"The growth came from both major segments. Companion Animal Group (CAG) diagnostics recurring revenue grew 11% reported and 10% organically. Laboratory and Professional Services (LPS) revenue climbed 17% reported and 14% organically. CEO Jay Mazelsky highlighted the impact of new product launches, specifically IDEXX Cancer Dx, new Catalyst specialty tests for Pancreatic Lipase and Cortisol, and inVue Dx, which he described as delivering "powerful new diagnostic capabilities" with "strong execution and global customer adoption.""
"Operating performance improved meaningfully. Gross profit expanded 14.6% year over year to $683.4 million. Operating income rose 16.8% to $354.8 million, with operating margin expanding 100 basis points. Net income climbed 17.9 percent to $274.6 million. The margin expansion matters here because it shows the company is converting revenue growth into profit growth at an accelerating rate, not just growing the top line."
IDEXX Laboratories posted Q3 adjusted EPS of $3.40 and revenue of $1.105 billion, topping estimates and raising full-year guidance. The quarter marked the eighth consecutive EPS beat. Companion Animal Group diagnostics recurring revenue rose 11% reported (10% organically); Laboratory and Professional Services revenue increased 17% reported (14% organically). New products — IDEXX Cancer Dx, new Catalyst specialty tests for pancreatic lipase and cortisol, and inVue Dx — drove adoption. Gross profit rose 14.6% to $683.4 million and operating income grew 16.8% to $354.8 million, expanding margins by 100 basis points. Operating cash flow surged 82.8% to $402.3 million and free cash flow reached $371.2 million. Stock traded near $656 premarket.
Read at 24/7 Wall St.
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