Laboratory Corporation Of America Holdings Q3 Profit Decreases, but beats estimates

(RTTNews) - Laboratory Corporation Of America Holdings (LH) released a profit for third quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $352.8M, or $3.90 per share. This compares with $587.3 million, or $6.05 per share, in last year's third quarter.

Excluding items, Laboratory Corporation Of America Holdings reported adjusted earnings of $424.2M or $4.68 per share for the period.

Analysts on average had expected the company to earn $4.67 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 11.2% to $3.606 billion from $4.062 billion last year.

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

-Earnings (Q3): $352.8M. vs. $587.3 Mln. last year. -EPS (Q3): $3.90 vs. $6.05 last year. -Analyst Estimates: $4.67 -Revenue (Q3): $3.606 Bln vs. $4.062 Bln last year.

-Guidance: Full year EPS guidance: $19.25 to $20.25