Labcorp Holdings Inc. · NYSE:LH
Labcorp — Q2 2026 Earnings Presentation
15 slides from Labcorp's earnings presentation, Jul 30, 2026
Slide 1: Labcorp Announces 2026 Second Quarter Results; Raises Full Year 2026 Guidance
FOR IMMEDIATE RELEASE Contact: Dewey Steadman - Investors Racquel White - Media Investor@labcorp.com Media@labcorp.com Labcorp Announces 2026 Second Quarter Results; Raises Full Year 2026 Guidance • Results from operations for second quarter 2026 versus second quarter 2025: ◦ Revenue: $3.73 billion
Slide 2: Labcorp continues to advance its strategic priorities
Labcorp continues to advance its strategic priorities: Lead in specialty testing, with several advancements in Labcorp Oncology: • Added an advanced DPYD genotyping test that helps identify patients at risk for severe chemotherapy treatment-related toxicity. • Launched ColoSense® nationwide, the fir
Slide 3: Disciplined allocation of capital
Labcorp also remains committed to a disciplined allocation of capital. In the second quarter of 2026, the company invested $225.7 million in acquisitions, repurchased $353.8 million of stock, and paid out $58.7 million in dividends. The company also paid down $500.0 million in senior notes in June.
Slide 4: Consolidated Results
LABCORP HOLDINGS INC. AND SUBSIDIARIES CONSOLIDATED RESULTS Three Months Ended June 30, Six Months Ended June 30, 2026 2025 Delta 2026 2025 Delta Revenue Summary (Dollars in millions) Total Revenue $ 3,731.1 $ 3,527.3 5.8% $ 7,268.7 $ 6,872.4 5.8% Organic(1) 4.2% 3.6% Acquisitions, net of Divestitur
Slide 5: Consolidated Results: Cash Flow and Capital Allocation
LABCORP HOLDINGS INC. AND SUBSIDIARIES CONSOLIDATED RESULTS Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Cash Flow Summary (Dollars in millions) Operating Cash Flow $ 445.5 $ 620.6 $ 637.0 $ 639.1 Capital Expenditures 131.6 77.9 252.6 203.9 (1) Free Cash Flow $ 313.9 $ 5
Slide 6: Diagnostics Laboratories Segment Summary
LABCORP HOLDINGS INC. AND SUBSIDIARIES Diagnostics Laboratories Segment Summary Three Months Ended June 30, 2026 2025 Delta Revenue Summary (Dollars in millions) Total Revenue $ 2,900.7 $ 2,748.8 5.5% Organic 3.6% Acquisitions, net of Divestitures 1.9% Earnings Summary (1) (Dollars in millions) (3)
Slide 7: Biopharma Laboratory Services Segment Summary
LABCORP HOLDINGS INC. AND SUBSIDIARIES Biopharma Laboratory Services Segment Summary Three Months Ended June 30, 2026 2025 Delta Revenue Summary (Dollars in millions) Total Revenue $ 836.2 $ 784.8 6.5 % (1) Organic(2) 6.2 % (3) Acquisitions, net of Divestitures (1.4)% Foreign Exchange 1.8 % (1) Cent
Slide 8: Guidance for 2026
Guidance for 2026 Labcorp is updating 2026 full year guidance to reflect its second quarter performance and full year outlook. The following guidance assumes foreign exchange rates effective as of June 30, 2026. Enterprise level guidance includes the estimated impact from currently anticipated capit
Slide 9: Use of Adjusted Measures
Use of Adjusted Measures The company has provided in this press release and accompanying tables “adjusted” financial information that has not been prepared in accordance with GAAP, including adjusted net income, adjusted EPS (or adjusted net income per share), adjusted operating income, adjusted ope
Slide 10: About Labcorp
About Labcorp Labcorp (NYSE: LH) is a global leader of innovative and comprehensive laboratory services that helps doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. We provide insights and advance science to improve health and improve lives t
Slide 11: Consolidated Statements of Operations
LABCORP HOLDINGS INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (In Millions, Except Per Share Data) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Revenues $ 3,731.1 $ 3,527.3 $ 7,268.7 $ 6,872.4 Cost of revenues 2,619.1 2,481.1 5,142.9 4,878.2 Gross profit 1
Slide 12: Consolidated Balance Sheets
LABCORP HOLDINGS INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In Millions) June 30, 2026 December 31, 2025 ASSETS Current assets: Cash and cash equivalents $ 141.8 $ 532.3 Accounts receivable, net 2,342.4 2,103.8 Unbilled services, net 162.4 156.9 Supplies inventory 562.2 534.7 Prepaid expense
Slide 13: Consolidated Statements of Cash Flows
LABCORP HOLDINGS INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (In Millions) Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 CASH FLOWS FROM OPERATING ACTIVITIES: Net earnings $ 299.1 $ 238.3 $ 577.1 $ 451.3 Adjustments to reconcile net earnings to net cash pr
Slide 14: Condensed Combined Non-GAAP Segment Information
LABCORP HOLDINGS INC. AND SUBSIDIARIES Condensed Combined Non-GAAP Segment Information (Dollars in Millions) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Diagnostics Laboratories Revenues $ 2,900.7 $ 2,748.8 $ 5,662.8 $ 5,378.4 Adjusted operating income $ 522.6 $ 482.8 $
Slide 15: Reconciliation of Non-GAAP Measures
LABCORP HOLDINGS INC. AND SUBSIDIARIES Reconciliation of Non-GAAP Measures (Dollars and Shares in Millions, Except Per Share Data) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Adjusted Operating Income Operating income $ 451.6 $ 394.5 $ 832.4 $ 720.5 Amortization of inta