Labcorp Q3 revenue up 6.6% to $3.06B; adjusted EPS $3.38 vs $4.01 YoY; narrows full-year guidance

LABCORP HOLDINGS INC.

2023-Q3 EPS reported $6.63 revenue$9,128,300,000

Q3 revenue $3.06B (+6.6% YoY); Base Business revenue grew 14.0% YoY, partially offset by lower COVID-19 testing.
GAAP diluted EPS $2.11 vs $3.06 YoY; adjusted EPS $3.38 vs $4.01 YoY.
Updated FY2023 guidance: adjusted EPS $13.25-$13.75 (midpoint unchanged), FCF $0.85-$0.95B excluding spin items.
Signed multiple hospital lab agreements including Tufts Medicine, Providence Health, Legacy Health, and Baystate Health.
Launched ATN Profile, a blood-based test combining three biomarkers to aid Alzheimer's diagnosis.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

LABCORP HOLDINGS INC. reported the third quarter ended September 30, 2023 results: revenue $3.06 billion, net income $183.6 million, EPS $2.11. Guidance reaffirmed.

Period: the third quarter ended September 30, 2023
Revenue: $3.06 billion
Net income: $183.6 million
EPS: $2.11
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Guidance • Third quarter revenue grew 6.6% versus last year as the Base Business grew 14.0%. Results from Continuing Operations for third quarter versus last year: ◦ Revenue: $3.06 billion versus $2.87 billion ◦ Diluted EPS: $2.11 versus $3.06 ◦ Adjusted EPS: $3.38 versus $4.01 ◦ Free Cash Flow: $170.6 million versus $170.2 million • Full-Year 2023 Guidance from

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Source: SEC EDGAR

accession 0000920148-23-000078

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