$IDXX · IDEXX LABORATORIES INC /DE
IDEXX Laboratories reported Q3 FY2026 results with revenue of $1.214B, up 10% organic, and diluted EPS of $4.01, up 18% reported and 22% on a comparable basis. CAG Diagnostics recurring revenue grew 11% organic, driven by IDEXX VetLab consumables (+14% reported) and reference lab services (+10% reported). The company raised FY2026 revenue guidance to $4.741B-$4.767B and EPS guidance to $14.96-$15.16, while trimming operating margin outlook by 20 bps at midpoint to 32.1%-32.3% due to acquisition impacts including the CoVet AI clinical assistant deal.
- Q3 revenue $1.214B, +10% organic growth, led by CAG Diagnostics recurring revenue +11% organic
- Diluted EPS $4.01, +18% reported and +22% on a comparable basis
- Gross margin 62.9%, up 110 bps reported; operating margin 33.1%, up 100 bps reported
- Placed over 1,900 IDEXX inVue Dx analyzers in Q3, expanding installed base to nearly 11,000 instruments
- FY2026 revenue guidance raised to $4.741B-$4.767B (+$32M at midpoint); EPS outlook raised to $14.96-$15.16 (+$0.25 at midpoint)
Extended-hours trading shows IDXX at $565.38, +2.57% vs the regular-session close of $551.21, reflecting positive reaction to the beat-and-raise quarter. The regular session had closed down 4.30% before the release.
Double-digit organic growth across all major segments with a guidance raise on both top and bottom line confirms IDEXX's innovation-driven momentum is translating to financial outperformance.
IDEXX's 10% organic CAG Diagnostics recurring revenue growth continues to outpace broader animal health sector growth, with international CAG recurring revenue up 14% organic — nearly double the U.S. rate of 10%.
Forward-looking risks cited include geopolitical instability, tariff and trade policy changes, CoVet integration risk, and supply chain challenges. Operating margin guidance was trimmed 20 bps at midpoint to 32.1%-32.3% due to acquisition-related impacts.