Rising Stock Performance of IDEXX Laboratories
Impressive Q4 Performance
Shares of IDEXX Laboratories soared by over 8% following the company’s robust Q4 earnings report. The company, based in Westbrook, Maine, exceeded expectations with an EPS of $2.32, surpassing the consensus estimate of $2.12. Furthermore, IDEXX reported a 9% year-over-year revenue growth, reaching $901.6 million, higher than the estimated $891.08 million.
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Our AI-driven stock-picking tool, ProPicks, anticipated IDEXX Laboratories’ exceptional performance. The company has been an integral part of our Beat the S&P 500 strategy since November 2023. During this period, IDEXX Laboratories has shown an impressive 44% growth, contributing to the overall 20% gain of the full strategy.
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Fiscal Forecast for 2024
Looking ahead to fiscal year 2024, IDEXX Laboratories anticipates an EPS range of $10.84-$11.33, slightly below the consensus estimate of $11.00. Additionally, the company projects a revenue range of $3.93-4.04 billion, compared to the consensus of $3.97 billion.
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