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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.
LabCorp
LabCorp
LabCorp Revenue by Segment
Revenue by Segment
Diagnostics Revenue
CapyFin.comBiopharma Lab Services Revenue
CapyFin.com 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