Labcorp Announces 2026 Second Quarter Results; Raises Full Year 2026 Guidance

BURLINGTON, N.C., July 30, 2026 /PRNewswire/ -- Labcorp Holdings Inc. (NYSE: LH), a global leader of innovative and comprehensive laboratory services, today announced results for the second quarter ended June 30, 2026 and updated its full-year financial guidance.

"Labcorp delivered another very strong quarter, with 6% revenue growth, significant margin expansion, and double-digit adjusted EPS growth reflecting continued momentum across the business," said Adam Schechter, Chairman and CEO of Labcorp. "During the second quarter, we expanded our leadership in oncology and other high-growth specialty areas, strengthened our position as the partner of choice for health systems, biopharmaceutical companies, and regional/local laboratories, and advanced our use of technology to improve the experience for consumers and providers. Our performance and continued execution position us well to deliver sustainable growth and long-term value for customers and shareholders."

Labcorp continues to advance its strategic priorities:

Lead in specialty testing, with several advancements in Labcorp Oncology:

Be a partner of choice for health systems and regional/local laboratories:

Grow Consumer Health:

Shape our future through technology and innovation:

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. On July 9, 2026, the company announced a quarterly cash dividend of $0.72 per share of common stock, payable on September 11, 2026, to stockholders of record at the close of business on August 28, 2026. In July, the Board of Directors approved an increase of $1.0 billion in the company's share repurchase authorization, bringing the remaining total authorization to $1.4 billion.

CONSOLIDATED RESULTS

CONSOLIDATED RESULTS

Capital Allocation Summary

Diagnostics Laboratories Segment Summary

Biopharma Laboratory Services Segment Summary

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 capital allocation, including acquisitions, share repurchases, and dividends.

(Dollars in millions, except per share data)

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 operating margin, free cash flow, and certain segment information. The company believes these adjusted measures are useful to investors as a supplement to, but not as a substitute for, GAAP measures, in evaluating the company's operational performance. The company further believes that the use of these non-GAAP financial measures provides an additional tool for investors in evaluating operating results and trends, and growth and shareholder returns, as well as in comparing the company's financial results with the financial results of other companies. However, the company notes that these adjusted measures may be different from and not directly comparable to the measures presented by other companies. Reconciliations of these non-GAAP measures to the most comparable GAAP measures and an identification of the components that comprise "special items" used for certain adjusted financial information are included in the tables accompanying this press release.

The company today is providing an investor relations presentation with additional information on its business and operations, which is available in the investor relations section of the company's website at https://ir.labcorp.com. Analysts and investors are directed to the website to review this supplemental information.

A webcast discussing Labcorp's quarterly results will be held today at 9:00 a.m. ET and is available by accessing the Labcorp investor relations website and navigating to the "Events" section. Alternatively, the live webcast can be accessed on this link. This webcast will be archived and accessible for one year.

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 through our unparalleled diagnostics and drug development laboratory capabilities. The company's nearly 71,000 employees serve clients in approximately 100 countries, provided support for more than 85% of the new drugs and therapeutic products approved by the FDA in 2025, and performed more than 750 million tests for patients around the world. Learn more at www.labcorp.com. 

Cautionary Statement Regarding Forward-Looking Statements

This press release 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, including global economic and market conditions on the company's businesses, operating results, cash flows and/or financial condition, (iii) future business strategies, (iv) expected savings, synergies and other benefits to the company, customers or patients from acquisitions and other transactions and partnerships, and (v) opportunities for future growth.

Each of the forward-looking statements is subject to change based on various important factors, many of which are beyond the company's control, including without limitation: (i) the failure to receive tax-free treatment with respect to the spin-off of the company's former Clinical Development and Commercialization Services business for U.S. federal income purposes; (ii) the impact of spin-off related items; (iii) personnel costs and potential difficulties with employee relations and retention; (iv) the trading price of the company's stock, competitive actions and other unforeseen changes and general uncertainties in the marketplace; (v) the impact of changes to existing or adoption of new laws and regulations applicable to the company, including healthcare reform, or changes to the interpretation and application of such laws and regulations; (vi) customer purchasing decisions, including changes in payer regulations or policies; (vii) adverse actions of governmental and third-party payers; (viii) changes in testing guidelines or recommendations; (ix) the impact of global geopolitical events; (x) the effect of public opinion on the company's reputation; (xi) adverse results in material litigation matters; (xii) failure to maintain or develop customer relationships; (xiii) the company's ability to develop or acquire new products and adapt to technological changes; (xiv) failure of the company's information technology, systems, or data security; (xv) the impact of potential losses under repurchase agreements; (xvi) adverse weather conditions; (xvii) the number of revenue days in a financial period; (xviii) inflation; (xix) increased competition; and (xx) the effect of exchange rate fluctuations. These factors, in some cases, have affected and in the future (together with other factors) could affect the company's ability to implement the company's business strategy, and actual results could differ materially from those suggested by these forward-looking statements. As a result, readers are cautioned not to place undue reliance on any of the forward-looking statements.

The company has no obligation to provide any updates to these forward-looking statements even if its expectations change. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. Further information on potential factors, risks and uncertainties that could affect operating and financial results is included in the company's most recent Annual Report on Form 10-K and subsequent Forms 10-Q, including in each case under the heading RISK FACTORS, and in the company's other filings with the SEC. The information in this press release should be read in conjunction with a review of the company's filings with the SEC including the information in the company's most recent Annual Report on Form 10-K, and subsequent Forms 10-Q, under the heading "MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS".

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- Tables to Follow -

CONSOLIDATED STATEMENTS OF OPERATIONS

(In Millions, Except Per Share Data)

CONSOLIDATED BALANCE SHEETS

(In Millions)

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In Millions)

Condensed Combined Non-GAAP Segment Information

(Dollars in Millions)

The consolidated revenue and adjusted segment operating income are presented net of intercompany transaction eliminations and other amounts not used in determining segment performance. Adjusted operating income and adjusted operating margin are non-GAAP measures. See the subsequent reconciliation of non-GAAP financial measures.

Reconciliation of Non-GAAP Measures

(Dollars and Shares in Millions, Except Per Share Data)

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SOURCE Labcorp Holdings Inc