Feb 6 (Reuters) - Labcorp ( LH ) forecast 2025 revenue
above Wall Street estimates after reporting fourth-quarter
results beat on Thursday, banking on robust demand for its
diagnostic tests.
Demand for diagnostic tests has grown in recent quarters as
more people, especially older adults, caught up on procedures
after the pandemic.
The company expects annual revenue in the range of $13.88
billion to $14.05 billion, above analysts' average estimate of
$13.8 billion, according to data compiled by LSEG.
It expects its 2025 adjusted profit to be between $15.60 and
$16.40 per share, with its midpoint in line with estimates of
$16.02 per share.
Peer Quest Diagnostics ( DGX ) also beat Wall Street
estimates for fourth-quarter profit and revenue last week,
helped by a robust appetite for its diagnostic tests.
The company's fourth-quarter sales rose 9.8% to $3.33
billion, beating analysts' average estimate of $3.31 billion.
Sales in its smaller biopharma laboratory services unit,
which offers contract research facilities for biopharmaceutical
companies, rose 10.4% to $767 million.
On an adjusted basis, Labcorp ( LH ) posted a profit of $3.45 per
share in the quarter ended December 31, above estimates of
$3.39.