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Dec 31, 2021
LabCorp Q4 2021 Earnings Report
Labcorp's Q4 2021 financial performance decreased compared to the previous year due to a decline in COVID-19 testing, while the base business experienced growth.
Key Takeaways
Labcorp's Q4 2021 revenue was $4.06 billion, a decrease of 9.7% compared to Q4 2020. Diluted EPS was $5.75, down from $9.54 in the same period last year. The company's base business grew by 5.0%, offsetting a decline in COVID-19 testing revenue. Labcorp provided 2022 guidance, including adjusted EPS of $17.25 to $21.25 and free cash flow of $1.7 billion to $1.9 billion.
Revenue for Q4 2021 was $4.1 billion, compared to $4.5 billion in the previous year.
Diluted EPS for Q4 2021 was $5.75, versus $9.54 last year.
Adjusted EPS for Q4 2021 was $6.77, compared to $10.56 last year.
Free cash flow for Q4 2021 was $548 million, versus $675 million last year.
Revenue by Segment
Forward Guidance
Labcorp provided full-year 2022 guidance including revenue, adjusted EPS, and free cash flow.
Positive Outlook
- Adjusted EPS of $17.25 to $21.25.
- Free Cash Flow of $1.7 billion to $1.9 billion.
- Base Business revenue growth of 7.5% to 10.0%.
- Total Drug Development revenue growth of 7.0% to 9.5%.
- Continued Base Business growth in 2022 and beyond.
Challenges Ahead
- COVID-19 Testing revenue decline of (75.0%) to (60.0%).
- Total Diagnostics revenue decline of (17.5%) to (11.5%).
- Impact from foreign currency translation of (0.2%).
- Impact from foreign currency translation of (0.1%).
- Impact from foreign currency translation of (0.4%).
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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