Labcorp Holdings Inc. · NYSE:LH
Labcorp — Q1 2026 Earnings Presentation
16 slides from Labcorp's earnings presentation, Apr 30, 2026
Slide 1: First Quarter 2026 Supplemental Financial Information
First Quarter 2026 Supplemental Financial Information April 30, 2026
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
Cautionary Statement Regarding Forward-Looking Statements This presentation contains forward-looking statements, including, but not limited to, statements with respect to (i) the estimated 2026 guidance and related assumptions, (ii) the impact of various factors on operating and financial results, i
Slide 3: Use of Adjusted Measures
Use of Adjusted Measures The company has provided in this presentation and accompanying tables “adjusted” financial information that has not been prepared in accordance with GAAP, including adjusted net income, adjusted EBITDA, adjusted EPS (or adjusted net income per share), adjusted operating inco
Slide 4: Select Financial Metrics
Select Financial Metrics (Dollars in Millions) 1Q25 2Q25 3Q25 4Q25 1Q26 Depreciation $91.6 $96.2 $97.0 $96.4 $94.0 Amortization of Intangibles and Other Assets $69.6 $68.3 $69.5 $72.6 $75.6 Total Adjusted EBITDA (1) $560.6 $627.8 $610.3 $584.1 $601.9 Total Debt to Last Twelve Months Adjusted EBITDA
Slide 5: First Quarter 2026 Foreign Exchange Impact to Revenues
First Quarter 2026 Foreign Exchange Impact to Revenues (1) (Dollars in Millions) Year over Year Dollars % Growth Enterprise Revenues, Constant Currency $3,494 4.4% Foreign Exchange Impact 44 1.3% Revenues, as Reported $3,538 5.8% Diagnostics Laboratories Revenues, Constant Currency $2,757 4.9% Forei
Slide 6: First Quarter 2026 Revenue Distribution
First Quarter 2026 Revenue Distribution Segment Distribution B iopharma L aboratory Diagnos tics S ervices L aboratories 22.1% 77.9% Geographic Distribution (1) R es t of World 17.6% US A 82.4% (1) Revenues recognized in several currencies; the largest foreign currency accounts for less than 10% of
Slide 7: Additional Quarterly Business Segment Information
Additional Quarterly Business Segment Information (Dollars in Millions) 2024(1) 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Diagnostics Laboratories Revenue Routine vs. Esoteric Mix: Routine (2) 61.8% 61.2% 60.3% 59.9% 60.3% 59.5% 58.6% 58.5% 59.6% Esoteric 38.2% 38.8% 39.7% 40.1% 39.7% 40.5% 41.4% 41.5% 4
Slide 8: Diagnostics Laboratories Price / Mix & Days
Diagnostics Laboratories Price / Mix & Days Revenue breakdown by Volume and Price / Mix Year over Year % Change Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Revenue (1) 6.0% 8.9% 8.5% 5.5% 5.0% Volume (in requisitions) (2) 3.0% 4.9% 4.7% 2.2% 2.5% Price / mix (3) 3.0% 4.0% 3.7% 3.3% 2.6% Days in 2026 Ver
Slide 9: Biopharma Laboratory Services: Select Financial Metrics
Biopharma Laboratory Services: Select Financial Metrics (1) Trailing Twelve Month (TTM) Results Net Orders Net Book-to-Bill TTM Ending March 31, 2026 $3.29 billion 1.04x TTM Ending December 31, 2025 $3.37 billion 1.09x TTM Ending September 30, 2025 $3.34 billion 1.09x TTM Ending June 30, 2025 $3.34
Slide 10: Outlook for 2026 as of April 30, 2026
Outlook for 2026 as of April 30, 2026 (Dollars in billions, except per share data) Previous Updated 2026 Guidance 2026 Guidance (in Dollars) (in Dollars) Low High Low High Revenue Labcorp Enterprise (1)(2) $14.61 $14.79 $14.65 $14.80 Growth (3) 4.7% 6.0% 5.0% 6.1% Diagnostics Laboratories $11.42 $11
Slide 11: Reconciliation of Non-GAAP Financial Measures – Adjusted EBITDA
Reconciliation of Non-GAAP Financial Measures – Adjusted EBITDA (In Millions) 1Q25 2Q25 3Q25 4Q25 1Q26 Operating Income $ 326.0 $ 394.5 $ 396.6 $ 267.6 $ 380.8 Add: Restructuring and other charges 6.4 4.1 5.9 110.8 6.4 Goodwill and other asset impairments — — 0.7 3.6 — Other special charges (1) 67.0
Slide 12: GAAP and Non-GAAP Income Statement
GAAP and Non-GAAP Income Statement (In Millions, Except Per Share Data) GAAP Non-GAAP (1) Three Months Ended March 31, Three Months Ended March 31, 2026 2025 2026 2025 Revenues $ 3,537.6 $ 3,345.1 $ 3,537.6 $ 3,345.1 Cost of revenues 2,523.8 2,397.1 2,508.7 2,371.4 Gross profit 1,013.8 948.0 1,028.9
Slide 13: Reconciliation of Non-GAAP Income Statement
Reconciliation of Non-GAAP Income Statement(1) (In Millions, Except Per Share Data) Three Months Ended March 31, 2026 Amortization Venture Fund GAAP of intangibles Restructuring Acquisition and and Equity Non-GAAP and other and other disposition- Launchpad Method Income assets(a) charges(b) related
Slide 14: Reconciliation of Non-GAAP Income Statement
Reconciliation of Non-GAAP Income Statement(1) (In Millions, Except Per Share Data) Three Months Ended March 31, 2025 Amortization GAAP of intangibles Restructuring Acquisition and Non-GAAP and other and other disposition- Launchpad TSA Venture Fund Income assets(a) charges(b) related costs(c) Costs
Slide 15: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures(1) (Dollars and Shares In Millions, Except Per Share Data) Three Months Ended March 31, 2026 2025 Adjusted Operating Income Operating income $ 380.8 $ 326.0 Amortization of intangibles and other assets (a) 75.6 69.6 Restructuring and other charges (b) 6.
Slide 16: Reconciliation of Non-GAAP Financial Measures – Footnotes
Reconciliation of Non-GAAP Financial Measures – Footnotes (a) Amortization of intangible assets acquired as part of business acquisitions. (b) Restructuring and other charges represent amounts incurred in connection with the elimination of redundant positions and facilities and contract termination