LabCorp Lifts 2017 Adj. EPS View

(RTTNews) - Laboratory Corporation of America Holdings (LH) said that it expects adjusted earnings per share for 2017 to be in the range of $9.30 to $9.65, an increase of about 5% to 9% as compared to $8.83 in 2016. This is an increase over the prior guidance of $9.20 to $9.60 due to the Company's favorable results in the second quarter. Analysts polled by Thomson Reuters expect the company to report earnings of $9.43 per share for 2017. Analysts' estimates typically exclude special items.

The company projects 2017 net revenue growth of 5.0% to 6.5% over 2016 net revenue of $9.44 billion, which includes the negative impact from approximately 10 basis points of foreign currency translation. This is an increase over the prior guidance of 3.5% to 5.5%.