Idexx Laboratories’ (IDXX) products and services cater to the companion animal, veterinary, livestock, poultry, dairy, and water testing markets. The company also sells portable electrolytes and blood gas analyzers. So far in 2018, Idexx Laboratories stock has generated more than 50.0% returns for investors.
In this series, we’ll explore Idexx’s financials, the performance of its business and geographic segments, analysts’ recommendations for the stock, and the company’s valuation metrics.
Idexx Laboratories (IDXX) generated total revenues of $580.7 million in the second quarter, compared with $508.9 million in the second quarter of 2017. The company generates revenues from product sales and services. Its product sales increased from $304.1 million in the second quarter of 2017 to $348.6 million in the second quarter
Idexx’s service revenues increased from $204.85 million in the second quarter of 2017 to $232.1 million in the second quarter. This revenue growth was driven by strong volume gains in Idexx’s diagnostics and reference laboratory business.
For fiscal 2018 and fiscal 2019, Idexx is expected to generate revenues of $2.22 billion and $2.45 billion, respectively, compared with revenues of $1.97 billion in fiscal 2017.
Idexx Laboratories incurred a cost of sales of $248.3 million in the second quarter, compared with $216.2 million in the second quarter of 2017. For fiscal 2018, Idexx’s gross margins are expected to reach 56.23%, compared with 55.73% in fiscal 2017.
We’ll take a look at Idexx Laboratories’ operational performance in the next part.