Laboratory Corp. of America Beats Estimates (LH)

Burlington, North Carolina-based Laboratory Corporation of America LH on Thursday morning released financial results that beat Wall Street expectations. Laboratory Corporation of America reported that its 4th quarter net earnings fell to $131.8 million, or $1.26 per share, down from $142.7 million, or $1.33 per share, a year earlier. Excluding special items, the company earned $1.34 per share. Laboratory Corporation of America reported revenue of $1.3 billion, up 11.2% from $1.17 billion a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of $1.31 per share, on revenue of $1.25 billion. Laboratory Corporation of America (LH) ended the previous trading session at $90.74 per share. Analysts covering the company's stock have a consensus price target of $92.47 per share. Laboratory Corporation of America, an S&P 500 company, is a pioneer in commercializing new diagnostic technologies and the first in its industry to embrace genomic testing. Read more from Benzinga's Company news.