Katarina Markovic's questions to IDEXX Laboratories Inc (IDXX) leadership • Q1 2025
Question
Katarina Markovic, on for Chris Schott, inquired about the overall health of U.S. pet owner demand amid economic uncertainty and asked for details on the company's exposure to tariffs and its mitigation strategies.
Answer
Executive Andrew Emerson acknowledged pressure on clinical visits, especially for elective procedures, but stated this is factored into the company's outlook and offset by strong diagnostic utilization. On tariffs, he explained that with 65% of revenue being U.S.-based and less than 1% from China, the company is well-positioned. CEO Jay Mazelsky added that the 'local-for-local' model of their global reference labs and a focus on supply chain resilience further mitigate tariff impacts.