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Tuesday, October 27, 2020

LabCorp Q3 top-line up 44%; earnings +219%

  • Laboratory Corporation of America (NYSE:LH) Q3 results:
  • Revenues: $3.90B (+33.1% Y/Y) vs consensus of $3.62B; LabCorp Diagnostics: $2,704.2M (+53.7%); Covance Drug Development: $1,241.9M (+5.7%).
  • Net Income: $703.4M (+218.71%); EPS: $7.17 (+218.7%); non-GAAP EPS: $8.41 may not be comparable to consensus of $5.25. Net earnings in the quarter were impacted by the reversal of the CARES Act Provider Relief Funds received in Q2 2020.
  • CF Ops: $786.2M (+72.6%).
  • The Company continues to not provide 2020 guidance, citing COVID-19 uncertainties.
  • https://seekingalpha.com/news/3626443-labcorp-q3-top-line-up-44-earningsplus-219

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