IDEXX Labs Backs 2019 Revenue Outlook

(RTTNews) - IDEXX Laboratories Inc. (IDXX) reaffirmed its 2019 revenue outlook of $2.385 billion - $2.425 billion, supported by reported revenue growth of 8% - 9.5% and organic revenue growth of 9.5% - 11%.

At the foreign exchange rate assumptions in 2019, it continues to estimate that the effect of the stronger U.S. dollar will reduce full year 2019 reported revenue growth by approximately 1.5%, earnings per share growth by approximately 1%, and earnings per share by an estimated $0.03 per share, including the net impact of projected hedge gains of approximately $10 million in 2019.

The company increased 2019 earnings per share outlook to $4.66 - $4.78 per share, an increase of $0.04 at the midpoint of the earlier guidance range, or targeted growth of 9% - 12% on a reported basis and 15% - 18% on a comparable constant currency basis.

Analysts polled by Thomson Reuters expect the company to report earnings of $4.69 per share and revenues of $2.41 billion for 2019. Analysts' estimates typically exclude special items.