1 day Ago
Updates Full-Year Guidance Results from Operations for first quarter 2025 versus first quarter last year: Revenue: $3.35 billion versus $3.18 billion Diluted EPS: $2.
52 versus $2.69 Adjusted EPS: $3.84 versus $3.
68 Reaffirmed Revenue and Free Cash Flow guidance, raised midpoint of adjusted EPS: Revenue guidance of 6.7% to 8.0% Adjusted EPS range of $15.
70 to $16.40 ; midpoint raised $0.05 Free Cash Flow of $1.
10 billion to $1.25 billion Providing broader access to comprehensive testing and laboratory services with several transactions announced/completed year-to-date Introduced new tests including Labcorp Plasma Complete, a liquid biopsy test for cancer, and pTau-217/Beta Amyloid 42 Ratio test to aid in the diagnosis of Alzheimer's disease BURLINGTON, N.C.
, April 29, 2025 /PRNewswire/ -- Labcorp (NYSE: LH ), a global leader of innovative and comprehensive laboratory services, today announced results for the first quarter ended March 31, 2025 and updated full-year guidance. "Labcorp delivered solid performance in the first quarter of 2025," said Adam Schechter , chairman and CEO of Labcorp. "While the macroeconomic environment remains dynamic, the critical nature of the work we do in diagnostics and drug development positions us well for success in 2025 and beyond.
We continue to progress our pipeline of attractive acquisitions and partnerships and further expand our test menu in four strategic areas, including oncology, women's health, autoimmune disease and neurology." In the first quarter, Labcorp advanced its position as a partner of choice for hospitals, health systems and regional/local laboratories: Entered into a strategic collaboration with New Jersey -based Inspira Health to manage operations of hospital laboratories and to serve as the primary lab for their physician network. Agreed to acquire select assets of BioReference Health's innovative oncology and related clinical testing services businesses.
Completed the acquisition of select assets of North Mississippi Health Services' ambulatory outreach laboratory business and became a referral laboratory for its seven hospitals and clinic laboratories. Labcorp also continued to incorporate the power of science, innovation and advanced technology across the organization during or subsequent to the quarter: Introduced Labcorp® Plasma Complete, a groundbreaking liquid biopsy test to aid in personalized cancer treatment decisions. Introduced HPV and STI self-collection options in Labcorp patient service centers and physician offices.
Launched pTau-217/Beta Amyloid 42 Ratio test, a new blood-based biomarker test to aid in the diagnosis of Alzheimer's disease. Expanded Labcorp OnDemand test menu with new offerings to help consumers manage their health and well-being. Launched eClaim Assist, a next-generation digital platform that introduces smarter workflows to improve efficiencies in billing, payer alignment and denials.
On April 10, 2025 , Labcorp announced a quarterly cash dividend of $0.72 per share of common stock, payable on June 11, 2025 , to stockholders of record at the close of business on May 29, 2025 . On April 15, 2025 , Labcorp issued its 2024 Corporate Responsibility Report.
The report demonstrates how the company is pursuing a healthier future as it advances its mission to improve health and improve lives. Capital Allocation Summary At the end of the quarter, Labcorp's cash and cash equivalents balance was $0.37 billion and total debt was $5.
57 billion . During the quarter, the company invested $210.5 million in acquisitions and partnerships and paid out $61.
6 million in dividends. Guidance for 2025 Labcorp is updating 2025 full year guidance to reflect its first quarter performance and full year outlook. The following guidance assumes foreign exchange rates effective as of March 31, 2025 , for the remainder of the year.
Enterprise level guidance includes the estimated impact from currently anticipated capital allocation, including acquisitions, share repurchases and dividends. Use of Adjusted Measures The company has provided in this press release and accompanying tables "adjusted" financial information that has not been prepared in accordance with GAAP, including adjusted net income, adjusted EPS (or adjusted net income per share), adjusted operating income, adjusted operating margin, free cash flow, and certain segment information. The company believes these adjusted measures are useful to investors as a supplement to, but not as a substitute for, GAAP measures, in evaluating the company's operational performance.
The company further believes that the use of these non-GAAP financial measures provides an additional tool for investors in evaluating operating results and trends, and growth and shareholder returns, as well as in comparing the company's financial results with the financial results of other companies. However, the company notes that these adjusted measures may be different from and not directly comparable to the measures presented by other companies. Reconciliations of these non-GAAP measures to the most comparable GAAP measures and an identification of the components that comprise "special items" used for certain adjusted financial information are included in the tables accompanying this press release.
The company today is providing an investor relations presentation with additional information on its business and operations, which is available in the investor relations section of the company's website at www.Labcorp.com .
Analysts and investors are directed to the website to review this supplemental information. A conference call discussing Labcorp's quarterly results will be held today at 9:00 a.m.
ET and is available by registering at this link , which will provide a dial-in number and unique PIN to access the call. It is recommended that participants join 10 minutes prior to the start of the call, although participants may register and join at any time during the call. A live webcast of Labcorp's quarterly conference call on April 29, 2025, will be available at the Labcorp Investor Relations website beginning at 9:00 a.
m. ET . This webcast will be archived and accessible through April 16, 2026 .
About Labcorp Labcorp (NYSE: LH ) is a global leader of innovative and comprehensive laboratory services that helps doctors, hospitals, pharmaceutical companies, researchers and patients make clear and confident decisions. We provide insights and advance science to improve health and improve lives through our unparalleled diagnostics and drug development laboratory capabilities. The company's nearly 70,000 employees serve clients in approximately 100 countries, provided support for 75% of the new drugs and therapeutic products approved in 2024 by the FDA, and performed more than 700 million tests annually for patients around the world.
Learn more about us at www.labcorp.com .
Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements, including, but not limited to, statements with respect to (i) the estimated 2025 guidance and related assumptions, (ii) the impact of various factors on operating and financial results, including the projected impact of global economic and market conditions on the company's businesses, operating results, cash flows and/or financial condition, (iii) future business strategies, (iv) expected savings, synergies and other benefits to the Company, customers or patients from acquisitions and other transactions and partnerships, and (v) opportunities for future growth. Each of the forward-looking statements is subject to change based on various important factors, many of which are beyond the company's control, including without limitation: (i) the effect of the holding company reorganization on the company's business generally; (ii) the failure to receive tax-free treatment with respect to the spin-off of the company's Clinical Development and Commercialization Services business, now Fortrea Holdings Inc. for U.
S. federal income purposes; (iii) the impact of spin-off related items; (iv) personnel costs and potential difficulties with employee relations and retention; (v) the trading price of the company's stock, competitive actions and other unforeseen changes and general uncertainties in the marketplace; (vi) changes in government regulations, including healthcare reform; (vii) customer purchasing decisions, including changes in payer regulations or policies; (viii) adverse actions of governmental and third-party payers; (ix) changes in testing guidelines or recommendations; (x) the volume of COVID-19 Testing performed by the company; (xi) the impact of global geopolitical events; (xii) the effect of public opinion on the company's reputation; (xiii) adverse results in material litigation matters; (xiv) changes in laws and regulations applicable to the company, including healthcare reform, and changes to their interpretation and application and the impact of any such changes; (xv) failure to maintain or develop customer relationships; (xvi) the company's ability to develop or acquire new products and adapt to technological changes; (xvii) failure of the company's information technology, systems, or data security; (xviii) the impact of potential losses under repurchase agreements; (xix) adverse weather conditions; (xx) the number of revenue days in a financial period; (xxi) inflation; (xxii) increased competition; and (xxiii) the effect of exchange rate fluctuations. These factors, in some cases, have affected and in the future (together with other factors) could affect the company's ability to implement the company's business strategy, and actual results could differ materially from those suggested by these forward-looking statements.
As a result, readers are cautioned not to place undue reliance on any of the forward-looking statements. The company has no obligation to provide any updates to these forward-looking statements even if its expectations change. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.
Further information on potential factors, risks and uncertainties that could affect operating and financial results is included in the company's most recent Annual Report on Form 10-K under the heading RISK FACTORS and in the company's other filings with the SEC. The information in this press release should be read in conjunction with a review of the company's filings with the SEC including the information in the company's most recent Annual Report on Form 10-K under the heading "MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS". - End of Text - - Tables to Follow - The consolidated revenue and adjusted segment operating income are presented net of intersegment transaction eliminations and other amounts not used in determining segment performance.
Adjusted operating income and adjusted operating margin are non-GAAP measures. See the subsequent reconciliation of non-GAAP financial measures. SOURCE Labcorp Holdings Inc.
