The company now projects adjusted earnings per share between $18.30 and $18.70, climbing above its previous range of $18.10 to $18.55 and surpassing the $18.35 consensus estimate from FactSet analysts. Revenue growth expectations were similarly adjusted upward to a range of 5.9% to 6.7%, improving upon the prior 5.4% to 6.3% guidance.
In section Market Quotes
Labcorp Shares Climb on Upgraded Annual Outlook
Investors pushed Labcorp Holdings shares up 10% to $365.02 on Wednesday after the company tightened its fiscal forecast. By raising its full-year adjusted earnings and revenue targets, the healthcare provider signaled robust momentum following a third-quarter performance that comfortably outpaced Wall Street projections.
This optimism follows a strong third quarter where Labcorp reported $3.81 billion in revenue, up from $3.6 billion in the same period last year. Adjusted per-share earnings reached $4.78, beating analyst expectations of $4.48. Chief Executive Adam Schechter attributed this growth in part to the launch of specialized diagnostic tests targeting advanced melanoma, Alzheimer's disease, and hepatitis D, which have expanded the company’s clinical footprint. With these latest gains, the stock has now risen 46% year to date.
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