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. provides laboratory services spanning diagnostics and drug development laboratory capabilities for doctors, hospitals, pharmaceutical companies, researchers and patients. News about LH commonly covers earnings releases and guidance, dividend declarations, specialty and companion diagnostics, oncology testing, drug-screening products, and collaborations that expand access to advanced laboratory services.
Company updates also address Labcorp's Diagnostics Laboratories and Biopharma Laboratory Services activities, including FDA-cleared or FDA-approved tests, pediatric diagnostics development, real-world data platforms, digital pathology and AI-enabled laboratory operations. Recurring announcements connect Labcorp's national diagnostic infrastructure with health systems, biopharmaceutical customers and technology partners.
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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.