LabCorp

Q4 Results Q/Q Comparison:

  • Revenue increased 6% to $2.4B
    • LabCorp Diagnostics increased 8% to $1.67B
    • Covance Drug Development increased 4% to $716M
  • GAAP Diluted EPS increased 63% to $1.75
    • Adjusted EPS increased 9% to $2.15
  • Adjusted Operating Income increased 6% to $388M
    • LabCorp Diagnostics increased 9% to $318M
    • Covance Drug Development decreased 3% to $107M
  • Adjusted Operating margin of 16.2%, down from 16.4%
    • LabCorp Diagnostics: 19.0%, up from 18.8%
    • Covance Drug Development: 14.9%, down from 16.0%

Full-year 2016 Results:

  • Revenue increased 11% to $9.4B
    • LabCorp Diagnostics increased 5% to $6.21B
    • Covance Drug Development increased 1% to $2.63B
  • GAAP Diluted EPS increased 61% to $7.02
    • Adjusted EPS increased 12% to $8.83
  • Adjusted Operating Income increased 8% to $1.59B
    • LabCorp Diagnostics increased 7% to $1.32B
    • Covance Drug Development increased 11% to $413M
  • Adjusted Operating margin of 16.9%, up from 16.6%
    • LabCorp Diagnostics: 20.1%, up from 19.9%
    • Covance Drug Development: 14.5%, up from 14.1%
  • Free cashflow increased 23% to $897M
  • Year-end cash of $434M and debt of $5.48B
  • Reinitiated buyback program

2017 Guidance:

  • Revenue growth of 4.5% to 6.5% (constant currency 5.1% to 7.1%)
  • Adjusted EPS of $9.35 to $9.75 (an increase of 6% to 10%)
  • Free cash flow of $925M to $975M (an increase of 3% to 9%)

Stock Price: $139
Market Capitalization: $14.3 billion

February 16, 2017

 

 

 


 


 

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