CL King Upgrades IDEXX Laboratories (IDXX) to Buy
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IDEXX Labs (IDXX) Tops Q2 EPS by 10c, Beats on Revenues; Offers FY17 EPS / Revenue Guidance Above Consensus
August 1, 2017 7:11 AM EDTIDEXX Labs (NASDAQ: IDXX) reported Q2 EPS of $0.95, $0.10 better than the analyst estimate of $0.85. Revenue for the quarter came in at $508.94 million versus the consensus estimate of $502.27 million.
2017 Financial Outlook
We are raising our 2017 revenue outlook by $17.5 million at the midpoint of prior guidance to $1,945 million - $1,965 million, reflecting an expectation for organic revenue growth of 10% - 11% and approximately a $13 million revenue benefit from updated assumptions related to foreign exchange rates, as noted below. At these rates compared to rates in effect in 2016, we estimate that the stronger U.S. dollar will adversely impact 2017... More
