IDEXX Laboratories Beats Q3 Estimates and Raises Full Year 2026 Guidance as Stock Surges 18%

IDEXX Laboratories reported third quarter 2026 revenue of $1.214 billion, a 10% increase both as reported and on an organic basis, beating analyst estimates by roughly 2.2%. Earnings per diluted share came in at $4.01, up 18% as reported and 22% on a comparable basis, topping the consensus estimate by $0.24 or approximately 7.3%. Growth was led by the Companion Animal Group, whose diagnostics recurring revenue rose 11% as reported and organic, driven by volume expansion, net new customer gains, premium instrument installed base expansion, and price realization.

Following the beat, IDEXX raised its full year 2026 revenue guidance to a range of $4.741 billion to $4.767 billion, an increase of $32 million at the midpoint, reflecting continued strong CAG Diagnostics recurring revenue performance. The company also lifted its 2026 EPS outlook to $14.96 to $15.16, a $0.25 increase versus the prior guidance midpoint, supported by the higher revenue outlook while absorbing acquisition impacts. The updated guidance implies reported revenue growth of 10.1% to 10.8% and organic revenue growth of 9.3% to 10.0% for the full year.

Shares of IDXX surged sharply on the news, trading up as much as 17.8% in early Monday trading, making it the top performer in both the S&P 500 and the Nasdaq 100. The stock had been down roughly 4% year to date heading into the report. Barron's noted that IDEXX achieved strong growth in veterinary diagnostics even as broader industry demand remained sluggish.