Q1 26 EPS
$3.47
BEAT +1.74%
Est. $3.41
Q1 26 Revenue
$1.14B
BEAT +2.88%
Est. $1.11B
vs S&P Since Q1 26
-3.6%
TRAILING MARKET
IDXX -2.3% vs S&P +1.3%
Market Reaction
Did IDXX Beat Earnings? Q1 2026 Results
IDEXX Laboratories opened 2026 on a strong footing, posting first-quarter revenue of $1.14 billion, up 14.3% year-over-year and ahead of the $1.11 billion consensus by 2.88%, while diluted EPS of $3.47 edged past the $3.41 estimate by 1.74%. The prim… Read more IDEXX Laboratories opened 2026 on a strong footing, posting first-quarter revenue of $1.14 billion, up 14.3% year-over-year and ahead of the $1.11 billion consensus by 2.88%, while diluted EPS of $3.47 edged past the $3.41 estimate by 1.74%. The primary engine behind the beat was the Companion Animal Group, where IDEXX VetLab consumables surged 20% as reported, fueled by testing utilization gains and 12% growth in the global premium instrument installed base; CAG Diagnostics capital instrument revenues also climbed 33% as reported, driven by robust placements of the IDEXX inVue Dx system. Gross margin expanded 90 basis points to 63.4%, while comparable operating margin improved 100 basis points, underscoring disciplined cost management alongside volume growth. IDEXX raised its full-year 2026 revenue guidance to $4.68 billion–$4.76 billion and lifted EPS outlook to $14.45–$14.90, reflecting confidence in sustained CAG Diagnostics recurring revenue momentum and modestly improving clinical visit trends as incoming CEO Mike Erickson prepares to take the helm.
Key Takeaways
- • Strong CAG Diagnostics recurring revenue growth of 14% reported and 11% organic
- • 12% growth in global premium instrument installed base
- • Net customer gains and solid volume growth
- • Modest easing of U.S. clinical visit pressures and increased diagnostic frequency
- • IDEXX VetLab consumables growth of 20% reported driven by testing utilization and innovation
- • Gross margin expansion of 90 basis points from volume gains, productivity, and net pricing
IDXX Forward Guidance & Outlook
IDEXX raised its full-year 2026 revenue guidance to $4,675–$4,760 million (up $42 million at midpoint), reflecting reported growth of 8.6%–10.6% and organic growth of 7.7%–9.7%. CAG Diagnostics recurring revenue is projected to grow 9.6%–11.6% reported and 8.7%–10.7% organic. Full-year operating margin outlook was increased to 32.1%–32.5%, representing 50–90 basis points of expansion. Full-year EPS guidance was raised to $14.45–$14.90, reflecting 11%–14% reported growth and 11%–15% comparable growth. Capital expenditures are projected at approximately $180 million. The company expects foreign currency exchange rate impacts of approximately 0.9% on revenue growth, ~30 bps on operating margin growth, and ~$0.27 on EPS.
IDXX YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
IDXX Revenue by Segment
With YoY comparisons, source: SEC Filings
IDXX Revenue by Geography
With YoY comparisons, source: SEC Filings
“Excellent commercial execution delivered exceptional first quarter results and positions IDEXX for continued strength through 2026. IDEXX Cancer Dx platform momentum continues to build with the recent International launch and growing adoption in the U.S., and our IDEXX inVue Dx roll-out further advances our innovation-driven growth strategy. Initial customer response to the controlled launch of IDEXX inVue Dx FNA has been very encouraging and supports broadening access over the remainder of the year. As I transition from the CEO role, IDEXX remains well-positioned for continued success, and I look forward to continuing to work with Mike Erickson to drive long-term sustained growth in the business.”
— Jay Mazelsky, Q1 2026 Earnings Press Release
IDXX Earnings Trends
IDXX vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
IDXX EPS Trend
Earnings per share: estimate vs actual
IDXX Revenue Trend
Quarterly revenue: estimate vs actual
IDXX Quarterly Results
7 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $3.41 | $3.47 | +1.74% | $1.14B | +2.88% |
| Q4 25 BEAT | $2.94 | $3.08 | +4.85% | $1.09B | +1.73% |
| Q3 25 BEAT | $3.14 | $3.40 | +8.29% | $1.11B | +3.16% |
| Q2 25 BEAT | $3.30 | $3.63 | +9.97% | $1.11B | +3.95% |
| Q1 25 BEAT | $2.84 | $2.96 | +4.06% | $998.4M | +0.20% |
| Q2 23 BEAT | $2.47 | $2.67 | +8.10% | $943.6M | +0.99% |
| Q1 22 BEAT | $2.26 | $2.27 | +0.44% | $836.5M | -0.38% |