secwatch.observer — SEC 8-K summary
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Issuer:     LABCORP HOLDINGS INC. (LH)
CIK:        0000920148
Form:       8-K
Filed at:   2023-07-27T23:59:59+00:00
Accession:  0000920148-23-000058
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Labcorp Q2 revenue $3.03B (+4% YoY); adjusted EPS $3.42 vs $4.04; completes Fortrea spin-off, launches $1B buyback
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- Revenue from continuing ops $3.03B (+3.8% YoY); Base Business organic revenue +9.8% while COVID-19 testing declined -7.8% pts.
- Diluted GAAP EPS $1.74 (down from $2.89); adjusted EPS $3.42 (down from $4.04); full-year adjusted EPS guidance $13.00-$14.00.
- Completed spin-off of Fortrea on June 30; Fortrea distributed ~$1.6B cash; Labcorp announced $1.0B accelerated share repurchase.
- New partnerships: lab agreement with Jefferson Health; acquisition of Providence Oregon outreach lab; Legacy Health inpatient lab management.
- Q2 free cash flow $177M vs $408M; FY 2023 free cash flow guidance $0.8B-$1.0B; quarterly dividend $0.72/share payable Sept 8.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/920148/000092014823000058/0000920148-23-000058-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/920148/000092014823000058/lh-20230727.htm
  HTML page:      https://secwatch.observer/filing/0000920148-23-000058

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