Idexx Laboratories Inc (IDXX)

Idexx Laboratories, Inc. Stock (IDXX) dropped by 1.03% from $399.47 to $395.35 in the trading on Wednesday November 01, 2023. The reasons why IDXX stock down today include:

• Q3 financial results: Idexx posted Q3 earnings per share of $2.53, which beat estimates by 16 cents. Revenue increased nearly 9% Y/Y to $916 million, but misses expectations by $11.31 million. It is due to a relative slow down in wellness visits in the quarter, which may reflect some macro impacts on demand at the clinic level.
• Full year revenue guidance: Idexx revised its full year revenue guidance to $3.635 - $3.65 billion from a previous forecast of $3.66 - $3.715 billion. The consensus revenue estimate is $3.68 billion. The organic growth guidance assumes a level of continued pressure on U.S. same-store clinical visits and International same-store sales levels in Q4 reflecting ongoing clinic capacity management dynamics and macro-economic impacts on demand.