IDEXX Laboratories Slashes FY22 Outlook - Update

(RTTNews) - While reporting financial results for the second quarter on Tuesday, pet healthcare provider IDEXX Laboratories, Inc. (IDXX) slashed its earnings and revenue growth guidance for the full-year 2022.

For fiscal 2022, the company now projects earnings in a range of $7.77 to $8.05 per share on revenues between $3.305 billion and $3.385 billion, with revenue growth of 3 to 5.5 percent and organic revenue growth of 5.5 to 8 percent.

Previously, the company expected earnings in a range of $8.11 to $8.35 per share on revenue growth of 5.5 to 8 percent and organic revenue growth of 7.5 to 10 percent.

On average, 11 analysts polled by Thomson Reuters expect the company to report earnings of $8.27 per share on revenues of $3.42 billion for the year. Analysts' estimates typically exclude special items.

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