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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 2020 FIRST QUARTER RESULTS


Q1 revenue of $2.82 billion, up 1% over $2.79 billion last year
Q1 diluted EPS of ($3.27), which include goodwill and other asset impairments of $4.43 per share
Q1 adjusted EPS of $2.37, which were negatively impacted by an estimated $0.55 per share from the COVID-19 pandemic
Q1 free cash flow of $97 million, up 36% over $72 million last year
LabCorp withdraws 2020 guidance and temporarily suspends its share repurchase program due to the unpredictability of the ongoing COVID-19 pandemic
LabCorp maintains a strong liquidity position and expects to deliver solid adjusted EPS and free cash flow in 2020

BURLINGTON, N.C., April 29, 2020LabCorp (or the Company) (NYSE: LH) today announced results for the first quarter ended March 31, 2020.

“First and foremost, we are extremely proud of our dedicated and mission-driven colleagues around the world who are working tirelessly to develop and process COVID-19 diagnostic tests, to generate insights about the virus through innovative partnerships with leading companies like Adaptive Biotechnologies and Microsoft, Ciox Health, and Pacific Biosciences, and to accelerate the development of treatments and vaccines that will aid pandemic preparedness and prevention efforts," said Adam Schechter, president and CEO of LabCorp. "During the quarter we delivered solid performance across the company, especially considering the challenges associated with the COVID-19 pandemic. Looking forward, despite the unpredictability of this health crisis, we are well positioned financially and strategically to continue to serve our customers and drive long-term shareholder value. We stand ready to serve and support patients, and we will continue to do everything we can, as quickly as possible, to support the global response.”




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The following information was filed by Laboratory Corp Of America Holdings (LH) on Wednesday, April 29, 2020 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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