IDEXX Laboratories Boosts FY20 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the fourth quarter on Friday, pet healthcare company IDEXX Laboratories, Inc. (IDXX) raised its earnings and revenue guidance for the full-year 2020.

For fiscal 2020, the company raised its earnings outlook by $0.12 per share to a range of $5.42 to $5.58 per share, a targeted growth of 11 to 14 percent on a reported basis and 13 to 16 percent on a comparable constant currency basis, which excludes a 3 percent growth rate benefit from comparisons to the 2019 CEO transition charges.

The company also increased its revenue guidance by $5 million to a range between $2.620 billion and $2.655 billion, reflecting consistent expectations for reported and organic revenue growth of 9 to 10.5 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.77 per share on revenue growth of 8.5 percent to $2.40 billion for the year. Analysts' estimates typically exclude special items.

"We are well positioned to build on this progress in 2020, leveraging our expanded global commercial capability and unique innovations which support continued strong diagnostics market growth driven by the adoption of higher standards of care for pets globally," said Jay Mazelsky, President and Chief Executive Officer.