Labcorp Q1 adj EPS $3.68 vs $3.46 YoY; raises FY guidance midpoint

LABCORP HOLDINGS INC.

2024-Q1 EPS reported $2.69 revenue$3,176,600,000

Revenue $3.18B (+4.6% YoY); organic base business grew 6.7%.
Diluted EPS $2.69 vs $2.34; adjusted EPS $3.68 vs $3.46.
FY2024 adjusted EPS guidance raised to $14.45-$15.35 (prev $14.30-$15.40); FCF reaffirmed $1.0-$1.15B.
Acquisitions: selected Invitae assets, agreed to buy BioReference Health diagnostic assets, closed three deals including Baystate Health and Providence.
New holding company structure May 17; Labcorp Holdings Inc. replaces Labcorp as public entity; ticker LH unchanged; $0.72 dividend payable June 12.

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 first quarter ended March 31, 2024 results: revenue $3.18 billion, net income $228.3 million, EPS $2.69. Guidance raised.

Period: first quarter ended March 31, 2024
Revenue: $3.18 billion
Net income: $228.3 million
EPS: $2.69
Guidance: raised
Result: reported results

Exact text from the filing

Labcorp Announces 2024 First Quarter Results Updates Full-Year Guidance • Results from Continuing Operations for first quarter 2024 versus last year: ◦ Revenue: $3.18 billion versus $3.04 billion or up 4.6% | Base Business grew 6.7% ◦ Diluted EPS: $2.69 versus $2.34 ◦ Adjusted EPS: $3.68 versus $3.46 • Full-Year 2024 Guidance: Raised midpoint and

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Source: SEC EDGAR

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