IDEXX Updates Guidance For 2018 - Quick Facts

(RTTNews) - IDEXX Laboratories, Inc. (IDXX) increased its 2018 EPS outlook to $4.10 - $4.20 per share, reflecting an incremental $0.02 per share at the midpoint of the earlier guidance range. The company adjusted 2018 revenue outlook to $2.205 billion - $2.230 billion, a reduction of $7.5 million at the midpoint compared to prior guidance, incorporating a negative impact of $20 million - $25 million related to updated foreign exchange assumptions. The company expects this impact to be partially offset by operational upside reflected in a raised organic revenue growth outlook of 11.5% - 12.5%.

For the second-quarter, EPS was $1.23, a 29% increase year-over-year on a reported basis or 33% on a comparable constant currency basis. Revenues for the second quarter of 2018 were $581 million, an increase of 14% compared to the prior year period on a reported basis and 12% on an organic basis. The company said its results were driven by robust global gains in Companion Animal Group Diagnostics recurring revenue, including strong, double-digit organic revenue growth in IDEXX VetLab consumables and reference laboratory diagnostic and consulting services.