Labcorp Adjusts FY24 Outlook: Cuts Adj. EPS Guidance From $14.45-$15.35 To $14.30-$14.90 Vs. $14.82 Estimate, Raises Revenue Growth Outlook From 4.8%-6.4% To 6.4%-7.5% Vs. $12.83B Estimate
Portfolio Pulse from Benzinga Newsdesk
Labcorp has adjusted its FY24 outlook, cutting its adjusted EPS guidance from $14.45-$15.35 to $14.30-$14.90, which is below the $14.82 estimate. However, the company has raised its revenue growth outlook from 4.8%-6.4% to 6.4%-7.5%, surpassing the $12.83 billion estimate.
August 01, 2024 | 11:16 am
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Labcorp has revised its FY24 outlook, reducing its adjusted EPS guidance to $14.30-$14.90, which is below the $14.82 estimate. However, it has increased its revenue growth outlook to 6.4%-7.5%, exceeding the $12.83 billion estimate.
The reduction in adjusted EPS guidance is a negative signal, indicating potential profitability issues. However, the increase in revenue growth outlook is a positive sign, suggesting stronger sales performance. These mixed signals may result in a neutral short-term impact on the stock price.
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