Labcorp Holdings falls after quarterly sales miss estimates

Shares of laboratory services provider Labcorp Holdings LH.N fall 4.2% to $220.08

Co posts Q1 revenue of $3.35 billion, missing analysts' estimate of $3.40 billion, according to data compiled by LSEG

However, co reports Q1 adj. profit of $3.84 per share, beating analysts' estimate of $3.74 per share

Co's diagnostic laboratories business grew 6% to $2.63 billion in the quarter

Co raises lower end of its 2025 profit forecast to $15.70 per share from $15.60 previously, maintains upper end at $16.40 per share

"While the macroeconomic environment remains dynamic, the critical nature of the work we do in diagnostics and drug development positions us well for success in 2025 and beyond," says CEO Adam Schechter

As of last close, LH had risen 0.12% YTD