Labcorp beats quarterly estimates on strong testing demand [Reuters]
Laboratory Corporation of America Holdings (LH)
Last laboratory corporation of america holdings earnings: 4/29 06:53 am
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Source: Reuters
April 25 (Reuters) - Labcorp beat Wall Street expectations for first-quarter profit on Thursday, as growing demand for specialty tests boosted sales at its diagnostics business. Specialty testing, which includes cancer and prenatal tests, have been growing at an accelerated pace, along with a steady demand for routine tests, CEO Adam Schechter told Reuters. More people in the United States, where Labcorp has more than 2000 patient service centers, are catching up on medical procedures and routine check-ups that were deferred due to pandemic-driven restrictions. The increased uptake of medical procedures has benefited U.S.-based lab testing companies, including Labcorp's rival Quest Diagnostics , which raised its 2024 revenue and profit forecast betting on strong demand for diagnostic tests. Sales from the diagnostics unit - its biggest segment by revenue - were $2.48 billion in the quarter ended March 31, up 4.2% from a year earlier. The life sciences company narrowed its 2
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LH
Earnings
- 4/25/24 - Beat
LH
Sec Filings
- 5/3/24 - Form 144
- 5/2/24 - Form 144
- 5/2/24 - Form 4
- LH's page on the SEC website