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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.
Revenue by Segment
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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