Labcorp Holdings Inc Stock Price, News & Analysis

Labcorp (NYSE: LH) reported third-quarter 2022 revenue of $3.61 billion, down 11.2% year-over-year, with diluted EPS at $3.90, a decline from $6.05 in Q3 2021. Adjusted EPS was $4.68 versus $6.82 last year. The company continues to face headwinds from reduced COVID-19 testing, which fell 11.8%. Operating income decreased to $469.4 million, 13% of revenue. Labcorp is progressing on a clinical development spin-off and established a long-term relationship with Ascension, enhancing its diagnostic capabilities. Updated guidance suggests revenue may decline further, particularly in COVID-19 testing.

Labcorp (NYSE: LH) has appointed Kirsten Kliphouse, president of Americas at Google Cloud, to its Board of Directors. Kliphouse, who brings extensive experience from technology giants like Microsoft and Red Hat, aims to enhance Labcorp's innovative strategies through technology. CEO Adam Schechter expressed confidence that her expertise will provide valuable insights and perspectives. Labcorp, a leader in life sciences, reported revenues of $16 billion in FY2021 and employs over 75,000 staff, serving clients in over 100 countries.

Labcorp (NYSE: LH) has declared a cash dividend of $0.72 per share, payable on December 9, 2022, to stockholders of record by the close of business on November 17, 2022. This announcement highlights the company's commitment to returning value to its shareholders. Labcorp operates globally, providing critical information for healthcare decisions and generating $16 billion in revenue for FY2021. The company boasts a workforce of over 75,000 employees, serving clients in more than 100 countries.

Labcorp (NYSE: LH) has finalized a long-term laboratory partnership with Ascension, a major non-profit health system in the U.S. This strategic collaboration includes Labcorp acquiring select assets from Ascension's outreach laboratory business and managing its hospital-based laboratories across several states, including Alabama, Florida, and Texas. The partnership enhances community access to Labcorp's clinical services, including advanced diagnostics and at-home test collection.

Labcorp (NYSE: LH) will release its third quarter 2022 financial results on October 27, 2022, before market opening. A conference call and webcast will begin at 9 a.m. ET to discuss the earnings. The results will be available on the Labcorp Investor Relations website. Labcorp, a leading global life sciences firm, reported a revenue of $16 billion in FY2021, providing valuable insights for healthcare decisions across multiple sectors.

Labcorp (NYSE: LH) has announced that its executive management team will participate in a fireside chat at the Baird 2022 Global Healthcare Conference on September 13 at 9:05 a.m. ET. A live webcast will be available on the Labcorp Investor Relations website and archived for replay. Labcorp is a leading global life sciences company, providing critical information for healthcare decision-making, with over 75,000 employees and $16 billion revenue in FY2021.

Labcorp (NYSE: LH) has completed the acquisition of RWJBarnabas Health’s outreach laboratory business, enhancing its presence in New Jersey. This strategic move aims to improve access to laboratory services for patients and physicians, offering a broader test menu and reduced out-of-pocket costs. Labcorp will leverage its extensive network, including patient service centers, and provide enhanced service to underserved areas. The financial specifics of the transaction remain undisclosed.

BD (Becton, Dickinson and Company) has entered into a collaboration with Labcorp to develop flow cytometry-based companion diagnostics (CDx) aimed at improving cancer treatment outcomes. This strategic partnership combines BD's expertise in flow cytometry with Labcorp's strengths in diagnostics and drug development, creating a comprehensive solution for the pharmaceutical industry. The collaboration will facilitate the development and commercialization of CDx, enhancing patient access to personalized therapies.

Labcorp (NYSE: LH) reported Q2 revenue of $3.7 billion, a 3.7% decline from last year, with diluted EPS at $3.87 compared to $4.76. Adjusted EPS also fell to $4.96 from $6.13. The company announced plans to spin off its Clinical Development business, targeting completion in H2 2023. Free cash flow improved to $429 million from $390 million in the previous year. Full-year adjusted EPS guidance was raised to $19.00 - $21.25. Significant investments in innovative diagnostics were made, addressing various health conditions.