IDEXX Laboratories (IDXX) Q3 2026 Earnings Call: Guidance and Outlook
Management updated its full year 2026 financial expectations, raising revenue and EPS ranges while reflecting strong third quarter performance and the inclusion of CoVet.
About IDEXX Laboratories. IDEXX Laboratories, Inc. is a global enterprise focused on creating, producing, and distributing a wide array of products and services. Its primary client base includes companion animal veterinary practices, the livestock and poultry industries, dairy operations, and water quality testing sectors.
Reported operating margins of 28.4% to 29.3% in the fourth quarter.
Annual guidance
Revenue
$4,741 million to $4,767 million, an increase of $32 million at midpoint.
Organic Revenue Growth
9.3% to 10% overall organic revenue growth, with CAG Diagnostics recurring revenue growth of 10.3% to 11%.
Earnings Per Share
$14.96 to $15.16 per share.
Operating Margin
32.1% to 32.3% reported operating margin outlook, reflecting 50 to 70 basis points of full year comparable improvement.
Free Cash Flow Conversion
95% to 100% of net income.
Outlook
Diagnostic demand
Demand for diagnostic solutions remains high, supported by net new customer gains, expansion of the premium instrument installed base, and increased utilization of IDEXX innovations.
Patient demographics
Underlying patient dynamics continue to support long-term demand, with older pets driving clinical visit growth and wellness visits still largely lacking blood work.
Innovation rollout
The company is advancing its innovation pipeline, including the global expansion of inVue Dx with fine needle aspirate, expanded Cancer Dx panels, and the launch of Catalyst proBNP.
Software expansion
The acquisition of CoVet creates a new revenue growth driver in the software modality and supports further diagnostic utilization.
Dombey's summary of the IDEXX Laboratories Q3 2026 earnings call held Nov 2, 2026, written from the call itself. Every figure on this page was checked against what was said on the call, and quoted lines are management's own words; we do not add estimates or prices. The tone score is our read of management's wording, guidance and answers. Check figures against the company's SEC filings before acting. This is research, not investment advice.
