LABCORP HOLDINGS (LH) Company Report

During Q3 2025, Labcorp delivered $3.6 billion in revenue (up 9% YoY), improved enterprise margin by 100 bps, achieved 19% adjusted EPS growth, and generated $281 million of pre-free cash flow.
The diagnostics segment grew 8.5% (6% organic) with margin expansion of 110 bps, supported by strong organic demand and Invitae accretion; the BLS segment revenue rose 8% (5% constant currency) with a 20 bps margin improvement and a quarterly book-to-bill of 0.9 (TTM 1.09).
Labcorp signed agreements to acquire select assets of Empire City Laboratories and Laboratory Alliance of Central New York, and to manage Kraus Health inpatient labs (expected to close Q1 2026), and completed select oncology and clinical testing assets from Bio Reference Health.
Updated full-year 2025 guidance assumes enterprise revenue growth of 7.4%–8%, diagnostics growth of 7.2%–7.8%, BLS growth of 5.7%–7.1%, adjusted EPS of $16.15–$16.50, and free cash flow of $1.165–$1.285 billion.

Oct 28, 2025, 1:00 PM

Transcript

Labcorp reports Q3 2025 results

Earnings

Guidance Update

M&A

Delivered $3.6 billion in Q3 revenue (+8.6% YoY), driven by 6.2% organic growth, 1.7% from acquisitions, and 0.7% FX translation.
Achieved $4.18 adjusted EPS (+19% YoY); adjusted operating income of $513 million (14.4% margin, +100 bps); generated $281 million in free cash flow (+73%).
Diagnostics labs: $2.8 billion revenue (+8.5% YoY) at 16.3% margin (+110 bps); BLS: $799 million revenue (+8.3% YoY) at 16.5% margin (+20 bps) and $8.6 billion backlog.
Updated 2025 guidance: enterprise revenue growth of 7.4–8.0%, adjusted EPS $16.15–16.50, and free cash flow $1.165–1.285 billion.
Advanced M&A strategy with agreements to acquire assets from Empire City Laboratories and Laboratory Alliance of Central New York and partnership with Kraus Health (closing Q1 2026); outreach business deal from Community Health Systems expected by year-end; completed oncology assets acquisition from Bio Reference Health.

Oct 28, 2025, 1:00 PM

Transcript

Labcorp reports Q3 2025 results

Earnings

Guidance Update

Reported Q3 2025 revenue of $3,563.5 M, up 8.5% YoY; adjusted EBITDA of $610.3 M, versus $538.9 M in Q3 2024.
Delivered adjusted EPS of $4.18, up from $3.50 in Q3 2024, reflecting strong operational leverage.
Diagnostics Laboratories revenue grew 8.5%, driven by 4.7% volume growth and 3.7% price/mix in Q3 2025.
Biopharma Laboratory Services posted Q3 net orders of $710.8 M (book-to-bill 0.89×) and TTM net orders of $3.34 B as of September 30, 2025.
Updated 2025 guidance: revenue $13.97–$14.05 B (+7.4–8.0%), adjusted EPS $16.15–$16.50 (+10.8–13.2%), and free cash flow $1.17–$1.29 B (+6.3–17.3%).

Oct 28, 2025, 1:00 PM

Presentation

Labcorp reports Q3 2025 results

Earnings

Guidance Update

M&A

Revenue of $3.6 B (+8.6% y/y), driven by 6.2% organic growth, 1.7% acquisitions, and 0.7% foreign exchange.
Adjusted EPS of $4.18 (+19% y/y); adjusted operating income of $513 M (14.4% margin vs. 13.4% prior year).
Diagnostics revenue of $2.8 B (+8.5% y/y) with a 16.3% margin (+110 bps); BLS revenue of $799 M (+8.3% y/y) with a 16.5% margin (+10 bps).
Full-year 2025 guidance updated to revenue growth of 7.4%–8.0%, EPS of $16.15–$16.50 (12% midpoint growth), and free cash flow of $1.165–$1.285 B.
M&A activity includes agreements to acquire assets of Empire City Laboratories and Laboratory Alliance of CNY, a lab management deal with Kraus Health, and completion of BioReference oncology assets acquisition.

Oct 28, 2025, 1:00 PM

Transcript

Labcorp reports Q3 profit growth, raises 2025 EPS outlook

Earnings

Guidance Update

M&A

Q3 net income of $261.1 million and adjusted EPS of $4.18, beating expectations; revenue up 8.6% to $3.56 billion.
Raised 2025 adjusted EPS guidance to $16.15–$16.50, while lowering revenue growth forecast to 7.4%–8.0%.
Diagnostics Laboratories revenue rose 8.5% to $2.77 billion; Biopharma Laboratory Services grew 8.3% to $799.1 million; adjusted operating margin improved to 14.4% (vs. 13.4%).
Free cash flow surged to $280.5 million from $161.5 million year-ago.
Completed key M&A activities and partnerships, including oncology assets acquisitions and a 2026 launch of Roche’s Alzheimer’s blood test in primary care.

Oct 28, 2025, 11:09 AM

Morningstar

Labcorp reports Q3 2025 results and updates full-year guidance

Earnings

Guidance Update

M&A

Labcorp reported Q3 revenue of $3.56 B (up 8.6% y-o-y), diluted EPS of $3.12 and adjusted EPS of $4.18.
Updated 2025 guidance to 7.4–8.0% enterprise revenue growth, $16.15–16.50 adjusted EPS and $1.17–1.29 B free cash flow.
Declared a $0.72 per-share quarterly dividend and repurchased $25 M of common stock in the quarter.
Advanced strategic M&A by signing agreements to acquire assets of Empire City Laboratories and Laboratory Alliance of Central New York and completing acquisition of oncology testing assets from BioReference Health.

Oct 28, 2025, 10:55 AM

8-K

Labcorp reports Q3 2025 results and updates guidance

Earnings

Guidance Update

M&A

Labcorp reported Q3 2025 revenue of $3.56 billion, up 8.6% YoY; diluted EPS of $3.12 and adjusted EPS of $4.18.
Updated FY 2025 guidance to 7.4%–8.0% enterprise revenue growth, $16.15–$16.50 adjusted EPS, and $1.17 billion–$1.29 billion free cash flow.
Executed strategic M&A, signing agreements to acquire assets of Empire City Laboratories and Laboratory Alliance of Central New York, advancing the Community Health Systems outreach acquisition, and completing oncology asset acquisitions from BioReference Health.
Declared a quarterly dividend of $0.72 per share and repurchased $25 million of common stock in Q3.

Oct 28, 2025, 10:50 AM

Press Release

Labcorp collaborates with Praia Health and Providence to enhance digital patient engagement

New Projects/Investments

Integration of Labcorp’s patient scheduling and lab ordering systems with Providence’s Praia Health-powered digital platform streamlines booking, payment, and record access for patients.
Collaboration drove 8× increase in scheduled appointments, 52% rise in digital lab bookings, 37% of canceled appointments rebooked within 30 days, 52% uplift in bill pay engagement, and 23% of appointments self-managed to reduce no-shows.
The partners plan to expand into genomics, chronic care management, at-home lab collection, and clinical trial recruitment.

Oct 20, 2025, 1:00 PM

Press Release

Labcorp completes acquisition of BioReference Health oncology assets

M&A

Labcorp (NYSE: LH) completed the acquisition of select assets of BioReference Health from OPKO Health, enhancing its oncology testing services.
The deal covers oncology and related clinical testing businesses in the US for a total consideration of up to $225 million (including $192.5 M paid at closing and up to $32.5 M earnout).
Continuing operations of BioReference Health retain its core clinical testing in NY/NJ and the 4Kscore® Test franchise, which generated ~$300 million in revenue in 2024.
The acquisition broadens Labcorp’s oncology portfolio, while OPKO will use proceeds to fund its expanded share repurchase authorization.

Sep 15, 2025, 12:30 PM

Press Release

Labcorp launches first FDA-cleared blood test for Alzheimer’s disease

Product Launch

Labcorp releases the first FDA-cleared blood-based in-vitro diagnostic test for Alzheimer’s disease, the Lumipulse® pTau-217/Beta Amyloid 42 Ratio, now available nationwide through its network.
The test delivers a 92% positive predictive value and a 97% negative predictive value, comparable to CSF and PET methods but via a simple blood draw.
Intended for adults aged 50+ presenting with signs of cognitive decline and to be used alongside other clinical information, not as a standalone diagnostic.
Available at over 2,200 Labcorp Patient Service Centers, replacing a similar test launched in April 2025.

Aug 18, 2025, 11:00 AM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for LABCORP HOLDINGS.

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