LabCorp

Q3 Results Q/Q Comparison:

  • Revenue increased 10% to $2.6B
    • LabCorp Diagnostics increased 10% to $1.8B
    • Covance Drug Development increased 9% to $761M
  • GAAP Diluted EPS increased 2% to $1.74
    • Adjusted EPS increased 9% to $2.46
  • Adjusted Operating Income increased 11% to $447M
    • LabCorp Diagnostics increased 9% to $374M
    • Covance Drug Development increased 14% to $109M
  • Adjusted Operating margin of 17.2%, up from 17.0%
    • LabCorp Diagnostics: 20.3%, down from 20.4%
    • Covance Drug Development: 14.3%, down from 13.6%
  • Quarter-end cash of $409M and debt of $7.2B
  • Raised 2017 Guidance:
    • Revenue growth of 8.0% to 8.5% (from 5.0% to 6.5%)
    • Adjusted EPS of $9.40 to $9.60 (from $9.30 to $9.65), a year-over-year increase of 6% to 9%
    • Free cashflow of $970M to $1,010M (up from $925M to $975M)

Stock Price: $153
Market Capitalization: $15.5 billion

October 25, 2017

 

 

 


 


 

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