Laboratory Corporation Of America Holdings Q2 Profit Decreases, but beats estimates

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

The company's bottom line came in at $358.6 million, or $3.87 per share. This compares with $467.4 million, or $4.76 per share, in last year's second quarter.

Excluding items, Laboratory Corporation Of America Holdings reported adjusted earnings of $459.4 million or $4.96 per share for the period.

Analysts on average had expected the company to earn $4.70 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.6% to $3.70 billion from $3.84 billion last year.

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

-Earnings (Q2): $358.6 Mln. vs. $467.4 Mln. last year. -EPS (Q2): $3.87 vs. $4.76 last year. -Analyst Estimates: $4.70 -Revenue (Q2): $3.70 Bln vs. $3.84 Bln last year.

-Guidance: Full year EPS guidance: $19.00 to $21.25