LabCorp

Q2 Results Q/Q Comparison:

  • Revenue increased 5% to $2.5B
    • LabCorp Diagnostics increased 8% to $1.8B
    • Covance Drug Development decreased 3% to $700M
  • GAAP Diluted EPS decreased 7% to $1.82
    • Adjusted EPS increased 5% to $2.47
  • Adjusted Operating Income increased 3% to $437M
    • LabCorp Diagnostics increased 6% to $375M
    • Covance Drug Development decreased 12% to $95M
  • Adjusted Operating margin of 17.5%, down from 17.9%
    • LabCorp Diagnostics: 20.8%, down from 21.4%
    • Covance Drug Development: 13.6%, down from 14.9%
  • Quarter-end cash of $300M and debt of $6.1B
  • Raised 2017 Guidance:
    • Revenue growth of 5.0% to 6.5% (from 3.5% to 5.5%)
    • Adjusted EPS of $9.30 to $9.65 (from $9.20 to $9.65), a year-over-year increase of 5% to 9%

Stock Price: $160
Market Capitalization: $16.4 billion

July 26, 2017

 

 

 


 


 

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