Management remarks
Call period: 2026 Q2 · 2026-08-04
Guidance: Andrew Emerson: Strong second quarter performance supports an increase to our full year outlook while advancing incremental growth investments. We're updating our full year revenue range to $4,700 million to $4,745 million, an increase of $5 million at midpoint, net of a $20 million increase in operational performance, offset by a $15 million headwind from updated foreign currency effects.Demand and orders: Andrew Emerson: International CAG Diagnostics recurring revenues grew nearly 12% organically in Q2, sustaining double-digit gains, led by volume growth. International performance continues to be driven by IDEXX execution with volume gains from net new customers, supported by expansion of our premium instrument installed base and same-store utilization, including benefits from IDEXX innovations.Margins: Andrew Emerson: Gross margins were 64%, up approximately 120 basis points on a comparable basis. These gains reflect benefits from strong recurring revenue growth in IDEXX VetLab consumables and Reference Lab volumes, operational productivity, and favorable business mix, including strong margin gains in our Water and LPD businesses.Analyst Q&A
Analyst Michael Ryskin asked: I want to touch on inVue placements in the quarter, a little over 1,600. You reiterate the full year guide, but it's still a really nice step-up versus your 1Q instrument placement number for inVue. Is this just sort of normal lumpiness that we should expect in the business? Management Andrew Emerson answered: For the inVue Dx placements, again, you could see there's been a level of variability here throughout the quarters. I think when it comes to placements, really, it's about when the customer is ready to take on some new instruments and plan for that. We work, again, in partnership with them. And so there's always some level of variability that you're highlighting on the placement metrics. From a year-to-date perspective, about 2,700 placements this year. That puts us essentially 50% of the way towards the full year delivery.管理层陈述
电话会期间：2026 Q2 · 2026-08-04
指引：安德鲁·爱默生表示，强劲的第二季度业绩支持我们上调全年展望并推进增量增长投资。我们将全年收入区间更新为47亿至47.45亿美元，中点较此前增加500万美元，该调整以运营业绩提升2000万美元为基础，抵消了1500万美元的最新外汇逆风。需求与订单：安德鲁·爱默生表示，第二季度国际CAG诊断业务经常性收入有机增长近12%，维持两位数增长，主要受销量增长推动。国际业务增长由爱德士执行力驱动，净新增客户带来销量增长，优质仪器安装基础扩张与同店使用率提升（含爱德士创新收益）提供支持。利润率：安德鲁·爱默生表示，毛利率为64%，可比基础上上升约120个基点。该增长得益于爱德士VetLab耗材和参考实验室业务量的强劲经常性收入增长、运营生产力提升以及有利的业务结构，包括我们水业务与LPD业务的强劲利润率增长。分析师问答
分析师迈克尔·里斯金提问：我想聊聊本季度inVue的装机量，略超1600台。你们重申了全年指引，但本季度装机量相较第一季度仍有不错提升，这是否属于业务中正常的波动？ 管理层安德鲁·爱默生回应：inVue Dx的装机量各季度本就存在一定波动，装机量取决于客户何时准备采购新仪器并制定计划，我们会与客户合作推进。因此正如你所说，装机量指标总会有一定波动。今年年初至今装机量约2700台，相当于完成了全年交付目标的50%。This earnings research was prepared from company results, regulatory filings, financial statements, and earnings-call transcripts or official replays. It is for informational purposes only and does not constitute investment advice.这篇财报研究基于公司业绩公告、监管文件、财务报表，以及财报电话会议记录或官方回放整理。内容仅供参考，不构成投资建议。
