IDEXX Laboratories, Inc.
IDXX · Nasdaq
Next quarter
Reports Nov 2, 2026.
Consensus is $3.70 EPS for Sep 2026 across 6 estimates, ranging $3.64 to $3.74.
IDXX Jun 2026
- 8.10%
- -0.56%
- $3.95
- $4.27
- —
- $1.22B
Reported results
- $1.22B
- 64.04%
- $425.57M
- 34.98%
- $338.41M
- $4.27
Highlights
- Total revenue was $1,216.585 million, compared with $1,109.457 million in the prior-year quarter; reportable-segment revenue was $1,211.981 million and Other revenue was $4.604 million.
- Companion Animal Group revenue was $1,118.236 million and gross profit was $715.787 million, versus $1,022.443 million and $642.102 million, respectively, in the prior-year quarter.
- Water revenue was $58.564 million and gross profit was $43.598 million, compared with $51.001 million and $35.511 million in the prior-year quarter.
- LPD revenue was $35.181 million and gross profit was $18.651 million, compared with $31.762 million and $14.929 million in the prior-year quarter; income before taxes was $417.224 million versus $362.352 million.
- The supplied material provides no revenue, earnings, segment, subscriber or unit, or capital-expenditure guidance ranges, and no comparison with a prior guide is available.
Analysis
No consensus figures are on file, so the quarter cannot be judged against an external estimate. IDEXX reported revenue of $1,216.585 million, above $1,109.457 million in the prior-year quarter and also above the $1.14 billion reported in Q1 FY2026. CAG remained the dominant engine, generating $1,118.236 million of revenue and $715.787 million of gross profit, compared with $1,022.443 million and $642.102 million a year earlier. Water contributed $58.564 million of revenue and $43.598 million of gross profit, while LPD delivered $35.181 million and $18.651 million. Both smaller segments were higher than the prior-year quarter. Total segment gross profit increased to $778.036 million from $692.542 million, while segment operating expenses rose to $352.068 million from $319.928 million. Income before taxes was $417.224 million versus $362.352 million, with non-operating expense improving to $8.342 million from $10.694 million.
Guidance
Management provided no forward-looking guidance ranges in the supplied material. There is no stated outlook for revenue, earnings, segment performance, subscribers or units, or capital expenditures, and therefore no disclosed change from a prior guide can be assessed. The filing does provide historical six-month results: revenue was $2,357.405 million in 2026 versus $2,107.884 million in 2025, and income before taxes was $772.666 million versus $672.436 million. The material also describes foreign-exchange exposure and hedging activity, but does not attach those disclosures to a future performance range.
What drove it
- CAG growth — CAG revenue was $1,118.236 million, compared with $1,022.443 million in the prior-year quarter.
- Water performance — Water revenue rose from $51.001 million to $58.564 million, while gross profit rose from $35.511 million to $43.598 million.
- LPD performance — LPD revenue was $35.181 million and gross profit was $18.651 million, versus $31.762 million and $14.929 million in the prior-year quarter.
- Gross profit — Total segment gross profit increased from $692.542 million to $778.036 million, while segment operating expenses increased from $319.928 million to $352.068 million.
- Currency hedging — Foreign currency exchange contracts hedged a notional $393.8 million of forecasted intercompany purchases and sales at June 30, 2026.
Watch items
- The company has additional unhedged foreign-currency exposure from intercompany transactions and emerging markets where hedging is not practical.
- Foreign-currency exchange contracts hedge approximately 75% to 85% of estimated exposure, leaving a stated portion exposed to exchange-rate fluctuations.
- The private-equity investment had a remaining unfunded commitment of approximately $2.4 million, cannot be redeemed until fund dissolution, and may take up to approximately 13 years from inception to liquidate.
- The company had $250.0 million of Credit Facility borrowings whose interest rate was fixed at 3.4% plus the applicable credit spread through November 2028, leaving the credit spread component applicable.
