Labcorp raised its annual profit forecast and reported better-than-expected second-quarter results, driven by steady demand for diagnostic testing and growth in its drug-development services business. The company lifted its 2026 adjusted earnings forecast to a range of $18.10 to $18.55 per share, up from $17.70 to $18.35 previously, with the midpoint of $18.33 exceeding analysts' estimate of $18.01. Annual revenue guidance was also raised to between $14.71 billion and $14.83 billion, compared with the prior range of $14.65 billion to $14.80 billion. Overall second-quarter revenue rose 5.8% to $3.73 billion, above estimates of $3.71 billion, and adjusted earnings per share of $4.99 topped expectations of $4.78. Revenue at the Diagnostics Laboratories segment grew 5.5% to $2.90 billion, slightly below the $2.91 billion estimate, while Biopharma Laboratory Services revenue rose 6.5% to $836.2 million, exceeding estimates of $797.3 million.
Laboratory Corporation of America HoldingsRaised annual profit forecast and beat Q2 estimates on strong testing demand.
Quest Diagnostics Incorporated