Labcorp Holdings Inc. · NYSE:LH
Labcorp — Laboratory Corp of America Holdings — Q1 2014 Earnings Presentation
10 slides from Labcorp's earnings presentation, Apr 28, 2014
Slide 1: Laboratory Corporation of America 8-K Filed April 28, 2014
“LabCorp P= | aboratory Corporation of America 8-K Filed April 28, 2014
Slide 2: Introduction
2 Introduction This slide presentation contains forward-looking statements which are subject to change based on various important factors, including without limitation, competitive actions in the marketplace and adverse actions of governmental and other third-party payors. Actual results could diffe
Slide 3: First Quarter Results
3 First Quarter Results (In millions, except per share data) (1) See Reconciliation of non-GAAP Financial Measures on slide 7 (2) During the first quarter, inclement weather reduced the Company’s margins by an estimated180 basis points. 2014 (2) 2013 +/(-) Revenue 1,430.7$ 1,440.9$ -0.7% Adjusted Op
Slide 4: Cash Flow Trends
4 Cash Flow Trends Note: 2011 Operating Cash Flow and Free Cash Flow calculation above does not include the $49.5 million Hunter Labs settlement During 2013, government payment reductions and molecular pathology payment issues reduced the Company’s Operating Cash Flow and Free Cash Flow by more than
Slide 5: Financial Guidance - 2014
5 Financial Guidance - 2014 Excluding the impact of restructuring and other special charges and share repurchase activity after March 31, 2014, guidance for 2014 is: • Revenue growth: Approximately 2.0% • Adjusted EPS Excluding Amortization: $6.40 - $6.70 • Operating cash flow: Approximately $780 Mi
Slide 6: Supplemental Financial Information
6 Supplemental Financial Information Q1 14 Depreciation 38.3$ Amortization 21.0$ Capital expenditures 56.5$ Cash flows from operations 142.3$ Bad debt as a percentage of sales 4.6% Effective interest rate on debt: Zero coupon-subordinated notes 2.00% 3 1/8% Senior Notes 3.27% 4 5/8% Senior Notes 4.7
Slide 7: Adjusted Operating Income and Adjusted EPS Reconciliation
7 Reconciliation of non-GAAP Financial Measures Adjusted Operating Income 2014 2013 Operating income 203.3$ 262.0$ Restructuring and other special charges (1) (2) 7.6 7.5 Adjusted operating income 210.9$ 269.5$ Adjusted EPS Excluding Amortization Diluted earnings per common share 1.31$ 1.56$ Impact
Slide 8: Footnotes
8 Reconciliation of non-GAAP Financial Measures - Footnotes 1) During the first quarter of 2014, the Company recorded net restructuring and other special charges of $7.6 million. The charges included $2.8 million in severance and other personnel costs along with $4.9 million in costs associated with
Slide 9: Reconciliation of Free Cash Flow
9 Reconciliation of Free Cash Flow (1) 2011 cash flows from operations excludes the $49.5 million Hunter Labs settlement payment (2) Free cash flow represents cash flows from operations less capital expenditures 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 Cash flows from operations1 818.7$ 841
Slide 10: | SLabCorp
| SLabCorp = Laboratory Corporation of Ame!
Laboratory Corp of America Holdings — Q1 2014 Earnings Presentation on 6ix