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Mar 31, 2021
LabCorp Q1 2021 Earnings Report
Labcorp's first quarter of 2021 showed strong financial performance, driven by revenue growth in both Diagnostics and Drug Development segments.
Key Takeaways
Labcorp announced strong Q1 2021 results with revenue increasing by 47.4% to $4.16 billion and adjusted EPS rising to $8.79. The company raised its full-year guidance, reflecting improved recovery in the base businesses and sustained COVID-19 testing contributions.
Revenue for Q1 2021 was $4.2 billion, up from $2.8 billion last year.
Diluted EPS for Q1 2021 was $7.82, a significant increase from ($3.27) last year.
Adjusted EPS for Q1 2021 was $8.79, up from $2.37 last year.
Free Cash Flow for Q1 2021 was $1.1 billion, compared to $97 million last year.
LabCorp
LabCorp
LabCorp Revenue by Segment
Revenue by Segment
Diagnostics Revenue
CapyFin.com Forward Guidance
Labcorp raised its 2021 full year guidance to reflect the improved recovery in the Diagnostics and Drug Development base businesses, while the COVID-19 Testing contribution remains within the original guidance range provided.
Positive Outlook
- Revenue raised to 2.0% to 6.5%
- Adjusted EPS raised to $20.00 to $24.00
- Free Cash Flow raised to $1.8 billion to $2.0 billion