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FOR IMMEDIATE RELEASE
Contact: Clarissa Willett (investors) – 336-436-5076
Investor@LabCorp.com
Pattie Kushner (media) – 336-436-8263
Media@LabCorp.com
LABCORP ANNOUNCES 2019 THIRD QUARTER RESULTS
AND UPDATES 2019 GUIDANCE
• | Q3 revenue of $2.9 billion, up 3.4% over $2.8 billion last year |
• | Q3 diluted EPS of $2.25, down from $3.10 last year, which included the net gain on the disposition of the Food Solutions business of $1.22 per share |
• | Q3 adjusted EPS of $2.90, up 5.8% over $2.74 last year |
• | Q3 free cash flow of $363 million, up 136% over $154 million last year |
• | 2019 adjusted EPS guidance of $11.20 to $11.30, up 2% to 3% over 2018 |
• | 2019 free cash flow guidance of $950 million to $1.05 billion, up 3% to 13% over 2018 |
BURLINGTON, N.C., Oct. 24, 2019 – LabCorp® (or the Company) (NYSE: LH) today announced results for the third quarter ended September 30, 2019, and updated 2019 guidance.
“LabCorp delivered another excellent quarter, with solid results driven by strong demand across both businesses,” said David P. King, chairman and CEO of LabCorp. “The enterprise posted robust gains in revenue and adjusted earnings per share, and we generated $363 million in free cash flow as we continued to weave the two businesses together into a powerful unified whole. We continued our disciplined capital allocation program, repurchasing $100 million of shares and successfully executing several tuck-in acquisitions. Covance excelled across all measures and, despite the market headwinds we are experiencing, Diagnostics turned in another impressive performance. We occupy a unique, differentiated market position in life sciences, giving us great optimism about our opportunity to grow the business and create shareholder value for the rest of 2019 and for many years to come.”
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The following information was filed by Laboratory Corp Of America Holdings (LH) on Thursday, October 24, 2019 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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10-Q Quarterly Report October 2019
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