Labcorp announces q2 earnings per share $2.37

Announces 2020 second quarter results.q2 earnings per share $2.37.q2 revenue $2.8 billion versus refinitiv ibes estimate of $2.5 billion.q2 earnings per share estimate $1.00 -- refinitiv ibes data.q2 adjusted earnings per share $2.57.q2 free cash flow of $272 million, up from $168 million last year.processed more than 8.5 million molecular covid-19 tests to date, increased capacity to about 180 thousand tests per day.qtrly labcorp diagnostics revenue was $1.69 billion, a decrease of (3.9%) from $1.76 billion in q2 2019.quarter-end covance drug development backlog was $11.79 billion compared to $11.30 billion last quarter.continues to not provide 2020 guidance.qtrly covance drug development revenue was $1.09 billion, a decrease of (2.9%) from $1.13 billion in q2 2019.continues to be negatively impacted by covid-19 pandemic, company's outlook has improved across enterprise.in labcorp diagnostics, demand for its base business continues to be below the company's historical levels.co has been resuming regular work schedules, is proceeding with merit adjustments and will retroactively reinstate 401(k) contributions.remains on track to deliver about $200 million of net savings from its 3-year diagnostics launchpad initiative by end of 2021.remains on track to deliver about $150 million of net savings from its 3-year drug development launchpad initiative by end of 2020.
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