LabCorp: 2Q Earnings Snapshot
BURLINGTON, N.C. (AP) _ Laboratory Corp. of America Holdings (LH) on Thursday reported second-quarter profit of $190.4 million.
On a per-share basis, the Burlington, North Carolina-based company said it had net income of $1.93. Earnings, adjusted for one-time gains and costs, were $2.93 per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $2.90 per share.
The medical laboratory operator posted revenue of $2.88 billion in the period, falling short of Street forecasts. Eight analysts surveyed by Zacks expected $2.9 billion.
LabCorp expects full-year earnings in the range of $11.10 to $11.40 per share.
LabCorp shares have risen 41% since the beginning of the year, while the Standard & Poor’s 500 index has increased 20%. The stock has declined 3.5% in the last 12 months.