secwatch.observer — SEC 8-K summary
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Issuer:     LABCORP HOLDINGS INC. (LH)
CIK:        0000920148
Form:       8-K
Filed at:   2023-04-25T23:59:59+00:00
Accession:  0000920148-23-000023
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Labcorp Q1 revenue down 3.1% to $3.78B; adj EPS $3.82 vs $6.11; guides FY adj EPS $16.25-$17.75
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- Q1 revenue $3.78B vs $3.90B prior year; Base Business organic growth +7.9% offset by COVID-19 Testing decline -11.6%.
- Diluted EPS $2.39, adjusted EPS $3.82; prior year $5.23 and $6.11 respectively; free cash flow $27M vs $239M.
- FY2023 guidance: adjusted EPS narrowed to $16.25-$17.75 (midpoint unchanged), free cash flow $1.0B-$1.2B.
- Diagnostics adj op income $441.5M (18.5% margin) down from $683.1M (27.8%); Drug Development adj op income $123.9M (8.8%) down from $168.6M (11.6%).
- Spin of Clinical Development (Fortrea) on track for mid-2023; quarterly dividend $0.72/share payable June 8, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/920148/000092014823000023/0000920148-23-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/920148/000092014823000023/lh-20230425.htm
  HTML page:      https://secwatch.observer/filing/0000920148-23-000023

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer