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Sep 30, 2021
LabCorp Q3 2021 Earnings Report
Labcorp's Q3 2021 results were announced, demonstrating strong performance and leading to raised full-year guidance.
Key Takeaways
Labcorp reported a revenue increase of 4.3% to $4.06 billion compared to Q3 2020. Diluted EPS decreased to $6.05 from $7.17 in the same period last year, while adjusted EPS was $6.82 compared to $8.41 in Q3 2020. The company raised its full-year guidance for revenue, adjusted EPS, and free cash flow.
Revenue increased to $4.1 billion, compared to $3.9 billion last year.
Diluted EPS was $6.05, versus $7.17 last year.
Adjusted EPS was $6.82, versus $8.41 last year.
Free Cash Flow was $650 million, versus $709 million last year.
LabCorp
LabCorp
LabCorp Revenue by Segment
Revenue by Segment
Diagnostics Revenue
CapyFin.comBiopharma Lab Services Revenue
CapyFin.com Forward Guidance
Labcorp raised its 2021 full year guidance to reflect its strong third-quarter performance and improved full-year outlook.
Positive Outlook
- Revenue raised to range of 13.0% to 14.0%.
- Adjusted EPS raised to range of $26.00 to $28.00.
- Free Cash Flow raised to range of $2.45 billion to $2.60 billion
- Base Business revenue is expected to grow between 18.5% and 19.5%.
- Drug Development revenue is expected to grow between 19.5% and 20.5%.
Challenges Ahead
- COVID-19 Testing revenue is expected to decline between (11.0%) and (6.0%).
- Diagnostics revenue is expected to grow between 8.0% and 10.0%.
- Previous revenue guidance was 6.5% to 9.0%.
- Previous Adjusted EPS guidance was $21.50 to $25.00.
- Previous Free Cash Flow guidance was $1.95 to $2.15.
Revenue & Expenses
Visualization of income flow from segment revenue to net income