Labcorp Announces 2024 Fourth Quarter and Full Year Results

Original from: Labcorp

Company Provides 2025 Guidance

·  Results from Continuing Operations versus last year:

 - Revenue: Q4 of $3.33 billion vs $3.03 billion; Full year of $13.01 billion vs $12.16 billion

 - Diluted EPS: Q4 of $1.70 vs $(1.95); Full year of $8.84 vs $4.33

 - Adjusted EPS: Q4 of $3.45 vs $3.30; Full year of $14.57 vs $13.56

 - Free Cash Flow: Q4 of $665.1 million vs $412.4 million; Full year of $1.10 billion vs $748.7 million

·  Announced 10 transactions and launched new innovative tests meeting significant unmet medical needs in key specialty areas in full year 2024

·  Full-Year 2025 Guidance:

 - Revenue of $13.88 billion to $14.05 billion; midpoint growth of 7.4%

 - Adjusted EPS of $15.60 to $16.40; midpoint growth of 9.8%

 - Free Cash Flow of $1.10 billion to $1.25 billion; midpoint growth of 7.2%

Labcorp Holdings Inc. (NYSE: LH), a global leader of innovative and comprehensive laboratory services, today announced results for the fourth quarter ended December 31, 2024, and provided 2025 guidance.

"In 2024, Labcorp delivered exceptional results driven by both organic and inorganic growth," said Adam Schechter, chairman and CEO of Labcorp. "We announced 10 transactions to further establish our position as a trusted partner to hospitals, health systems and regional/local laboratories. Additionally, we strengthened our presence in key high growth areas including oncology, women's health, neurology and autoimmune disease. In 2025, we are positioned to deliver strong growth and margin expansion across both Diagnostics Laboratories and Biopharma Laboratory Services, while we improve health and improve lives of patients around the world."

In the fourth quarter, Labcorp advanced its position as a partner of choice for hospitals, health systems and regional/local laboratories: 

 - Completed the acquisition of select assets and molecular testing location of Lab Works in Birmingham, Alabama.

 - Completed the acquisition of select outreach laboratory services from Ballad Health in the Appalachian region.

 - Subsequent to quarter end, announced a strategic collaboration with New Jersey-based Inspira Health to manage operations of hospital laboratories and to serve as the primary lab for Inspira's physician network.

The company also continued to make strides in science, technology and innovation:

 - Launched a Multiple Sclerosis Monitoring Profile to monitor neurofilament light chain serum (NfL) and glial fibrillary acid protein, serum (GFAP) values in multiple sclerosis patients.

 - Introduced a new H5 bird flu molecular test to aid in the diagnosis of human infection with H5 bird flu.

 - Announced the availability of the first companion diagnostic assay to identify gastric cancer patients eligible for a targeted treatment for people with advanced cancer of the stomach.

 - Expanded our Labcorp OnDemand test menu with new offerings to help consumers manage their health and well-being.

 - Introduced enhancements to Global Trial Connect aimed at increasing the speed of clinical trials.

On January 8, 2025, Labcorp announced a quarterly cash dividend of $0.72 per share of common stock, payable on March 12, 2025, to stockholders of record at the close of business on February 27, 2025.

Source: Labcorp Announces 2024 Fourth Quarter and Full Year Results