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Jun 30, 2021
LabCorp Q2 2021 Earnings Report
Labcorp's second quarter performance was strong, driven by the company's focus on science, innovation, and technology.
Key Takeaways
Labcorp announced strong second-quarter results, with revenue increasing by 38.7% to $3.84 billion and diluted EPS rising to $4.76. The company raised its full-year guidance, reflecting its improved outlook.
Revenue: Q2 of $3.8 billion, versus $2.8 billion last year
Diluted EPS: Q2 of $4.76, versus $2.37 last year
Adjusted EPS: Q2 of $6.13, versus $2.57 last year
Free Cash Flow: Q2 of $390 million, versus $272 million last year
LabCorp
LabCorp
LabCorp Revenue by Segment
Revenue by Segment
Diagnostics Revenue
CapyFin.com Forward Guidance
Labcorp is raising 2021 full year guidance to reflect its strong second quarter performance and improved full year outlook.
Positive Outlook
- Revenue raised to range of 6.5% to 9.0%
- Adjusted EPS raised to range of $21.50 to $25.00
- Free Cash Flow raised to range of $1.95 billion to $2.15 billion
- Base Business revenue is expected to grow between 17.0% and 19.0%
- Drug Development revenue is expected to grow between 17.0% and 19.0%
Challenges Ahead
- COVID-19 Testing revenue is expected to decline between (38.0%) and (33.0%)
- Total Diagnostics revenue is expected to decline between (1.0%) and 2.0%
- COVID-19 Testing revenue is expected to decline between (38.0%) and (33.0%)
- Adjusted EPS is raised to range of $21.50 to $25.00
- Free Cash Flow is raised to range of $1.95 billion to $2.15 billion