In its upcoming report, Idexx Laboratories (IDXX) is predicted by Wall Street analysts to post quarterly earnings of $2.93 per share, reflecting an increase of 11.8% compared to the same period last year. Revenues are forecasted to be $1.07 billion, representing a year-over-year increase of 12.2%.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.1% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Bearing this in mind, let's now explore the average estimates of specific Idexx metrics that are commonly monitored and projected by Wall Street analysts.
Based on the collective assessment of analysts, 'Revenue- Companion Animal Group (CAG)' should arrive at $981.34 million. The estimate suggests a change of +12.7% year over year.
It is projected by analysts that the 'Revenue- Other' will reach $4.19 million. The estimate indicates a year-over-year change of +2.1%.
Analysts forecast 'Revenue- Livestock and poultry diagnostics (LPD)' to reach $37.26 million. The estimate suggests a change of +7.8% year over year.
The consensus estimate for 'Revenue- Water' stands at $48.65 million. The estimate points to a change of +7.8% from the year-ago quarter.
Analysts expect 'Revenue- Companion Animal Group- United States' to come in at $637.61 million. The estimate suggests a change of +11.1% year over year.
The average prediction of analysts places 'Revenue- Companion Animal Group- International' at $344.39 million. The estimate indicates a change of +16.2% from the prior-year quarter.
Analysts' assessment points toward 'Revenue- LPD- International' reaching $31.74 million. The estimate indicates a change of +12.8% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Revenue- Water- International' of $25.82 million. The estimate indicates a change of +11.6% from the prior-year quarter.
The combined assessment of analysts suggests that 'Gross Profit - CAG' will likely reach 60.2%. Compared to the current estimate, the company reported 59.7% in the same quarter of the previous year.
Analysts predict that the 'Gross Profit - Other' will reach 29.8%. Compared to the present estimate, the company reported 34.6% in the same quarter last year.
According to the collective judgment of analysts, 'Gross Profit - LPD' should come in at 50.1%. The estimate is in contrast to the year-ago figure of 49.6%.
The consensus among analysts is that 'Gross Profit - Water' will reach 71.7%. Compared to the present estimate, the company reported 72.4% in the same quarter last year.
View all Key Company Metrics for Idexx here>>>
Shares of Idexx have experienced a change of +1.8% in the past month compared to the +0.8% move of the Zacks S&P 500 composite. With a Zacks Rank #2 (Buy), IDXX is expected to outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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IDEXX Laboratories, Inc. (IDXX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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