IDEXX Laboratories Stock Rises 11% Following Strong Q4 Earnings And Revenue Growth

(RTTNews) - IDEXX Laboratories, Inc. (IDXX) is up by 11.55 percent during Friday morning trading, following the release of its fourth-quarter 2024 financial results, which exceeded expectations.

IDEXX is currently trading at $470.78, up $48.73 on the Nasdaq. The stock has experienced notable fluctuations today, with a high of $474.51 and a low of $473.46. The total volume for the day is 10,599 shares, with a previous close of $422.05.

For the full year 2024, IDEXX's revenue reached $3.898 billion, showing a 6 percent increase. Earnings per share for the fourth quarter were $2.62, up 13 percent year-over-year, reflecting operating margin expansion.

The company reported revenues of $954 million, a 6 percent increase compared to the previous year, driven by strong growth in the Companion Animal Group, with a 6 percent increase in diagnostics recurring revenue.

This performance has generated positive investor sentiment, driving the stock price higher.