Labcorp Raises Annual Profit Forecast Amid Strong Testing Demand
Laboratory operator LabCorp raised its full-year profit forecast for 2026, citing strong demand in diagnostic testing and growth in drug-development services. The company reported second-quarter results that exceeded expectations with adjusted earnings per share of $4.99 against estimates of $4.78. Revenue rose to $3.73 billion from $3.71 billion expected, driven by a 5.8% increase overall. Despite the positive financial performance and raised guidance for annual adjusted EPS between $18.10 and $18.55 per share (up from $17.70 to $18.35), LabCorp's shares fell about 6% in premarket trading, possibly due to investor concerns over softer-than-expected organic growth in its Diagnostics Laboratories segment compared with rival Quest Diagnostics' recent results.
Tickers: $DGX
Topics: diagnostic testing pharmaceutical services profit forecast