Labcorp beats quarterly profit estimates on strength in routine testing segment

Laboratory Corporation of America (LH.N) topped Wall Street expectations for quarterly adjusted profit on Thursday, as strength in its routine diagnostics business more than offset weak COVID test sales.

U.S. lab testing companies including Labcorp rival Quest Diagnostics (DGX.N) have seen a rebound in routine test volumes with people returning for regular health checkups that had been deferred during the pandemic.