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(Reuters) - Labcorp 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 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 posted a profit of $3.45 per share in the quarter ended December 31, above estimates of $3.39. (Reporting by Puyaan Singh in Bengaluru; Editing by Vijay Kishore) View Comments
Labcorp forecasts 2025 revenue above estimates on diagnostic test demand
February 06, 2025 11:55 AM GMT | By EODHD
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