VCA Antech (WOOF) Tops Q2 EPS by 5c; Lifts Outlook

VCA Antech (NASDAQ: WOOF) reported Q2 EPS of $0.70, $0.05 better than the analyst estimate of $0.65. Revenue for the quarter came in at $548.8 million versus the consensus estimate of $538.92 million.

VCA Antech sees FY2015 EPS of $2.25-$2.35, versus the consensus of $2.25. VCA Antech sees FY2015 revenue of $2.12-2.13 billion, versus the consensus of $2.1 billion.

Bob Antin, Chairman and CEO, stated, "We had a great quarter. Our Animal Hospital business segment same-store revenue growth rate continues to accelerate, driven once again by an increase in both the number of orders and the average revenue per order. Our Laboratory business segment experienced 7.3% internal revenue growth resulting in a 220 basis point increase in gross profit margin. Accordingly, we remain very optimistic with respect to our results for the full year ended December 2015.

"Animal Hospital revenue in the current quarter increased 12.6%, to $435.4 million, driven by acquisitions made during the past 12 months and same-store revenue growth of 6.0%. Our same-store gross profit margin increased to 17.3%, from 16.6% and our total gross margin increased to 16.9%, from 16.4% in the prior-year quarter. During the quarter, we acquired 12 independent animal hospitals which had historical combined annual revenue of $30.5 million.

"Laboratory internal revenue in the second quarter increased 7.3%, to $103.0 million. Our Laboratory gross profit margin increased to 53.4%, from 51.2% and our operating margin increased to 44.4%, from 42.5% in the prior-year quarter.

"During the quarter we repurchased 840,000 shares of our common stock for $43.9 million. Since the Board authorized our repurchase programs in April 2013, through the second quarter 2015, we have acquired 9.1 million shares for $365.7 million, including commissions. At the end of the second quarter, we have $159.5 million left in our authorization."

For earnings history and earnings-related data on VCA Antech (WOOF) click here.

You May Also Be Interested In

• Bristol-Myers Squibb (BMY) stock slips despite earnings beat
• Equinor ASA (EQNR) Tops Q1 EPS by 22c, misses on revenue
• Unilever PLC (UL) Q1 Revenue Misses Estimates