IDEXX reports second quarter revenue growth of 10%, raises full year outlook

IDEXX Laboratories announced second quarter 2026 results on August 4, 2026. The company reported revenues of $1,217 million for the quarter, an increase of 10% as reported and 9% organic, driven by growth across its Companion Animal Group, Water, and Livestock, Poultry and Dairy segments.¹ Diluted earnings per share were $4.27, up 18% as reported and 15% on a comparable basis.¹

CAG Diagnostics recurring revenue grew 11% as reported and 10% organic, with international regions up 14% reported and 12% organic and U.S. growth of 10% reported and organic.¹ The company's IDEXX inVue Dx installed base surpassed 9,000 instruments, with more than 1,600 placements during the quarter.¹

Operating margin came in at 35.0% for the quarter, an improvement of 140 basis points as reported and 110 basis points on a comparable basis versus the prior year period.¹

Looking ahead, the company updated its full-year guidance. It narrowed its 2026 revenue guidance to a range of $4,700 million to $4,745 million, up $5 million at the midpoint, and raised its midpoint for full-year reported revenue growth to 9.7%, with CAG Diagnostics recurring revenue reported growth projected at 10.1% to 11.3%.¹ The company also raised its 2026 EPS outlook to a range of $14.69 to $14.94, an increase of $0.14 at the midpoint compared to prior guidance.¹

On cash flow, the company calculated a trailing twelve-month net income to free cash flow ratio for the period ended June 30, 2026 using purchases of property and equipment of approximately $117 million, net cash provided from operating activities of approximately $1,372 million, and net income of approximately $1,140 million.¹ IDEXX will host its 2026 Investor Day on August 13, 2026, according to the release.