Labcorp rises after beating Q2 profit and revenue estimates

InVitae

01/08/2024 15:29

** Shares of Labcorp  LH.N  rise as much as 7.7% to an over
six-month high of $232
    ** Lab operator's Q2 adj. EPS of $3.94 beats Wall Street
estimates of $3.78 - LSEG 
    ** Q2 revenue of $3.22 bln tops estimates of $3.19 bln
    ** However, co lowers its annual adj. EPS forecast to $14.30
to $14.90 from $14.45 to $15.35 previously, due to charges
related to its $239 million acquisition of bankrupt genetic test
maker Invitae  NVTAQ.PK 
    ** YTD, stock up 0.7%

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))