Laboratory Corporation Of America Holdings Q1 Profit Decreases, misses estimates

(RTTNews) - Laboratory Corporation Of America Holdings (LH) released a profit for first quarter that decreased from last year and missed the Street estimates.

The company's earnings totaled $212.9 million, or $2.39 per share. This compares with $491.6 million, or $5.23 per share, in last year's first quarter.

Excluding items, Laboratory Corporation Of America Holdings reported adjusted earnings of $339.9 million or $3.82 per share for the period.

Analysts on average had expected the company to earn $3.96 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.1% to $3.78 billion from $3.90 billion last year.

Laboratory Corporation Of America Holdings earnings at a glance (GAAP) :

-Earnings (Q1): $212.9 Mln. vs. $491.6 Mln. last year. -EPS (Q1): $2.39 vs. $5.23 last year. -Analyst Estimates: $3.96 -Revenue (Q1): $3.78 Bln vs. $3.90 Bln last year.

-Guidance: Full year EPS guidance: $16.25 - $17.75