IDEXX Labs Sees Higher FY22 Results - Quick Facts

(RTTNews) - Veterinary diagnostics provider IDEXX Laboratories, Inc. (IDXX), while announcing lower profit and higher revenues in its fourth quarter Wednesday, said it expects higher results in fiscal 2022.

The company expects earnings per share of $9.27 to $9.59, reflecting a targeted 50 - 100 basis points of comparable operating margin improvement.

The company expects full year 2022 revenue growth of 9 percent - 11 percent on a reported basis and 10 percent - 12 percent revenue growth on an organic basis.

In fiscal 2021, the company's earnings per share were $8.60 on revenues of $3.22 billion.

On average, analysts polled by Thomson Reuters expect earnings of $9.39 per share for the year on revenues of $3.54 billion. Analysts' estimates typically exclude special items.

The revenue view is supported by 10.5 percent - 12 percent reported growth, and 12 percent - 14 percent organic growth in CAG Diagnostics recurring revenues.

Jay Mazelsky, IDEXX's CEO, said, "IDEXX had a strong finish to an exceptional 2021, as busy veterinary customers responded positively to our highly differentiated diagnostic testing and information management platforms. ... As a Purpose-driven company focused on improving the health and well-being of pets, people and livestock, our outstanding results reflect the high levels of execution across the IDEXX organization through the challenges of the COVID-19 pandemic."