Labcorp Highlights Strategic Priorities Driving Durable Growth and Shareholder Value at 2026 Investor Day

Labcorp pairs reaffirmed 2026 guidance with 2029 revenue, earnings and margin growth targets built on specialty testing and technology-driven initiatives.

Rhea-AI Summary

Labcorp (LH) is hosting its 2026 Investor Day, reaffirming full‑year 2026 guidance and outlining a long‑term financial outlook through 2029.

For 2026, the company guides to enterprise revenue of $14.71–$14.83 billion, implying 5.4%–6.3% growth over 2025. Diagnostics Laboratories revenue is projected at $11.45–$11.53 billion with 5.3%–6.0% growth, and Biopharma Laboratory Services at $3.27–$3.30 billion with 5.5%–6.5% growth. Adjusted EPS is expected between $18.10 and $18.55, and free cash flow between $1.24 and $1.36 billion.

Through 2029, Labcorp targets compound annual revenue growth of 5%–8%, adjusted EPS growth of 8.5%–11.5%, adjusted operating margin expansion of 75–150 basis points, and free cash flow growth in line with adjusted earnings, supported by four strategic priorities in specialty testing, partnerships, personalized health solutions, and advanced technology.

Positive

• 2026 enterprise revenue guidance $14.71–$14.83 billion, 5.4%–6.3% growth vs. 2025
• Diagnostics 2026 revenue guidance $11.45–$11.53 billion, 5.3%–6.0% growth
• Biopharma 2026 revenue guidance $3.27–$3.30 billion, 5.5%–6.5% growth
• 2026 adjusted EPS guidance $18.10–$18.55
• 2026 free cash flow guidance $1.24–$1.36 billion
• 2029 outlook revenue CAGR 5%–8%, adjusted EPS CAGR 8.5%–11.5%
• 2029 margin goal adjusted operating margin +75–150 bps by end of 2029

Negative

• None.

News Explained

The outlook embeds anticipated capital allocation, while forward-looking adjusted measures lack GAAP reconciliations and may not be directly comparable with other companies’ measures.

At the September 10, 2026 Investor Day, Labcorp is set to present reaffirmed 2026 guidance that incorporates estimated effects from currently anticipated acquisitions, share repurchases and dividends as part of enterprise-level planning.

The release labels adjusted EPS, adjusted operating margin and free cash flow as non-GAAP measures that supplement rather than replace GAAP measures. It also says forward-looking reconciliations are unavailable, estimates could vary materially, and adjusted measures may not be directly comparable across companies.

Market Context

-1.16% was LH's pre-publication 24-hour move, while the Investor Day release reaffirmed guidance and...

Analysis

-1.16% was LH's pre-publication 24-hour move, while the Investor Day release reaffirmed guidance and presented a long-term outlook; the market data reflects the stock's position before the announcement, not a reaction to it.

Key Figures

Long-term revenue growth: 5% to 8% Long-term adjusted EPS growth: 8.5% to 11.5% Operating margin expansion: 75 to 150 basis points +4 more

Long-term revenue growth

5% to 8%

Compound annual growth outlook through 2029

Long-term adjusted EPS growth

8.5% to 11.5%

Compound annual growth outlook through 2029

Operating margin expansion

75 to 150 basis points

By the end of 2029

Enterprise revenue

$14,710 to $14,827

2026 guidance

Enterprise revenue growth

5.4% to 6.3%

2026 guidance

Adjusted EPS

$18.10 to $18.55

2026 guidance

Free cash flow

$1,240 to $1,360

2026 guidance

Key Terms

adjusted earnings per share, adjusted operating margin, free cash flow, gaap, +1 more

5 terms

adjusted earnings per share financial

"compound annual adjusted earnings per share (EPS) growth of 8.5% to 11.5%"

Adjusted Earnings Per Share shows how much profit a company makes for each share of stock, but it removes unusual or one-time items like big expenses or gains. This helps investors see the company's true ongoing performance, making it easier to compare how well different companies are doing over time.

adjusted operating margin financial

"Adjusted operating margin expansion between 75 and 150 basis points"

Adjusted operating margin shows how much profit a company makes from its core business activities, after removing unusual or one-time costs and income. It helps investors see the company's true profitability by providing a clearer picture, similar to removing unexpected expenses to understand the regular performance. This metric is useful for comparing companies or tracking performance over time, as it highlights consistent earning power.

free cash flow financial

"Compound annual free cash flow growth in line with adjusted earnings growth"

Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.

View in glossary

gaap financial

"adjusted financial information that has not been prepared in accordance with GAAP"

GAAP, or Generally Accepted Accounting Principles, are a set of standardized rules and guidelines that companies follow when preparing their financial statements. They ensure consistency, transparency, and comparability across different companies, making it easier for investors to understand and compare financial information accurately. This helps investors make informed decisions based on trustworthy and uniform financial reports.

View in glossary

non-gaap financial measures financial

"The company further believes that the use of these non-GAAP financial measures"

Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.

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• Reaffirms full-year 2026 guidance
• Provides long-term outlook through 2029, with compound annual revenue growth of 5% to 8% and compound annual adjusted earnings per share (EPS) growth of 8.5% to 11.5%
• Outlines strategic growth priorities driven by a differentiated platform powered by science, technology and global scale
• Presents long-term value creation framework driven by sustainable growth, strong cash flow generation and disciplined capital deployment

BURLINGTON, N.C., Sept. 10, 2026 /PRNewswire/ -- Labcorp (NYSE: LH), a global leader of innovative and comprehensive laboratory services, today will host its 2026 Investor Day at 9 a.m. ET, where the company will provide an in-depth review of its growth strategy, innovation roadmap and long-term financial outlook. The event will highlight Labcorp's unique position at the intersection of diagnostics, biopharma, science and technology and how the company is creating long-term value for customers and shareholders.

"Labcorp has never been more relevant than it is today," said Adam Schechter, Chairman and CEO of Labcorp. "The healthcare landscape is being transformed by scientific innovation, personalized medicine and consumer-directed care, and the strengths of Labcorp will help shape the future of healthcare. Labcorp's growth strategy supports our expectation for above-market performance and underpins our long-term outlook through 2029 of compound annual growth of 5% to 8% in revenue and 8.5% to 11.5% in adjusted earnings per share."

Strategic Priorities Focused on High-Growth Areas
At Investor Day, Labcorp will highlight the four strategic priorities that are driving its next phase of growth and strengthening its leadership position across the healthcare ecosystem. These priorities are:

• Leading in specialty testing through continued innovation in oncology, neurology, autoimmune diseases and women's health.
• Being a partner of choice for health systems and leading pharmaceutical companies through differentiated scientific and operational capabilities.
• Driving personalized health solutions using science and insights to help develop therapies, inform therapy selection and deliver tailored experiences at scale.
• Shaping the company's future through advanced technology, including artificial intelligence and robotics.

Long-Term Financial Outlook
In addition to reaffirming its 2026 guidance, Labcorp will discuss its outlook through 2029. Specifically, the company expects to achieve:

• Compound annual revenue growth between 5% and 8%
• Adjusted operating margin expansion between 75 and 150 basis points by the end of 2029
• Compound annual adjusted EPS growth between 8.5% and 11.5%
• Compound annual free cash flow growth in line with adjusted earnings growth

"Our confidence in this outlook is grounded in a proven record of delivering on our commitments and a disciplined value creation framework that converts growth into earnings, cash flow and shareholder returns," said Julia Wang, Executive Vice President and Chief Financial Officer.

Webcast
A live webcast of the event will be available through the Labcorp Investor Relations website beginning at 9 a.m. ET. A replay of the webcast and supporting materials will be available after the conclusion of the event.

Guidance for 2026
Labcorp is affirming 2026 full-year guidance, last updated on July 30, 2026. The following guidance assumes foreign exchange rates effective as of June 30, 2026. Enterprise level guidance includes the estimated impact from currently anticipated capital allocation, including acquisitions, share repurchases, and dividends.

		2026 Guidance
		Low		High
Revenue
Labcorp Enterprise (1)(2)		$14,710		$14,827
Growth (3)		5.4 %		6.3 %
Diagnostics Laboratories		$11,450		$11,532
Growth (3)		5.3 %		6.0 %
Biopharma Laboratory Services (4)		$3,269		$3,300
Growth (3)		5.5 %		6.5 %
Adjusted EPS		$18.10		$18.55
Free Cash Flow		$1,240		$1,360

(1) 2026 Enterprise guidance includes an impact from foreign currency translation of 0.4%.

(2) Enterprise level revenue is presented net of intercompany transaction eliminations.

(3) Growth based on 2025 Enterprise revenue of $13,952 million, Diagnostics Laboratories revenue of $10,876 million, and Biopharma Laboratory Services revenue of $3,098 million.

(4) 2026 Biopharma Laboratory Services guidance includes an impact from foreign currency translation of 1.5%.

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 71,000 employees serve clients in approximately 100 countries, provided support for more than 85% of the new drugs and therapeutic products approved by the FDA in 2025 and performed more than 750 million tests for patients around the world. Learn more at www.labcorp.com.

Use of Adjusted Measures
The company has provided in this press release "adjusted" financial information that has not been prepared in accordance with GAAP, including adjusted EPS (or adjusted net income per share), adjusted operating margin, and free cash flow. Moreover, the company is not able to provide reconciliations of these adjusted measures on a forward-looking basis because it is unable to predict, without unreasonable effort, certain components thereof. As such, any associated estimate and its impact on these measures could vary materially, and the company cannot address the probable significance of unavailable 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.

Non-GAAP adjusted measures should not be considered as an alternative to the corresponding measures prepared in accordance with GAAP, and these adjusted measures may be different from and not directly comparable to the measures presented by other companies.

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 2026 guidance, the long-term financial outlook, and the long-term capital deployment strategy, and related assumptions of each, (ii) the impact of various factors on operating and financial results, including global economic and market conditions, on the company's businesses, operating results, cash flows, and/or financial condition, (iii) current and future offerings, capabilities, and business strategies, including those related to high-growth specialty areas, (iv) expected savings, synergies and other benefits to the company, customers or patients from acquisitions and other transactions, partnerships, company initiatives and investments, (v) the use of technology, including the use of artificial intelligence (AI), and expected operational efficiencies, revenue growth, impacts on customer and patient experience and access, and other benefits from the use of such technologies, and (vi) 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 failure to receive tax-free treatment with respect to the spin-off of the company's former Clinical Development and Commercialization Services business for U.S. federal income purposes; (ii) the impact of spin-off related items; (iii) personnel costs and potential difficulties with employee relations and retention; (iv) the trading price of the company's stock, competitive actions and other unforeseen changes and general uncertainties in the marketplace; (v) the impact of changes to existing or adoption of new laws and regulations applicable to the company, including healthcare reform, or changes to the interpretation and application of such laws and regulations; (vi) customer preferences and purchasing decisions, including changes in payer regulations or policies; (vii) adverse actions of governmental and third-party payers; (viii) changes in testing guidelines or recommendations; (ix) the impact of global geopolitical events; (x) the effect of public opinion on the company's reputation; (xi) adverse results in material litigation matters; (xii) failure to maintain or develop customer relationships; (xiii) the company's ability to develop or acquire new products and adapt to technological changes; (xiv) failures of, or adverse events relating to, the company's information technology systems, programs, or processes or the company's data security; (xv) the impact of potential losses under repurchase agreements; (xvi) adverse weather conditions; (xvii) the number of revenue days in a financial period; (xviii) inflation; (xix) increased competition; and (xx) 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 and subsequent Forms 10-Q, including in each case 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, and subsequent Forms 10-Q, under the heading "MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS".

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SOURCE Labcorp Holdings Inc

FAQ

What strategic priorities did Labcorp highlight as drivers of its next growth phase?

Labcorp highlighted four priorities: leading in specialty testing in areas such as oncology, neurology, autoimmune diseases and women’s health; being a partner of choice for health systems and pharmaceutical companies through differentiated scientific and operational capabilities; driving personalized health solutions that use science and insights to develop therapies, inform therapy selection and deliver tailored experiences at scale; and shaping the company’s future with advanced technology, including artificial intelligence and robotics.

How is the 2026 revenue growth guidance calculated for Labcorp and its segments?

The 2026 growth ranges are based on 2025 revenues of $13,952 million for the enterprise, $10,876 million for Diagnostics Laboratories, and $3,098 million for Biopharma Laboratory Services. Enterprise revenue growth of 5.4%–6.3%, Diagnostics growth of 5.3%–6.0%, and Biopharma growth of 5.5%–6.5% are calculated from these 2025 baselines.

What foreign currency assumptions are embedded in Labcorp’s 2026 guidance?

The 2026 enterprise guidance includes an impact from foreign currency translation of 0.4%, and the 2026 Biopharma Laboratory Services guidance includes a foreign currency translation impact of 1.5%. The outlook assumes foreign exchange rates effective as of June 30, 2026.

How can investors access Labcorp’s 2026 Investor Day presentations?

A live webcast of the 2026 Investor Day is available via the Labcorp Investor Relations website beginning at 9 a.m. ET. A replay of the webcast and supporting materials will be available on the same site after the event concludes.

Which non-GAAP measures does Labcorp use in its outlook, and how does the company position them?

Labcorp uses non-GAAP measures including adjusted EPS, adjusted operating margin, and free cash flow. The company states that it cannot provide forward-looking reconciliations for these measures without unreasonable effort because certain components are unpredictable and could vary materially. Labcorp believes these adjusted measures are useful as supplements to GAAP metrics for evaluating operational performance, trends, growth and shareholder returns, while noting they should not be considered alternatives to GAAP measures and may not be comparable to similarly titled measures from other companies.