IDEXX Q3 revenue rises 10% as EPS reaches $4.01
Key points
- IDEXX Laboratories reported third-quarter revenue of $1.214 billion, up 10% year over year, while recurring CAG Diagnostics revenue increased 11%.
- Diluted EPS reached $4.01, up 18% as reported and 22% on a comparable basis, while operating margin expanded 100 basis points.
- IDEXX increased its 2026 revenue forecast to $4.741 billion–$4.767 billion and adjusted EPS guidance to $14.96–$15.16.
IDEXX Laboratories (NASDAQ:IDXX) reported third-quarter 2026 revenue of $1.214 billion, up 10% year over year, as stronger veterinary diagnostics demand supported earnings growth and higher full-year financial forecasts.
Companion Animal Group revenue increased 10%, while recurring CAG Diagnostics revenue grew 11%, supported by higher testing volumes, customer growth, product innovation and increased diagnostic utilization.
Diluted earnings per share increased 18% to $4.01, while operating margin expanded 100 basis points to 33.1% and gross margin increased to 62.9%, supported by recurring revenue growth, productivity improvements and pricing gains.
The company raised its 2026 revenue forecast to $4.741 billion–$4.767 billion and adjusted EPS guidance to $14.96–$15.16, while lowering its operating margin outlook to 32.1%–32.3%.
IDEXX placed more than 1,900 inVue Dx analyzers during the quarter, bringing its installed base close to 11,000 instruments, while its veterinary software business recorded 11% reported revenue growth and included the CoVet acquisition.
The company operates across companion animal diagnostics, veterinary software, water testing and livestock, poultry and dairy markets, with its recurring diagnostics business forming a major part of its revenue base.
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