Labcorp Updates Full-Year Guidance

(RTTNews) - Labcorp (LH) said the company now expects fiscal 2022 adjusted earnings per share in a range of $18.25 to $21.00, revised from prior guidance range of $17.25 to $21.25. The company continues to projects free cash flow in a range of $1.7 to $1.9 billion.

For the first quarter, The company's bottom line totaled $491.6 million, or $5.23 per share compared with $769.6 million, or $7.82 per share, prior year. Excluding items, adjusted earnings was $573.7 million or $6.11 per share for the period. Analysts on average had expected the company to earn $5.98 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.2% to $3.90 billion from $4.16 billion last year.