![LABORATORY CORP OF AMERICA HOLDINGS [LH] reports quarterly net loss of $228.3 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FLH.png&w=1200&q=75)
LABORATORY CORP OF AMERICA HOLDINGS [LH] has reported a net loss of $228.3 million for quarter ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the quarter was $3.2 billion
Based in BURLINGTON, North Carolina, LABORATORY CORP OF AMERICA HOLDINGS operates in the SERVICES sector.
In the financial comparison for the quarter ended March 31, 2024, and the same period in 2023, the following key metrics were observed:
- Revenues for the current quarter were $3,176.6 million, showing an increase from the previous period's revenue of $3,037.8 million.
- Cost of Revenue was recorded at $2,279.3 million in the current quarter, compared to $2,187.7 million in the previous period.
- Gross Profit stood at $897.3 million for the current quarter, up from $850.1 million in the same period last year.
- Operating Income (Loss) for the current quarter was $321.3 million, a decrease from $329.8 million in the previous year.
- Net Income for the current quarter amounted to $228.3 million, higher than the $213.3 million reported in the same period last year.
- Earnings per share for Basic Share in the current quarter were $2.71, an increase from $2.41 in the previous period.
- Diluted earnings per common share for the current quarter were $2.69, compared to $2.39 in the same period in 2023.
Overall, the company showed growth in revenue and net income, with improved earnings per share for the quarter ended March 31, 2024, when compared to the results of the corresponding period in 2023.
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