Welcome to our dedicated page for Labcorp Holdings news (Ticker: LH), a resource for investors and traders seeking the latest updates and insights on Labcorp Holdings stock.
Labcorp Holdings Inc. (NYSE: LH) is frequently in the news as a global provider of innovative and comprehensive laboratory services. Company announcements highlight activities across diagnostics, oncology, neurology, consumer testing and biopharma laboratory services, giving investors and healthcare professionals insight into how Labcorp is evolving its business and scientific capabilities.
Recent press releases have covered topics such as quarterly financial results, updated full-year guidance and cash dividends on Labcorp’s common stock. These items show how the company communicates its financial performance, capital allocation decisions and participation in investor conferences and healthcare industry events.
Labcorp’s news flow also emphasizes developments in specialty testing. The company has reported on the expansion of its Plasma Detect molecular residual disease portfolio for monitoring recurrence risk in certain breast, lung and colon cancers, and on clinical studies featuring its MRD technology in journals such as Nature Medicine and Clinical Cancer Research. In neurology, Labcorp has announced plans to offer the Elecsys pTau181 blood test, cleared by the U.S. Food and Drug Administration to aid in the initial assessment for Alzheimer’s disease and other causes of cognitive decline.
Other news items describe collaborations and transactions, including agreements to acquire select outreach laboratory assets from health systems, the sale of select early development medical device testing assets to NAMSA, and partnerships that expand access to at-home testing through Labcorp OnDemand. Governance updates, such as board appointments and executive retirements, are also disclosed through company news.
This page aggregates these types of updates, allowing readers to follow Labcorp’s announcements on clinical testing innovations, oncology and neurology offerings, consumer-focused services, strategic partnerships, financial results and corporate governance.
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Labcorp (NYSE: LH) reported its Q1 2023 results, showing a 10% increase in Base Business revenue but a decline in total revenue to $3.8 billion from $3.9 billion last year. Diluted EPS dropped to $2.39 from $5.23, while adjusted EPS fell to $3.82 from $6.11. Free cash flow also decreased significantly to $27 million from $239 million. The company updated its full-year guidance, projecting adjusted EPS between $16.25 and $17.75 and free cash flow of $1.0 billion to $1.2 billion. The planned spin-off of its Clinical Development business, now named Fortrea, is on schedule for mid-2023. Overall, the results were mixed with notable declines in COVID-19 testing impacting revenue.
Labcorp (NYSE: LH) announced a quarterly cash dividend of $0.72 per share, payable on June 8, 2023. Stockholders of record as of the close of business on May 18, 2023 will receive this dividend. This decision underscores Labcorp's commitment to returning value to its shareholders. In FY2022, the company reported revenues of $14.9 billion, highlighting its strong financial performance in the life sciences sector. For more details, visit www.labcorp.com.
Labcorp has partnered with the Conference of National Black Churches to improve access to colorectal cancer screening in high-risk communities. Over 3,000 screening kits will be distributed across cities like Atlanta and Los Angeles. Colorectal cancer disproportionately affects the Black community, with a 20% higher incidence and 40% higher mortality rate compared to other groups. Despite the importance of screening, 62% of respondents in a recent survey have not been screened. Labcorp emphasizes the significance of early detection, offering convenient at-home testing options for patients.
Labcorp (NYSE: LH), a prominent global life sciences firm, will release its financial results for Q1 2023 on April 25, 2023, before the market opens. A conference call and webcast will occur at 9 a.m. ET on the same day to discuss these results. Participants can access the earnings press release and financial information through the Labcorp Investor Relations website. For FY2022, Labcorp reported a revenue of $14.9 billion. The company provides essential diagnostic and drug development insights to healthcare professionals and researchers worldwide.
Ovia Health, a subsidiary of Labcorp, has expanded its digital platform to help women track menopause symptoms. This new functionality aims to provide support and resources for the menopause transition, reaching over 1 million women annually. The Ovia app now includes educational content on treatment options, symptom tracking capabilities, and access to health coaching. This expansion allows Ovia to serve as a comprehensive resource for women's healthcare needs throughout various life stages. The platform enhances existing employer and health plan offerings, aligning with Labcorp's commitment to women's health.
Labcorp (NYSE: LH) reported Q4 2022 revenue of $3.67 billion, a 9.4% decline from $4.06 billion last year, and full-year revenue of $14.88 billion, down 7.7% from $16.12 billion. Diluted EPS fell to $0.86 in Q4, down from $5.75, and for the full year, EPS decreased to $13.97 from $24.39. The company attributed the decline mainly to reduced COVID-19 testing. Adjusted EPS for Q4 was $4.14, down from $6.77. Labcorp launched the Labcorp Plasma Focus liquid biopsy test and approved a $1 billion share repurchase. 2023 guidance includes projected adjusted EPS of $16.00 to $18.00 and free cash flow of $1.0 billion to $1.2 billion.