LabCorp: 3Q Earnings Snapshot
BURLINGTON, N.C. (AP) _ Laboratory Corp. of America Holdings (LH) on Thursday reported third-quarter profit of $220.7 million.
On a per-share basis, the Burlington, North Carolina-based company said it had net income of $2.25. Earnings, adjusted for one-time gains and costs, were $2.90 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.84 per share.
The medical laboratory operator posted revenue of $2.93 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $2.91 billion.
LabCorp expects full-year earnings in the range of $11.20 to $11.30 per share.
LabCorp shares have climbed 34% since the beginning of the year, while the Standard & Poor's 500 index has climbed 20%. The stock has risen slightly in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LH at https://www.zacks.com/ap/LH