IDEXX Labs

Q2 FY2026 EarningsQ2 FY26 results significantly beat consensus across all key profitability metrics, with EPS of $4.27 vs. $3.95 expected and operating margin expanding 140 bps YoY to 35.0%. Revenue of $1,217M slightly exceeded expectations, driven by 11% reported growth in CAG Diagnostics recurring revenue and strong performance in the Water segment (+15% YoY). Despite a $15M FX headwind, management raised the full-year EPS guidance midpoint to $14.81 (prior $14.67), reflecting robust operational productivity and durable AI-driven innovation demand.