EarningsQ2 2026 Earnings Report
MX:IDXX Q2 2026 EPS Results
Actual EPS$73.19
Consensus EPS$67.59
Beat/MissBeat by +$5.61
One Year Ago EPS$62.22
MX:IDXX Q2 2026 Revenue Results
Actual Revenue$20.85B
Expected Revenue$20.57B
Beat/MissBeat by +$280.42M
YoY Revenue Growth+9.66%
Earnings Announcement Details
QuarterQ2 2026
Date08/04/2026
TimeBefore Open
Conference CallTuesday, August 4, 2026
MX:IDXX Upcoming Earnings
Idexx Laboratories's next earnings date is estimated for November 3, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:IDXX Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a strongly constructive operational and financial picture: solid organic revenue growth (~9% Q2), recurring CAG Diagnostics strength, robust margin and EPS expansion, strong free cash flow and aggressive capital returns, plus clear product and innovation momentum (inVue Dx, Cancer Dx, Catalyst SDMA). Offsetting items include continued pressure on U.S. clinic and wellness visits, a Q2 instrument revenue lap effect, foreign-exchange headwinds, and planned incremental investments that will temper near-term margin gains. Overall, the positive drivers — durable recurring revenue expansion, margin gains, cash generation, and multiple innovation milestones — materially outweigh the cited headwinds.Company Guidance
Strong Revenue and Upgraded Full-Year Outlook
Q2 revenue increased ~10% reported and ~9% organically. Company updated full-year revenue guidance to $4,700M–$4,745M (midpoint raised $5M net), with an overall organic revenue growth outlook of 8.5%–9.7% and reported revenue growth of ~9.1%–10.3%.
Robust CAG Diagnostics Recurring Revenue
CAG Diagnostics recurring revenue grew 10.3% organically in Q2 (U.S. ~+10% organically; International ~+12% organically). Global net price realization contributed ~4% and IDEXX's recurring diagnostic growth showed a ~1,100 basis point premium vs. U.S. clinical visit trends.
inVue Dx and Premium Instrument Momentum
Q2 premium instrument placements totaled 5,265. inVue Dx placements were ~1,602 in Q2 and ~2,700 in H1 (9,000 placements since launch), on pace for the company goal of ~5,500 inVue placements for the full year. Consumable attachment for inVue remains within the targeted range (~$3,500–$5,500 per instrument).
Margin Expansion and EPS Growth
Comparable operating margin improved by ~110 basis points in Q2, gross margin expanded ~120 basis points to 64%. Comparable operating profit rose ~12%, and Q2 EPS was $4.27 (+18% reported; +15% comparable). Full-year EPS guidance increased to $14.69–$14.94 (13%–15% comparable growth).
Strong Free Cash Flow and Capital Allocation
Free cash flow was $323M in Q2 and $557M for H1 2026; trailing 12-month net income to free cash flow conversion was 110%. Company raised full-year FCF conversion expectation to 90%–100% of net income. IDEXX repurchased $332M in Q2 and $693M YTD, reducing diluted shares by ~2% YoY in Q2.
Product and Innovation Milestones Driving Long-Term Growth
Cancer Dx surpassed 10,000 global clinics ordering since launch; ~70% of Cancer Dx tests run as part of broader bloodwork and ~20% of orders come from practices using competitive labs. Catalyst CLIP added SDMA in North America; DR50 Plus (digital radiography) set six consecutive placement records; Water and LPD businesses delivered double-digit and strong single-digit organic growth respectively.
MX:IDXX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed