LabCorp

Q2 Results Q/Q Comparison:

  • Revenue increased 7% to $2.4B
    • LabCorp Diagnostics increased 5% to $1.66B
    • Covance Drug Development increased 12% to $722M
  • GAAP Diluted EPS increased 15% to $1.91
    • Adjusted EPS increased 11% to $2.31
  • Adjusted Operating Income increased 9% to $426.7M
    • LabCorp Diagnostics increased 6% to $356.5M
    • Covance Drug Development increased 20% to $107.7M
  • Adjusted Operating margin of 17.9%, up from 17.6%
    • LabCorp Diagnostics: 21.5%, up from 21.4%
    • Covance Drug Development: 14.9%, up from 14.0%
  • Quarter-end cash of $640M and debt of $6.06B
  • Net debt-to-EBITDA of 3.3x

Raised 2016 Guidance:

  • Revenue growth of 9.5% to 10.5% (from 8.5% to 10.5%)
  • Adj. EPS of $8.60 to $8.95 (from $8.55 to $8.95), a year-over-year increase of 9% to 13%

Stock Price: $138
Market Capitalization: $14.1 billion

July 27, 2016

 

 

 


 


 

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