What's In The Offing For LabCorp's (LH) Earnings In Q3?
Zacks Investment Research | Oct 20, 2019 11:31PM ET
Laboratory Corporation of America Holdings (NYSE:LH) also known as LabCorp is slated to report third-quarter 2019 results on Oct 24, before the market opens.
In the last reported quarter, the company’s adjusted earnings exceeded the Zacks Consensus Estimate by 1.03%, the average trailing four-quarter beat being 0.42%.
Let's see how things are shaping up for this announcement.
Factors at Play
In the last few quarters, LabCorp’s underlying core business put up a stable performance. Within Diagnostics, the company is likely to have generated strong revenue growth in the third quarter of 2019, banking on the following facts:
First, in 2019, the company officially collaborated with Horizon, NJ-based UnitedHealthcare and Aetna (NYSE:AET), placing LabCorp in-network under all major national plans. Ever since, the company has been registering consistent organic growth on the back of these partnerships. The upside is likely to get reflected in the company’s third-quarter results.
Second, the company is expected to have advanced its companion diagnostics and oncology capabilities in the third quarter, backed by the introduction of two new companion diagnostic tests, namely PIK3CA for breast cancer and FGFR for bladder cancer. This, in turn, might have contributed to the company’s upcoming earnings release.
Laboratory Corporation of America Holdings Price and EPS Surprise
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