IDEXX Laboratories, Inc. reported robust fourth-quarter and full-year 2024 financial results, with Q4 revenues reaching $954 million, an increase of 6% on both a reported and organic basis. This performance was driven by a 6% reported and organic growth in the Companion Animal Group (CAG) segment. CAG Diagnostics recurring revenue saw a 7% organic increase, supported by strong instrument placements and customer retention.
Fourth-quarter earnings per diluted share (EPS) were $2.62, marking a 13% increase as reported and 10% on a comparable basis, surpassing Wall Street estimates. For the full year 2024, total revenue was $3,898 million, up 6% reported and organically, with full-year EPS of $10.67, an increase of 12% on a comparable basis. The company's operating margin expanded by 50 basis points on a comparable basis in Q4.
Looking ahead, IDEXX provided an initial 2025 revenue guidance range of $4,055 million - $4,170 million, projecting organic growth of 6% - 9%. The initial 2025 EPS guidance is set at $11.74 - $12.24, reflecting comparable growth of 8% - 12%. The company also announced it began shipping the IDEXX inVue Dx Cellular Analyzer in Q4 2024 and plans to launch the IDEXX Cancer Dx screening for canine lymphoma in late March 2025, alongside a commitment to allocate approximately $1.5 billion towards share repurchases in 2025.
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