly positive growth. CAG premium instrument placements were 4,650 units, 12% YOY growth. VetLab consumable revenues up 15% organically. Global Reference Lab revenues up 10% organically. Rapid assay revenues flat organically. Veterinary software and diagnostic imaging organic revenues up 11%. Water revenues up 7% organically. Livestock, poultry, and dairy revenues up 7% organically. Gross profit up 16% reported, 13% comparable. Gross margins 63.4%, up ~90 basis points comparable.
Analyst Q&A
Q: Comment on InView placement pacing and funnel confidence for full year.
A: Came off strong 2025 and Q4, high confidence in 5,500 placements, choppiness due to customer mix but strong receptivity.
Q: Dive into modestly improved industry outlook.
A: US clinical visits -1% in Q1, better than initial guide, aging pet population providing positive momentum, trailing 12-month average ~-1.5% decline.
Q: XUS Dynamics growth drivers.
A: International markets benefiting from long-term investments, commercial expansions, localized solutions, sustainable double-digit growth.
Q: InView consumables impact and F&A rollout.
A: InView consumables contributing to strong growth, F&A rollout on track, controlled launch with positive feedback.
Q: CAG DX recurring guidance drivers.
A: Confidence from global execution, new innovations, expanded utilization, commercial team support.
Q: Visit guide macro and fuel impact.
A: Fuel impact hard to predict, wellness and discretionary visits driving declines, but non-well visits showing positive momentum.
Q: End market inflection towards non-wellness visits.
A: Related to aging pet population, pandemic adoption boom leading to more medicalized breeds.
Q: Supply chain impact on international growth.
A: Water business in Middle East impacted by supply chain disruption, factored into outlook.
Q: CAC Diagnostics revenue outlook contributors.
A: Volume-driven growth, expanded volumes, execution against innovations, diagnostic frequency expansion.