LabCorp

Q1 Results Q/Q Comparison:

  • Revenue increased 30% to $2.3B
    • LabCorp Diagnostics increased 7% to $1.59B
    • Covance Drug Development increased 13% to $703.1M
  • GAAP Diluted EPS was $1.55, versus $0.04 prior year quarter
    • Adjusted EPS increased 15% to $2.02
  • Adjusted Operating Income increased 24% to $375.5M
    • LabCorp Diagnostics increased 7% to $310.3M
    • Covance Drug Development increased 39% to $103.3M
  • Adjusted Operating margin of 16.4%, up from 15.8%
    • LabCorp Diagnostics: 19.5%, flat
    • Covance Drug Development: 14.7%, up from 11.9%
  • Quarter-end cash of $696M and debt of $6.39B
  • Net debt-to-EBITDA of 3.1x (down from 3.9x prior year quarter)

Raised 2016 Guidance:

  • Revenue growth of 8.5% to 10.5%
  • Adjusted EPS of $8.55 to $8.95 (an increase of 8% to 13%)
  • Free cash flow of $900M to $950M (an increase of 24% to 31%)

Stock Price: $124
Market Capitalization: $12.7 billion

April 25, 2016

 

 

 


 


 

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