VCA Antech (WOOF) Tops Q4 EPS by 5c; Guides Above the Street

VCA Antech (NASDAQ: WOOF) reported Q4 EPS of $0.50, $0.05 better than the analyst estimate of $0.45. Revenue for the quarter came in at $533.7 million versus the consensus estimate of $531.4 million.

GUIDANCE:

VCA Antech sees FY2016 EPS of $2.73-$2.83, versus the consensus of $2.67. VCA Antech sees FY2016 revenue of $2.37-2.39 billion, versus the consensus of $2.3 billion.

Bob Antin, Chairman and CEO, stated, “We had an exceptional fourth quarter, which concluded another strong year. We experienced solid organic revenue growth of 7.4% and 8.2% in our core Animal Hospital and Laboratory business segments, respectively. Our same-store Animal Hospital gross profit margins increased 140 basis points and our Laboratory gross profit margins increased an impressive 280 basis points. The positive momentum in our business has continued from the third quarter to the end of the year and accordingly, we are optimistic about our overall growth prospects in 2016.

“Animal Hospital revenue in the fourth quarter of 2015 increased 12.3%, to $427.5 million, driven by acquisitions made in the past twelve months and same-store revenue growth of 7.4%. Our same-store gross profit margin increased to 14.8% from 13.4% and our total gross margin increased to 14.2%, from 13.2% in the prior-year quarter. During the quarter, we acquired 13 independent animal hospitals which had historical combined annual revenue of $31.7 million, bringing our year to date total to $122.0 million.

“Laboratory internal revenue in the fourth quarter of 2015 increased 8.2% to $90.9 million, driven by an increase in requisitions of 5.1%. Our Laboratory gross profit margin increased to 48.8% from 46.0% and our operating margin increased to 37.9% from 35.8%."

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

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