Laboratory of America Holdings Earnings: Here’s Why Shares are Down Now
Laboratory Corp. of America Holdings (NYSE:LH) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.03%.
Laboratory Corp. of America Holdings Earnings Cheat Sheet
Results: Adjusted Earnings Per Share were the same at $1.74 in the quarter as EPS of $1.74 in the year-earlier quarter.
Revenue: Rose 1.24% to $1.44 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Laboratory Corp. of America Holdings reported adjusted EPS income of $1.74 per share. By that measure, the company missed the mean analyst estimate of $1.77. It missed the average revenue estimate of $1.45 billion.
Quoting Management: “We delivered another solid quarter, highlighted by revenue growth of approximately 3.0% per day,” said David P. King, Chairman and Chief Executive Officer. “We continue to execute our strategic initiatives, and we remain pleased with the performance of our business, particularly Medtox, our most recent acquisition.”
Key Stats (on next page)…