Labcorp rises after Q4 profit beat

Laboratory of America Holdings

16/02/2023 16:33

** Shares of Laboratory Corp of America Holdings  LH.N  rise
1.6% to $252.20 
   ** The clinical lab operator reports Q4 profit of $4.14 per
share, above analysts' est of $4.10 - Refinitiv
   ** Full-year tax rate that was "a point better than guidance"
led to the EPS beat despite operating miss, says Baird Equity
Research
   ** Company, however, sees COVID testing sales to fall by up
to 90% in 2023
   ** 2023 certainly looks like a transition year for LH - Baird
   ** LH forecasts 2023 adj profit in the range of $16 per share
to $18 per share, vs est $17.65 per share - Refinitiv
   ** Including session moves, stock has fallen ~6.6% in the
past 12 months
 (Reporting by Mariam E Sunny)
 ((Mariam.ESunny@thomsonreuters.com))