IDEXX Laboratories Shares Rise On Upbeat Q4 Results

(RTTNews) - Shares of IDEXX Laboratories, Inc. (IDXX), that engaged in pet healthcare innovation, are rising more than 7% Monday morning after reporting upbeat fourth-quarter results, above consensus estimates.

Net income for the fourth quarter increased to $194.52 million or $2.32 per share from $172.21 million or $2.05 per share in the same quarter a year ago.

The company reported revenues of $901.6 million for the fourth quarter of 2023, an increase of 9% compared to the prior-year period.

Analysts on average, polled by Thomson-Reuters expected the company to report profit of $2.12 per share on revenue of $891.25 million for the quarter.

IDEXX, currently at $560.37, has traded in the range of $372.50 - $568.30 in the last 1 year.