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 #4(Sell) but that could change following its first quarter 2017 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 $2.19 per share over the last 30 days. LabCorp’s first quarter adjusted earnings per share of $2.22, up 8% year over year has surpassed this estimate by 1.4%.
Sales: LabCorp posted sales of $2,408.1 million in the reported quarter, which has marginally missed the Zacks Consensus Estimate for sales of $2,411.0 million.
Key Stats: Revenues from LabCorp Diagnostics segment increased 8.0% year over year to $1.72 billion in the first quarter, with total volume growth of 4.3%. However, revenues from Covance Drug Development segment declined by 1.8% year over year to $690.3 million because of sluggish revenue conversion and adverse effect of the cancellation by sponsors of two large clinical studies in late 2016.
Major Factors: Per management, LabCorp made impressive progress and performed outstandingly in the Diagnostics business during the quarter. In the LabCorp Diagnostics business, the company had excellent revenue growth, with significant increases in both total and organic volume and revenue per requisition, leading to expansion of our industry-leading margins. The company has also updated its full year 2017 outlook.
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!
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.
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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 #4(Sell) but that could change following its first quarter 2017 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 $2.19 per share over the last 30 days. LabCorp’s first quarter adjusted earnings per share of $2.22, up 8% year over year has surpassed this estimate by 1.4%.
Sales: LabCorp posted sales of $2,408.1 million in the reported quarter, which has marginally missed the Zacks Consensus Estimate for sales of $2,411.0 million.
Key Stats: Revenues from LabCorp Diagnostics segment increased 8.0% year over year to $1.72 billion in the first quarter, with total volume growth of 4.3%. However, revenues from Covance Drug Development segment declined by 1.8% year over year to $690.3 million because of sluggish revenue conversion and adverse effect of the cancellation by sponsors of two large clinical studies in late 2016.
Major Factors: Per management, LabCorp made impressive progress and performed outstandingly in the Diagnostics business during the quarter. In the LabCorp Diagnostics business, the company had excellent revenue growth, with significant increases in both total and organic volume and revenue per requisition, leading to expansion of our industry-leading margins. The company has also updated its full year 2017 outlook.
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!
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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