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Effective January 1, 2018, the Company adopted the new revenue recognition accounting standard (ASC 606) and restated financial results for 2016 and 2017. Unless otherwise indicated, all financial results in 2017 and comparisons to financial results in 2017 have been restated in these bullets and this press release as if the Company had adopted ASC 606 on January 1, 2017. See “Adoption of ASC 606” below for additional details
Q1 revenue of $2.8 billion, up 18% over $2.4 billion last year
Q1 diluted EPS of $1.67, down 5% from $1.75 last year; Q1 adjusted EPS of $2.78, up 31% over $2.13 last year
2018 adjusted EPS guidance of $11.30 to $11.70, unchanged from prior guidance, but now includes the projected negative impact from ASC 606 of approximately $0.20 to $0.30 per share for the full year 2018
2018 free cash flow guidance of $1.1 billion to $1.2 billion, unchanged from prior guidance
Board authorized an increase in the Company’s total share repurchase program to a total of $1.0 billion
The following information was filed by Laboratory Corp Of America Holdings (LH) on Wednesday, April 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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