IDEXX Laboratories, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 01, 2023 at 06:30 am EDT
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IDEXX Laboratories, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 915.53 million compared to USD 841.66 million a year ago. Net income was USD 212.23 million compared to USD 180.94 million a year ago. Basic earnings per share from continuing operations was USD 2.55 compared to USD 2.17 a year ago. Diluted earnings per share from continuing operations was USD 2.53 compared to USD 2.15 a year ago.
For the nine months, sales was USD 2,759.35 million compared to USD 2,538.76 million a year ago. Net income was USD 650.52 million compared to USD 506.88 million a year ago. Basic earnings per share from continuing operations was USD 7.83 compared to USD 6.04 a year ago. Diluted earnings per share from continuing operations was USD 7.75 compared to USD 5.97 a year ago.
IDEXX Laboratories, Inc. is a world leader in the design, development and marketing of diagnostic test instruments for animal health monitoring and analysis of dairy products and water. Net sales break down by area of application as follows:
- veterinary diagnoses for pets (91.6%);
- water quality analysis (4.6%);
- veterinary diagnoses for livestock and poultry (3.3%): solutions that help detect infectious diseases in ruminants, pigs, poultry and horses. The group also offers test solutions for dairy products;
- other (0.5%).
Net sales by source of income break down between product sales (57.1%) and services (42.9%).
Net sales are distributed geographically as follows: the United States (65.3%), Canada (4.1%), Americas (2.3%), Germany (4.1%), the United Kingdom (3.3%), France (2.7%), Italy (1.5%), Spain (1.4%), Switzerland (0.9%), the Netherlands (0.8%), Europe/Middle East/Africa (4.8%), Australia (2.6%), Japan (2.1%), China (1.2%) and Asia/Pacific (2.9%).
IDEXX LABORATORIES, INC. 
