Laboratory Corp Q3 Earnings Beat Street View, Investors Overlook Hurricane Helene Impact

Thursday, Laboratory Corp (NYSE:LH) reported third-quarter 2024 adjusted earnings per share of $3.50, up from $3.38 a year ago, beating the consensus of $3.49.

Sales increased 7.4% year-over-year to $3.28 billion, almost in line with the consensus of $3.26 billion.

The increase was due to organic revenue of 4.2%, acquisitions, net of divestitures of 3.1%, and foreign currency translation of 0.1%.

The 4.2% increase in organic revenue was driven by a 4.8% increase in the company's organic Base Business, partially offset by a (0.6%) decrease in COVID-19 testing. 

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Adjusted operating income for the quarter was $441.1 million, or 13.4% of revenue, compared to $423.9 million, or 13.9%, in the third quarter of 2023.

William Blair reported that the operating ...