LabCorp swings to a loss, withdraws 2020 guidance as coronavirus outbreak drives up costs [CNBC]
Laboratory Corporation of America Holdings (LH)
Last laboratory corporation of america holdings earnings: 4/29 06:53 am
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Source: CNBC
LabCorp on Wednesday reported a net loss for the first quarter as the coronavirus pandemic drove up costs and cut demand, prompting the company to withdraw 2020 guidance. The company reported total revenue of $2.82 billion, up 1% from a year earlier. However, the company posted a net loss of $317.2 million, versus earnings of $185.6 million a year earlier. Burlington, North Carolina-based LabCorp reported costs of $437.4 million that "were triggered by the current economic conditions as a result of the COVID-19 pandemic." It reported another $21.9 million in costs directly related to the coronavirus for the quarter, which ended March 31. The company, which manufactures diagnostic tests, said the coronavirus outbreak drove a 50% to 55% plummet in demand for testing services at the end of the quarter from the year earlier period. That hit to demand was "marginally offset by an increase in demand for COVID-19 tests," the company said, adding that the drop in volume appears to have stabi
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LH
Earnings
- 10/28/25 - Beat
LH
Sec Filings
- 12/3/25 - Form 4
- 12/3/25 - Form 3
- 11/24/25 - Form 8-K
- LH's page on the SEC website