Laboratory Corporation Of America Holdings Q2 Profit Decreases, misses estimates

(RTTNews) - Laboratory Corporation Of America Holdings (LH) announced earnings for second quarter that decreased from last year and missed the Street estimates.

The company's bottom line came in at $188.9 million, or $2.12 per share. This compares with $358.6 million, or $3.87 per share, in last year's second quarter.

Excluding items, Laboratory Corporation Of America Holdings reported adjusted earnings of $304.2 million or $3.42 per share for the period.

Analysts on average had expected the company to earn $3.47 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.8% to $3.033 billion from $2.923 billion last year.

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

-Earnings (Q2): $188.9 Mln. vs. $358.6 Mln. last year. -EPS (Q2): $2.12 vs. $3.87 last year. -Analyst Estimates: $3.47 -Revenue (Q2): $3.033 Bln vs. $2.923 Bln last year.

-Guidance: Full year EPS guidance: $13 to $14