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Sep 30, 2020
LabCorp Q3 2020 Earnings Report
LabCorp's Q3 2020 earnings were announced, demonstrating significant revenue and EPS growth.
Key Takeaways
LabCorp announced strong Q3 2020 results, with revenue increasing by 33.0% to $3.9 billion and diluted EPS rising to $7.17. The company's performance was driven by COVID-19 testing and improvements in its base business, leading to increased operating income and free cash flow. LabCorp also decided to return all money received from the CARES Act Provider Relief Funds due to its improved financial outlook.
Q3 revenue increased to $3.9 billion, a 33.0% rise from the previous year.
Diluted EPS for Q3 reached $7.17, significantly up from $2.25 last year; adjusted EPS was $8.41, compared to $2.90 last year.
Q3 free cash flow grew to $709 million, an increase from $363 million in the prior year.
LabCorp will return all money received from the CARES Act Provider Relief Funds due to improved financial performance.
Revenue by Segment
Forward Guidance
Given the continued unpredictability pertaining to the COVID-19 pandemic, there are a wide-range of potential financial outcomes. As a result, the Company continues to not provide 2020 guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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