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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
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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