NYSE$LH
Laboratory Corp Of America Holdings · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Labcorp's performance set a strong foundation for the year ahead, driven by organic revenue growth, strategic acquisitions, and expansion of the test menu.
Labcorp announced its first quarter 2024 results, with revenue increasing by 4.6% to $3.18 billion. Diluted EPS grew to $2.69, and adjusted EPS reached $3.68. The company updated its full-year guidance, raising the midpoint and narrowing the range of adjusted EPS to $14.45 to $15.35, while free cash flow is expected to remain between $1.00 billion and $1.15 billion.
- Revenue increased by 4.6% to $3.18 billion, driven by organic revenue growth and acquisitions.
- Diluted EPS increased to $2.69, and adjusted EPS increased to $3.68.
- The company updated its full-year adjusted EPS guidance to $14.45 to $15.35.
- Labcorp advanced key growth initiatives, including acquisitions and expansion of its test menu.
Headline financials
Revenue & EPS history
LabCorp · Revenue · Quarterly
$3.18B
Revenue by segment
LabCorp · $3.06B total across 2 segments · Q3 2023
- Diagnostics Laboratories$2.34B+6.0%76.5%
- Biopharma Laboratory Services$719M-48.8%23.5%
Forward guidance
Labcorp updated its 2024 full year guidance to reflect its first quarter performance and full year outlook. Adjusted EPS is expected to be in the range of $14.45 to $15.35, and free cash flow from continuing operations is expected to be between $1.00 billion and $1.15 billion.
Tailwinds
- Revenue growth driven by base business and acquisitions.
- Continued expansion of test menu and innovative solutions.
- Strong position as a partner of choice for health systems and regional/local laboratories.
- Focus on science, technology, and innovation to meet evolving patient needs.
- Commitment to delivering value for customers, shareholders, and employees.
Headwinds
- Potential impact of foreign exchange rate fluctuations.
- Uncertainties related to the completion and timing of the holding company reorganization.
- Impact of global geopolitical events.
- Changes in government regulations, including healthcare reform.
- Adverse weather conditions.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
-0.3%
Avg return
Earnings day
-0.6%
Avg return
5 days after
-0.9%
Avg return
30 days after
48%
35 / 73 earnings
Positive
+9.5%
Q2 2024
Best reaction
-10.4%
Q3 2016
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.0% | +0.0% | +1.3% | |
| Q4 2025 | -2.1% | +0.0% | -6.6% | |
| Q3 2025 | -5.7% | -7.9% | -2.7% | |
| Q2 2025 | -0.5% | +1.2% | +2.0% | |
| Q1 2025 | +4.7% | +7.9% | +7.5% | |
| Q4 2024 | -0.9% | -1.9% | +1.2% | |
| Q3 2024 | +4.0% | +3.7% | +9.0% | |
| Q2 2024 | +9.5% | +4.8% | +6.7% | |
| Q1 2024 | -4.6% | -3.2% | -4.0% | |
| Q4 2023 | -5.0% | -5.5% | -8.3% | |
| Q3 2023 | +0.6% | +1.0% | +7.6% | |
| Q2 2023 | -1.9% | -2.4% | -3.0% | |
| Q1 2023 | -4.6% | -2.5% | -8.2% | |
| Q4 2022 | +3.2% | -0.4% | -14.1% | |
| Q3 2022 | -2.5% | -3.2% | +5.0% | |
| Q2 2022 | +5.1% | +1.2% | -8.1% | |
| Q1 2022 | -5.0% | -3.1% | +1.9% | |
| Q4 2021 | -1.9% | -6.0% | -5.7% | |
| Q3 2021 | +2.3% | +2.0% | +3.1% | |
| Q2 2021 | +4.6% | +6.0% | +6.1% | |
| Q1 2021 | +1.2% | +4.1% | +4.5% | |
| Q4 2020 | +4.0% | +3.1% | +4.1% | |
| Q3 2020 | +1.0% | -1.1% | -2.7% | |
| Q2 2020 | -3.3% | -4.2% | -13.4% | |
| Q1 2020 | -6.5% | -10.4% | -0.4% | |
| Q4 2019 | +4.1% | +1.8% | -19.5% | |
| Q3 2019 | -2.0% | -2.3% | +0.4% | |
| Q2 2019 | -6.5% | -4.2% | -6.9% | |
| Q1 2019 | +3.7% | +6.1% | +5.1% | |
| Q4 2018 | +2.5% | +3.8% | +3.7% | |
| Q3 2018 | -7.1% | -6.2% | -4.1% | |
| Q2 2018 | -5.4% | -6.4% | -5.3% | |
| Q1 2018 | +3.9% | +2.8% | +9.7% | |
| Q4 2017 | +3.9% | +3.0% | +5.9% | |
| Q3 2017 | +1.7% | +2.2% | +0.2% | |
| Q2 2017 | +2.0% | +1.3% | -1.4% | |
| Q1 2017 | -4.1% | -3.1% | -1.9% | |
| Q4 2016 | +2.4% | +2.4% | +5.4% | |
| Q3 2016 | -10.4% | -9.4% | -7.9% | |
| Q2 2016 | +0.4% | +1.2% | -1.4% | |
| Q1 2016 | +4.1% | — | — | |
| Q4 2015 | +2.8% | — | — | |
| Q3 2015 | +7.8% | — | — | |
| Q2 2015 | +3.8% | — | — | |
| Q1 2015 | -2.7% | — | — | |
| Q4 2014 | +4.9% | — | — | |
| Q3 2014 | +3.5% | — | — | |
| Q2 2014 | -0.5% | — | — | |
| Q1 2014 | -0.7% | — | — | |
| Q4 2013 | +1.1% | — | — | |
| Q3 2013 | -3.2% | — | — | |
| Q2 2013 | +0.0% | — | — | |
| Q1 2013 | +0.7% | — | — | |
| Q4 2012 | -1.7% | — | — | |
| Q3 2012 | -4.0% | — | — | |
| Q2 2012 | -9.0% | — | — | |
| Q1 2012 | -3.4% | — | — | |
| Q4 2011 | +2.2% | — | — | |
| Q3 2011 | -6.6% | — | — | |
| Q2 2011 | -0.6% | — | — | |
| Q1 2011 | +1.4% | — | — | |
| Q4 2010 | -0.2% | — | — | |
| Q4 2007 | -0.2% | — | — | |
| Q3 2010 | +1.6% | — | — | |
| Q2 2010 | +0.9% | — | — | |
| Q1 2009 | +1.8% | — | — | |
| Q1 2010 | +1.6% | — | — | |
| Q4 2009 | -0.4% | — | — | |
| Q2 2008 | -1.6% | — | — | |
| Q3 2009 | -1.6% | — | — | |
| Q3 2008 | -1.6% | — | — | |
| Q4 2008 | -1.4% | — | — | |
| Q2 2009 | -1.4% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro