Idexx laboratories announces first quarter results
Achieves first quarter revenue growth of 8% reported and organic, driven by cag diagnostics recurring revenue growth of 8% reported and 9% organic, building on high prior year growth continued strong sector demand supports record first quarter premium instrument placements, driving cag diagnostics capital instrument revenue growth of 19% reported and 22% organic delivers eps of $2.27, representing 3% decline as reported and 3% growth on a comparable basis, reflecting comparisons to strong prior year results and increases in commercial investments adjusts 2022 guidance to reflect moderated veterinary clinical visit growth levels impacted by constraints on clinic capacity, strengthening of the u.s. dollar, and advancement of incremental discrete investments in future innovations re-calibrated 2022 revenue outlook reflects 5.5% - 8% reported growth and 7.5% - 10% organic updated eps outlook of $8.11 - $8.35 includes estimated $0.72 of impact related to discrete research and development expense from the in-license of intellectual property during the second quarter, $0.10 of additional foreign exchange impact from the higher u.s. dollar and $0.05 of impact from higher interest rates westbrook, maine , may 4, 2022 /prnewswire/ -- idexx laboratories, inc. (nasdaq: idxx), a global leader in veterinary diagnostics, veterinary practice software and water microbiology testing, today announced first quarter results, as well as an update on u.s. companion animal diagnostics trends. first quarter results the company reports revenues of $837 million for the first quarter of 2022, an 8% increase as reported and organically, driven by companion animal group ("cag") diagnostics recurring revenue growth of 8% reported and 9% organic compared to high prior year gains.
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