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IDEXX Laboratories Drops On Lower Q1 Net Profit, Lower Outlook

IDEXX Laboratories, Inc. (IDXX) shares are declining more than 5 percent on Wednesday after the company reported a reduction in first-quarter net profit and trimmed full year revenue outlook.

The company posted quarter net income of $193.96 million, lower than net income of $204.26 million in the prior year. On a per-share basis, earnings were $2.27, compared to $0.235 in the previous year.

Looking ahead to the full year 2022, the company expects revenue growth of 5.5 percent - 8 percent while the previous expectation was in a range of 9 - 11 percent on a reported basis.

The Company now projects full-year operating margins of 26.8 percent - 27.3 percent.
Currently, shares are at $413.02, down 5.26 percent from the previous close of $435.96 on average volume of 692,308. For the 52-week period, the shares have traded in a range of $381.11-$706.95 on average volume of 510,451.

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