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Laboratory Corporation of America Holdings (LH.N)

LH.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Labcorp to acquire Chiltern for $1.2 bln in cash
Monday, 31 Jul 2017 06:00am EDT 

July 31 (Reuters) - Laboratory Corporation Of America Holdings :Labcorp to acquire Chiltern for approximately $1.2 billion in cash, advancing its leadership in drug development.Labcorp - transaction expected to be accretive to Labcorp's adjusted earnings per share and free cash flow in year one.Labcorp - ‍once transaction is complete, Chiltern will become part of Labcorp's covance segment​.Labcorp - deal expected to be accretive to Labcorp's adjusted earnings per share and free cash flow in year one and earn cost of capital by year three​.Labcorp - Acquisition is an all-cash transaction, which labcorp expects to fund with a combination of bank financing and bonds.Labcorp says acquisition is an all-cash transaction.Labcorp says Labcorp expects to fund with a combination of bank financing and bonds.  Full Article

Labcorp Q2 adjusted earnings per share $2.47
Wednesday, 26 Jul 2017 06:57am EDT 

July 26 (Reuters) - Laboratory Corporation Of America Holdings :Labcorp announces record results in the second quarter of 2017 and increases 2017 guidance.Q2 adjusted earnings per share $2.47.Q2 earnings per share $1.82.Q2 revenue $2.5 billion versus I/B/E/S view $2.47 billion.Q2 earnings per share view $2.40 -- Thomson Reuters I/B/E/S.Sees FY 2017 adjusted earnings per share $9.30 to $9.65.Labcorp sees 2017 free cash flow of $925 million to $975 million.Sees 2017 net revenue growth of 5.0% to 6.5% over 2016 net revenue of $9.44 billion.FY2017 earnings per share view $9.43, revenue view $9.86 billion -- Thomson Reuters I/B/E/S.FY2017 earnings per share view $9.43 -- Thomson Reuters I/B/E/S.Labcorp - ‍backlog at end of quarter was $5.53 billion, company expects approximately $2.1 billion of this backlog to convert into revenue in next twelve months​.Labcorp - company remains on track to deliver cost synergies of $100 million related to acquisition of Covance through three-year period ending in 2017.  Full Article

LabCorp, Novant Health extend laboratory services agreement
Tuesday, 11 Jul 2017 08:45am EDT 

July 11 (Reuters) - Laboratory Corporation Of America Holdings ::LabCorp and Novant Health extend laboratory services agreement.LabCorp - ‍under agreement, LabCorp diagnostics provides Novant Health with laboratory management services for all Novant Health Acute Care facilities​.  Full Article

QTS Realty Trust Q1 FFO per share $0.63
Monday, 1 May 2017 04:55pm EDT 

May 1 (Reuters) - Qts Realty Trust Inc :Q1 FFO per share $0.63.Q1 operating FFO per share $0.64.Sees 2017 operating ffo per share in range of $2.64 to $2.76 per share.Sees 2017 capital expenditures, excluding acquisitions, of approximately $325.0 million to $375.0 million.Labcorp says also maintaining its guidance for churn at high end of its historical average of 5-8% for 2017.Labcorp says continues to anticipate in 2017 adjusted ebitda margins to be in line with 2016 adjusted ebitda margins.Q1 FFO per share view $0.61 -- Thomson Reuters I/B/E/S.Fy2017 FFO per share view $2.70 -- Thomson Reuters I/B/E/S.  Full Article

Labcorp says application of the initiative to covance drug development segment will consist of 2 phases
Tuesday, 25 Apr 2017 04:11pm EDT 

April 25 (Reuters) - Laboratory Corporation Of America Holdings ::Labcorp says application of the initiative to covance drug development segment will consist of two phases implemented over three years - sec filing.Labcorp says first phase intended to better align cdd's resources with near-term outlook.Labcorp says in connection with the implementation of the first phase, on april 24, 2017, co committed to carry out a reduction in workforce in 2017.Labcorp says first phase is expected to generate pre-tax savings of about $20 million in 2017 and about $45 million on annualized basis thereafter.Labcorp says second phase will focus on long-term structural changes designed to create a more efficient business model for cdd.  Full Article

Laboratory Corp Of America Q1 adjusted EPS $2.22
Tuesday, 25 Apr 2017 06:56am EDT 

April 25 (Reuters) - Laboratory Corporation Of America Holdings ::Laboratory Corporation Of America Holdings announces 2017 first quarter results and updates 2017 guidance.Q1 adjusted earnings per share $2.22.Q1 earnings per share $1.84.Q1 earnings per share view $2.20 -- Thomson Reuters I/B/E/S.Sees FY 2017 adjusted earnings per share $9.20 to $9.60.Q1 revenue $2.41 billion versus I/B/E/S view $2.41 billion.Sees 2017 net revenue growth of 3.5% to 5.5% over 2016.Labcorp- updated outlook for 2017, net revenue growth of 3.5% to 5.5% over 2016.Fy2017 earnings per share view $9.60, revenue view $9.94 billion -- Thomson Reuters I/B/E/S.Labcorp sees 2017 free cash flow of $925 million to $975 million.Labcorp says backlog at end of quarter was $5.2 billion.Labcorp - company expects approximately $2.1 billion of current backlog to convert into revenue in next twelve months.Labcorp says remains on track to deliver cost synergies of $100 million related to acquisition of Covance through three-year period ending in 2017.Labcorp says company has expanded its launchpad initiative to include covance drug development.Labcorp says initiative will consist of two phases implemented over three years.Labcorp says first phase of initiative is intended to better align covance drug development's resources with its near-term outloo.Labcorp says first phase is expected to generate pre-tax savings of approximately $20 million in 2017.  Full Article

Labcorp's zero coupon convertible subordinated notes due 2021 to accrue contingent interest
Monday, 13 Mar 2017 08:45am EDT 

Laboratory Corporation Of America Holdings : Labcorp's zero coupon convertible subordinated notes due 2021 to accrue contingent interest . Labcorp - for period of March 12, 2017 to Sept 11, 2017, its zero coupon convertible subordinated notes due 2021 will accrue contingent cash interest . Labcorp-Contingent cash interest to be at rate of no less than 0.125% of average market price of zero coupon note for five trading days ended march 8 . Labcorp - contingent cash interest has been determined to be approximately $2.39 per note .Labcorp - payment of contingent cash interest is expected to be made on September 12, 2017.  Full Article

Labcorp to acquire pathology associates medical laboratories from Providence Health & Services and Catholic Health Initiatives
Thursday, 23 Feb 2017 04:30pm EST 

Laboratory Corporation of America Holdings : Labcorp to acquire pathology associates medical laboratories from Providence Health & Services and Catholic Health Initiatives . Labcorp says other terms of transactions were not disclosed .Labcorp says there will be no changes to operations or services at PAML or joint ventures until applicable transaction is complete.  Full Article

Laboratory Corporation Of America Q4 adjusted EPS $2.15
Thursday, 16 Feb 2017 06:58am EST 

Laboratory Corporation Of America Holdings : Laboratory Corporation Of America Holdings announces record 2016 fourth quarter and full year results and provides 2017 guidance . Q4 earnings per share $1.75 . Q4 earnings per share view $2.13 -- Thomson Reuters I/B/E/S . Sees FY 2017 adjusted earnings per share $9.35 to $9.75 . Q4 adjusted earnings per share $2.15 . Q4 revenue $2.4 billion versus I/B/E/S view $2.35 billion . Laboratory Corporation Of America Holdings- 2017 free cash flow guidance of $925 million to $975 million, up 3% to 9% over 2016 . Sees FY 17 net revenue growth of 4.5% to 6.5% over 2016 . Labcorp - on track to deliver cost synergies of $100 million related to acquisition of covance through three-year period ending in 2017 . Laboratory Corporation Of America Holdings - backlog at end of year was $4.9 billion . Laboratory Corporation Of America Holdings - expects approximately $2.0 billion of backlog to convert into revenue in next twelve months .Sees FY 2017 adjusted earnings per share $9.35 to $9.75.  Full Article

Labcorp to acquire assets of Mount Sinai Health System clinical Outreach Laboratories
Tuesday, 10 Jan 2017 08:30am EST 

Laboratory Corporation Of America Holdings : Terms of transaction were not disclosed. . Labcorp to acquire assets of Mount Sinai Health System Clinical Outreach Laboratories .Transaction, which has already received clearance under Hart-Scott-Rodino act expected to close in Q1 of 2017.  Full Article