Sales and marketing expenses rose 10.8% to $128.5 million, while general and administrative expenses were down 19.7% to $83.5 million. price-consensus-eps-surprise-chart | IDEXX Laboratories, Inc. Gross margin expanded 17 basis points (bps) to 56.9% despite a 10.7% rise in the cost of revenues to $344.7 million. Gross profit in the fourth quarter rose 11.5% to $456.4 million. Revenues at the Other segment fell 30.7% on a reported basis to $10.9 million. However, LPD revenues dropped 20% (down 18.9% organically) to $33.9 million. The Water segment’s revenues also grew 12.2% (up 12.7% organically) year over year to $37.1 million. In the fourth quarter, CAG revenues rose 14.2% (up 13.4% organically) year over year to $719.1 million. IDEXX derives revenues from four operating segments - CAG, Water, Livestock, Poultry and Dairy (LPD), and Other. Revenues also surpassed the Zacks Consensus Estimate by 0.9%.

Overall revenue growth was also supported by 12% reported and 13% organic revenue growth in the Water business.įull-year revenues were $3.22 billion, reflecting an 18.8% increase from the year-ago period (up 16% on an organic basis). The year-over-year upside was primarily driven by 18% reported and 17% organic growth in global Companion Animal Group (CAG) Diagnostics’ recurring revenues and 18% reported and 21% organic growth in CAG Diagnostics capital instrument revenues.

The metric surpassed the Zacks Consensus Estimate by 2.7%. Revenues in Detailįourth-quarter revenues grew 11.1% year over year to $801.1 million. The metric surpassed the Zacks Consensus Estimate by 2.6%. However, the figure surpassed the Zacks Consensus Estimate by 13.2%.Ĭomparable constant-currency EPS of $1.83 in the fourth quarter of 2021 reflects year-over-year growth of 12.3%.įull-year EPS was $8.60, up 28.2% from the year-ago number. ( IDXX Quick Quote IDXX - Free Report) posted fourth-quarter 2021 earnings per share (EPS) of $1.89, reflecting a 5.9% year-over-year decline.

Gross beat buy