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LabCorp (LH) Beats on Q4 Earnings & Revenue Estimates

Laboratory Corp. of America HoldingsLH is a leading independent clinical laboratory, whose offerings include a broad range of routine tests (including blood chemistry analysis, urinalyses, blood cell count, thyroid test, Pap tests and HIV tests) as well as specialty testing operations or esoteric testing.

Currently, LabCorp has a Zacks Rank #3 (Hold) but that could change following its fourth quarter 2016 earnings report which has just released. (You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. ) We have highlighted some of the key details from the just-released announcement below:

Earnings : The Zacks Consensus Estimate is pegged at $2.13 per share over the last 30 days. LabCorp's adjusted earnings per share of $2.15 beating this estimate by 2 cents.

Full-year 2016 adjusted earnings came in at $8.83 per share which has also surpassed the Zacks Consensus Estimate of $8.79 by 0.4%.

Laboratory Corporation of America Holdings Price and EPS Surprise

Laboratory Corporation of America Holdings Price and EPS Surprise | Laboratory Corporation of America Holdings Quote

Sales : LabCorp posted sales of $2.39 billion, which has beaten the Zacks Consensus Estimate for sales of $2.35 billion.

Full-year 2016 revenues came in at $9.44 billion which is also ahead of the Zacks Consensus Estimate figure of $9.42 billion.

Key Stats : Revenues from LabCorp Diagnostics segment increased 7.8% year over year to $1.67 billion in the fourth quarter, with total volume growth of 2.7%. Revenues from Covance Drug Development segment increased 3.5% to $691.4 million, owing to increased broad-based demand.

Major Factors : LabCorp demonstrated strong year over year growth in revenue and adjusted EPS in the fourth quarter, which according to management reflected the growing enthusiasm of the company's customers for its differentiated product offering. The company's guidance for 2017 on both top and bottom line front buoys further optimism.

Stock Price : Following the earnings release, share prices did not show any movement in the pre-market trading session

Check back later for our full write up on this Boston Scientific earnings report later!

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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