Laboratory Corporation of America Holdings (LabCorp) announced its first-quarter 2022 adjusted earnings per share at $6.11, but this represents a significant 30.5% decrease compared to the same period last year. The company reported revenues of $3.89 billion, falling short of the Zacks Consensus Estimate by 3.5% and down 6.3% year-over-year. With expectations of continued declines in sales due to reduced COVID-19 testing demand, LabCorp's shares fell 4.3%, raising concerns among investors despite a solid cash reserve of $1.23 billion.
“Laboratory Corporation of America Holdings · reported · first-quarter 2022 adjusted earnings per share · $6.11”
“Laboratory Corporation of America Holdings · registered a fall · year-ago quarter figure of adjusted earnings per share · 30.5%”
“LabCorp Diagnostics reported revenues · of · $2.45 billion”
“LabCorp exited the first quarter of 2022 with cash and cash equivalents · of · $1.23 billion”
“LabCorp · expected sales performance · decline due to COVID-19 testing”
“LabCorp · first-quarter revenues estimate · $4.04 billion”
“Laboratory Corporation of America Holdings · reported · first-quarter 2022 adjusted earnings per share (EPS) · $6.11”
“Laboratory Corporation of America Holdings · registered · fall in adjusted EPS · 30.5%”
“Laboratory Corporation of America Holdings · reported · first quarter net earnings · $5.23 per share”
“Laboratory Corporation of America Holdings · experienced · fall in revenues · 6.3% year over year”
“Laboratory Corporation of America Holdings · missed · Zacks Consensus Estimate for revenues · 3.5%”
“Laboratory Corporation of America Holdings · reported · first quarter revenues · $3.89 billion”