Sonic Healthcare (ASX:SHL) September quarter earnings up 71%

Company News

by Anna Napoli

Sonic Healthcare’s (ASX:SHL) revenue rose 29 per cent to $2.14 billion in the September quarter compared to the same time last year as the company benefited from a surge in COVID-19 testing.

The diagnostics provider's earnings (EBITDA) grew 71 per cent to $580 million.

The company says the majority of its divisions grew base business (excluding COVID-19 testing) revenues during the quarter, and cost savings initiatives that were adopted during the early days of the pandemic continue to provide benefits to earnings and margins.

The company also says It remains uncertain how long the current revenue growth rates will continue, with both base business and COVID-19 testing volumes potentially fluctuating in different markets as the pandemic evolves.

Shares in Sonic Healthcare (ASX:SHL) are trading 1.7 per cent higher at 35.30.