IDEXX Laboratories, Inc. (NASDAQ: IDXX) posted second-quarter 2024 earnings per share of $2.44, down 8.6% year over year. The figure missed the Zacks Consensus Estimate by 14.9%. Comparable constant-currency EPS of $3.02 improved 14.8% year over year. Revenues in Detail Quarterly revenues increased 6.4% year over year (up 7% organically) to $1.00 billion. The reported figure was in line with the Zacks Consensus Estimate. The year-over-year upside was primarily driven by a strong improvement in Companion Animal Group ("CAG") revenues. Veterinary software, services and diagnostic imaging systems' revenues increased 12% on a reported basis and 8% organically, reflecting high recurring revenue growth and continued momentum in cloud-based software placements. Segmental Analysis IDEXX derives revenues from four operating segments — CAG, Water, Livestock, Poultry and Dairy ("LPD"), and Other. CAG revenues rose 6% year over year on a reported basis and 7% on an organic basis to $922.3 million. CAG Diagnostics' recurring revenues, too, increased 6% on a reported basis and 7% organically, supported by strong growth in international regions and sustained benefits of IDEXX execution drivers. The Water segment's revenues increased 9% year over year on a reported basis and 10% organically to $46.7 million. For the second quarter, LPD revenues increased 1% on a reported and 3% on an organic basis to $30.3 million.             Revenues from the Other segment rose 5.3% on a reported basis to $4.2 million. Margins The gross profit rose 8.1% to $619.2 million. The gross margin expanded 99 basis points (bps) to 61.7% despite a 3.7% rise in the cost of revenues. Sales and marketing expenses rose 1.5% to $142.7 million. G&A expenses surged 75.4% to $157.2 million.  R&D ...