Healthcare diagnostics company Labcorp Holdings (NYSE: LH) will be reporting results this Thursday before market open. Here’s what you need to know.
Labcorp missed analysts’ revenue expectations last quarter, reporting revenues of $3.52 billion, up 5.6% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ full-year EPS guidance estimates but a slight miss of analysts’ revenue estimates.
Is Labcorp a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Labcorp’s revenue to grow 4.8% year on year, in line with the 5.3% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Labcorp has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Labcorp’s peers in the healthcare providers & services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. NeoGenomics delivered year-on-year revenue growth of 11.1%, beating analysts’ expectations by 1.2%, and Quest reported revenues up 9.2%, topping estimates by 2.7%. Quest traded up 3.9% following the results.
Read our full analysis of NeoGenomics’s results here and Quest’s results here.
There has been positive sentiment among investors in the healthcare providers & services segment, with share prices up 10.8% on average over the last month. Labcorp is down 2.6% during the same time and is heading into earnings with an average analyst price target of $310.06 (compared to the current share price of $256.69).
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