IDEXX Laboratories, Inc. (IDXX) CEO Jay Mazelsky on Q1 2021 Results - Earnings Call Transcript

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Q1: 2021-05-04 Earnings Summary

EPS of $2.35 beats by $0.63
 | Revenue of $777.71M (24.17% Y/Y) beats by $39.39M

IDEXX Laboratories, Inc. (NASDAQ:IDXX) Q1 2021 Earnings Conference Call May 4, 2021 8:30 AM ET

Company Participants

Brian McKeon - Chief Financial Officer
Jay Mazelsky - President and Chief Executive Officer

Conference Call Participants

Michael Ryskin - Bank of America
Erin Wright - Credit Suisse
Jon Block - Stifel
Nathan Rich - Goldman Sachs
Balaji Prasad - Barclays

Operator

Good morning and welcome to the IDEXX Laboratories' First Quarter 2021 Earnings Conference Call. As a reminder, today’s conference is being recorded. Participating in the call this morning are Jay Mazelsky, President and Chief Executive Officer; Brian McKeon, Chief Financial Officer; and John Ravis, Senior Director, Investor Relations.

IDEXX would like to preface the discussion today with a caution regarding forward-looking statements. Listeners are reminded that our discussion during the call will include forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those discussed today.

Additional information regarding these risks and uncertainties is available under the forward-looking statements notice in our earnings release issued this morning, as well as in our periodic filings with the Securities and Exchange Commission, which can be obtained from the SEC or by visiting the Investor Relations section of our website, idexx.com.

During this call, we will be discussing certain financial measures not prepared in accordance with Generally Accepted Accounting Principles or GAAP. These include comparable gross profit growth, comparable gross margin gain or growth, comparable operating expense growth, comparable operating expense growth, comparable operating profit growth, comparable operating margin gain or growth, and comparable EPS growth.

These non-GAAP financial measures exclude the impact of changes in foreign currency exchange rates and non-recurring or unusual items if any. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures is provided in our earnings release, which

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