IDEXX (IDXX) Q2 2026 Earnings Call Transcript

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DATE

Tuesday, Aug. 4, 2026 astatine 8:30 a.m. ET

CALL PARTICIPANTS

• President and Chief Executive Officer - Mike Erickson

• Chief Financial Officer - Andrew Emerson

• Vice President, Investor Relations - John Ravis

Full Conference Call Transcript

Operator: Good morning, and invited to the IDEXX Laboratories Second Quarter 2026 Earnings Conference Call. As a reminder, today's league is being recorded. Participating successful the telephone this greeting are Mike Erickson, President and Chief Executive Officer; Andrew Emerson, Chief Financial Officer; and John Ravis, Vice President, Investor Relations. IDEXX would similar to preface the treatment contiguous with a caution regarding forward-looking statements. Listeners are reminded that our treatment during the telephone volition see forward-looking statements that are taxable to risks and uncertainties that could origin existent results to disagree materially from those discussed today.

Additional accusation regarding these risks and uncertainties is disposable nether the forward-looking statements announcement successful our property merchandise issued this greeting arsenic good arsenic successful our periodic filings with the Securities and Exchange Commission, which tin beryllium obtained from the SEC oregon by visiting the Investor Relations conception of our website, idexx.com. During this call, we volition beryllium discussing definite fiscal measures not prepared successful accordance with Generally Accepted Accounting Principles oregon GAAP. A reconciliation of these non-GAAP fiscal measures to the astir straight comparable GAAP measures is provided successful our net release, which whitethorn besides beryllium recovered by visiting the Investor Relations conception of our website.

In reviewing our 2nd 4th 2026 results and updated 2026 guidance, delight enactment each references to growth, integrated maturation and comparable maturation notation to maturation compared to the equivalent anterior twelvemonth play unless different noted. [Operator Instructions] Today's prepared remarks volition beryllium posted to the Investor Relations conception of our website aft the net league telephone concludes. I would present similar to crook the telephone implicit to Andrew Emerson.

Andrew Emerson: Good morning. I'm pleased to instrumentality you done our 2nd 4th results and supply an updated outlook for our afloat twelvemonth 2026 fiscal expectations. During the 2nd quarter, IDEXX delivered fantabulous fiscal results, gathering connected beardown execution and enlargement of IDEXX innovations successful our Companion Animal business. Revenue accrued astir 10% arsenic reported and 9% organically, supported by implicit 10% integrated maturation successful CAG Diagnostics recurring revenues, with double-digit gains successful some the U.S. and planetary regions, and beardown planetary maturation successful our Water and LPD businesses. CAG Diagnostics recurring gross maturation was led by expanded volumes, portion U.S. same-store objective visits declined an estimated 1.3% successful the quarter.