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Dec 31, 2023
LabCorp Q4 2023 Earnings Report
Labcorp's Q4 2023 results reflected revenue increase, but a net loss due to impairment charges.
Key Takeaways
Labcorp's Q4 2023 saw a revenue increase of 3.5% to $3.03 billion, driven by organic growth and acquisitions. However, the company reported a net loss of $(166.8) million, or $(1.95) per share, compared to a net income of $37.1 million, or $0.42 per share in Q4 2022. Adjusted EPS was $3.30, up from $3.05 in the prior year. The results were impacted by impairment charges and a decrease in COVID-19 testing revenue.
Revenue increased by 3.5% to $3.03 billion compared to Q4 2022.
Diluted EPS was $(1.95) compared to $0.42 in the same period last year.
Adjusted EPS increased to $3.30 from $3.05 in Q4 2022.
Free cash flow was $414.2 million, down from $508.1 million in the prior year.
Revenue by Segment
Forward Guidance
Labcorp provided its full year 2024 guidance, including revenue growth and adjusted EPS.
Positive Outlook
- Revenue is expected to be between $12.24.7 billion and $12.26.5 billion.
- Diagnostics Laboratories revenue is expected to grow between 3.2% and 4.8%.
- Biopharma Laboratory Services revenue is expected to grow between 5.5% and 7.5%.
- Adjusted EPS is projected to be between $14.30 and $15.40.
- Free cash flow from continuing operations is expected to be between $1.00 billion and $1.15 billion.
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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