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BRIEF-LabCorp reports Q3 adjusted earnings per share of $2.46
October 25, 2017 / 11:10 AM / a month ago

BRIEF-LabCorp reports Q3 adjusted earnings per share of $2.46

Oct 25 (Reuters) - Laboratory Corporation Of America Holdings

* LabCorp announces record third quarter results and increases 2017 guidance

* Q3 adjusted earnings per share $2.46

* Q3 earnings per share $1.74

* Q3 revenue $2.6 billion versus I/B/E/S view $2.55 billion

* Q3 earnings per share view $2.39 -- Thomson Reuters I/B/E/S

* Sees FY 2017 adjusted earnings per share $9.40 to $9.60

* LabCorp - ‍backlog for covance drug development at end of quarter was $6.84 billion, which includes backlog from Chiltern acquisition of $1.0 billion ​

* LabCorp - ‍expects approximately $2.7 billion of backlog in covance drug development to convert into revenue in next twelve months​

* LabCorp - ‍sees 2017 free cash flow increased to $970 million to $1,010 million, up 8% to 13% over 2016​

* LabCorp sees ‍for 2017 net revenue growth of 8.0% to 8.5% over 2016 net revenue of $9.44 billion​

* FY2017 earnings per share view $9.50, revenue view $10.10 billion -- Thomson Reuters I/B/E/S

* LabCorp says “‍revenue growth” in quarter “was negatively impacted by approximately 0.7% due to multiple hurricanes during quarter​” Source text for Eikon: Further company coverage:

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