LabCorp, Based In Burlington, Posts $180.6M Net Income In 3Q

BURLINGTON, NC — Laboratory Corp. of America Holdings (LH), a medical laboratory operator based in Burlington, North Carolina, reported Wednesday a third-quarter net-income of $180.6 million and a profit of $1.74 per share. Earnings, adjusted for non-recurring costs, came to $2.46 per share.

The results far surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $2.39 per share.

LabCorp posted revenue of $2.66 billion in the period, which also beat Wall Street projections. Ten analysts surveyed by Zacks expected $2.56 billion.

LabCorp expects full-year earnings in the range of $9.40 to $9.60 per share.

LabCorp shares have risen 18 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 15 percent. The stock has increased 8 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LH at https://www.zacks.com/ap/LH

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