LabCorp (LH) Beats on Q4 Earnings and Sales - Tale of the Tape
Laboratory Corp. of America Holdings (LH) is a leading independent clinical laboratory, whose offerings include a broad range of routine tests (including blood chemistry analysis, urinalyses, blood cell count, thyroid test, Pap tests and HIV tests) as well as specialty testing operations or esoteric testing.
Currently, LabCorp has a Zacks Rank #2 (Buy) but that could improve following its solid fourth-quarter 2014 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: The Zacks Consensus Estimate remained steady at $1.63 per share over the last 60 days. LabCorp’s adjusted earnings per share of $1.65 beat this estimate by a couple of cents.
Sales: LabCorp posted revenues of $1.513 billion, comfortably beating the Zacks Consensus Estimate for revenues of $1.494 billion.
Key Stats: Total volume, including acquisitions, increased 6.4% on a year-over-year basis. The company’s revenue per requisition however fell 1.1%, while organic volume growth was 5.3%.
Major Factors: LabCorp recently completed the acquisition of drug development company – Covance for approximately $5.7 billion. Management also announced Project LaunchPad – its enterprise-wide business process improvement initiative – which is expected to achieve net savings in excess of $150 million over the next three years.
Stock Price: Following the earnings release, share prices did not show any movement in the pre-market trading session.
Check back later for our full write up on this LabCorp earnings report later!
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