LabCorp

Q3 Results Q/Q Comparison:

  • Revenue increased 5% to $2.4B
    • LabCorp Diagnostics increased 4% to $1.67B
    • Covance Drug Development increased 5% to $701M
  • GAAP Diluted EPS increased 14% to $1.71
    • Adjusted EPS increased 9% to $2.25
  • Adjusted Operating Income increased 5% to $404M
    • LabCorp Diagnostics increased 7% to $342M
    • Covance Drug Development decreased 1% to $96M
  • Adjusted Operating margin of 17.0%, up from 16.9%
    • LabCorp Diagnostics: 20.4%, up from 19.9%
    • Covance Drug Development: 13.6%, down from 14.5%
  • Quarter-end cash of $568M and debt of $6.2B
  • Net debt-to-EBITDA of 3.3x
  • Narrowed/raised 2016 Guidance:
    • Revenue growth of 10% to 11% (from 9.5% to 10.5%)
    • Adj. EPS of $8.70 to $8.90 (from $8.60 to $8.95), a year-over-year increase of 10% to 13%
  • 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

Stock Price: $125
Market Capitalization: $13 billion

October 26, 2016

 

 

 


 


 

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