IDEXX Laboratories reported third-quarter revenue of $1.214 billion, up 10%, as it raised its 2026 revenue and diluted earnings per share outlook but cut its reported operating-margin forecast.
For the quarter ended Sept. 30, revenue was $1.214 billion, up 10% from a year earlier. Diluted earnings per share reached $4.01, a reported increase of 18%; the comparable-basis increase was 22%. Organic revenue growth was also 10%.
IDEXX now expects 2026 revenue of $4.741 billion to $4.767 billion. The range midpoint rose $32 million from the prior outlook and includes $5 million associated with the recent CoVet acquisition. The revised midpoint is $4.754 billion, compared with $4.7225 billion previously.
The company lifted its organic revenue growth forecast to 9.3% to 10%, a 0.6 percentage-point increase at the midpoint. That growth measure is presented separately from the dollar revenue range in the company’s guidance.
Annual diluted EPS guidance now spans $14.96 to $15.16, with the midpoint 25 cents higher than before. At the same time, IDEXX lowered reported operating-margin guidance to 32.1% to 32.3%, from the previous 32.3% to 32.5% range. The midpoint moved to 32.2% from 32.4%. The company said the revised margin outlook includes acquisition-related effects.
IDEXX linked organic growth to volume expansion, product innovation and commercial execution. Companion Animal Group Diagnostics recurring revenue increased 11% on both reported and organic bases. The release reported the gain as 10.8% on a reported basis and 11.0% organically, rounded to 11% for each.
The guidance revisions raise the company’s sales and earnings targets while lowering its margin expectations. President and CEO Mike Erickson said the quarter reflected “strong commercial execution” and momentum from the company’s innovation-driven growth strategy.
