Labcorp (LH) Q3 Earnings and Revenues Surpass Estimates

Company Performance - Labcorp reported quarterly earnings of $3.50 per share, exceeding the Zacks Consensus Estimate of $3.48 per share, and up from $3.38 per share a year ago, representing an earnings surprise of 0.57% [1] - The company posted revenues of $3.28 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.64%, and an increase from $3.06 billion year-over-year [1] - Labcorp has consistently surpassed consensus EPS and revenue estimates over the last four quarters [1] Stock Outlook - Labcorp shares have declined approximately 3.3% since the beginning of the year, contrasting with the S&P 500's gain of 21.5% [2] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations and recent changes in these expectations [3] - The current consensus EPS estimate for the upcoming quarter is $3.44 on revenues of $3.3 billion, and for the current fiscal year, it is $14.55 on revenues of $12.96 billion [4] Industry Context - The Medical - Dental Supplies industry, to which Labcorp belongs, is currently ranked in the bottom 44% of over 250 Zacks industries, indicating potential challenges for stock performance [5] - Staar Surgical, another company in the same industry, is expected to report quarterly earnings of $0.19 per share, reflecting a year-over-year decline of 36.7%, with revenues projected at $87.21 million, an increase of 8.6% from the previous year [5]