Laboratory Corp. of America Holdings (LH - Free Report) 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 #2 (Buy) but that could change following its impressive second quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: The Zacks Consensus Estimate remained steady at $2.29 per share over the last 60 days. LabCorp’s adjusted earnings per share of $2.31 beat this estimate by a couple of cents.
Sales: LabCorp posted sales of $2.382 billion, beating the Zacks Consensus Estimate for revenues of $2.332 billion.
Key Stats: Revenues from LabCorp Diagnostics segment increased 5.4% year over year to $1.66 billion in the second quarter, with total volume growth of 2.1%. Revenues from Covance Drug Development segment increased 12.2% to $722.4 million, owing to increased broad-based demand.
Major Factors: LabCorp demonstrated strong revenue growth and double-digit adjusted EPS growth in the second quarter, which according to management reflected the growing enthusiasm of the company’s customers for its differentiated product offering. The company’s raised guidance for 2016 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 LabCorp earnings report later!
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Laboratory Corp. of America Holdings (LH - Free Report) 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 #2 (Buy) but that could change following its impressive second quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: The Zacks Consensus Estimate remained steady at $2.29 per share over the last 60 days. LabCorp’s adjusted earnings per share of $2.31 beat this estimate by a couple of cents.
Sales: LabCorp posted sales of $2.382 billion, beating the Zacks Consensus Estimate for revenues of $2.332 billion.
Key Stats: Revenues from LabCorp Diagnostics segment increased 5.4% year over year to $1.66 billion in the second quarter, with total volume growth of 2.1%. Revenues from Covance Drug Development segment increased 12.2% to $722.4 million, owing to increased broad-based demand.
Major Factors: LabCorp demonstrated strong revenue growth and double-digit adjusted EPS growth in the second quarter, which according to management reflected the growing enthusiasm of the company’s customers for its differentiated product offering. The company’s raised guidance for 2016 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 LabCorp earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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