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Compared to Estimates, Labcorp (LH) Q1 Earnings: A Look at Key Metrics

Zacks Equity Research
·2-min read

For the quarter ended March 2024, Labcorp (LH) reported revenue of $3.18 billion, down 15.9% over the same period last year. EPS came in at $3.68, compared to $3.82 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $3.13 billion, representing a surprise of +1.59%. The company delivered an EPS surprise of +6.36%, with the consensus EPS estimate being $3.46.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how Labcorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenues- Biopharma Laboratory Services: $710.90 million versus $697.35 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -49.3% change.

  • Revenues- Diagnostics Laboratories: $2.48 billion compared to the $2.42 billion average estimate based on three analysts. The reported number represents a change of +4.1% year over year.

  • Adjusted Operating Income- Biopharma Laboratory Services: $99.90 million compared to the $92.47 million average estimate based on three analysts.

  • Adjusted Operating Income- Diagnostics Laboratories: $417.90 million versus $427.90 million estimated by three analysts on average.

View all Key Company Metrics for Labcorp here>>>

Shares of Labcorp have returned -4% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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Zacks Investment Research