labcorp This presentation contains forward-looking statements, including, but not limited to, statements with respect to (i) the estimated 2024 guidance and related assumptions, (ii) the recently completed spin-off of the company's Clinical Development and Commercialization Services business, now Fortrea Holdings Inc.; (iii) the impact of various factors on operating and financial results, including the impact of the COVID-19 pandemic on the company's businesses, operating results, cash flows and/or financi ...

FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number 1-11353 LABORATORY CORPORATION OF AMERICA HOLDINGS (Exact name of registrant as specified in its charter) | Delaware | | 13-3 ...

Financial Data and Key Metrics Changes - In the third quarter, revenue totaled $3.1 billion, representing a 6.6% increase compared to the previous year, primarily driven by organic growth and acquisitions, partially offset by lower COVID testing [46][97] - Adjusted earnings per share (EPS) was $3.38, down 16% from last year due to reduced COVID testing earnings, while base business adjusted EPS increased approximately 10% [54][76] - Operating cash flow from continuing operations was $276 million, burdened by approximately $56 million of spin-related items [54][99] Business Line Data and Key Metrics Changes - Diagnostics laboratories revenue was $2.3 billion, a 6.2% increase year-over-year, driven by organic growth of 3.4% and acquisitions contributing 3% [55][101] - Biopharma Laboratory Services revenue increased by 7.9% to $719 million, primarily due to organic revenue growth of 4.9% and foreign currency impact of 3.3% [101] - COVID testing revenue decreased by 87%, significantly impacting overall revenue and margins [55][76] Market Data and Key Metrics Changes - The backlog at the end of the quarter was $7.8 billion, with an expectation of approximately $2.4 billion converting to revenue over the next 12 months [57] - The trailing 12 months book-to-bill ratio was 1.12, indicating a healthy demand despite some cancellations in early development [57][105] Company Strategy and Development Direction - The company aims to drive growth by expanding its base business and integrating hospital and health system partnerships, focusing on specialty testing and companion diagnostics [64][51] - The Launchpad initiative is expected to deliver $350 million in savings over three years, contributing to margin improvement [98][129] - The company is strategically positioned to capitalize on growth in cell and gene therapy, consumer markets, and international expansion through innovative specialty testing [96] Management's Comments on Operating Environment and Future Outlook - The management noted a challenging labor environment but highlighted improvements in retention rates, with expectations for continued progress [28][29] - The company anticipates a 5% to 8% overall enterprise revenue growth from 2023 to 2026, with a focus on maintaining margins despite headwinds from PAMA and reduced COVID testing [50][88] - Management expressed confidence in the strength of the diagnostic business, even during potential recessionary periods, due to its broad-based demand [133] Other Important Information - The company finalized several strategic partnerships, including agreements with Tufts Medicine and Baystate Health, enhancing its presence in key markets [48][66] - The adjusted operating income for diagnostics laboratories was $386 million, or 16.5% of revenue, compared to $440 million or 19.9% last year, reflecting the impact of lower COVID testing [74] Q&A Session Summary Question: Can you comment on the reimbursement negotiations with payers versus CMS? - Management indicated that laboratory developed tests represent less than 10% of volume but are crucial for new specialty areas, emphasizing the importance of getting these tests to patients quickly [5][6] Question: What is the current status of managed care contracting? - Management reported being in a good position with finalized or near-finalized contracts, expecting flat to slightly positive outcomes as they move into the next year [122] Question: How is the labor environment affecting operations? - Management acknowledged a tough labor environment but noted improvements in retention rates and ongoing efforts to manage costs effectively [27][28] Question: What are the expectations for the early development business? - Management stated that early development is a small part of the business, with ongoing evaluations and a focus on strategic partnerships to enhance growth [30][31] Question: How does the company view the impact of PAMA on margins? - Management built in an $80 million downside into the base case for PAMA, with expectations for margin improvement in subsequent years [88][132]

labcorp 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 for U.S. federal income purposes; (ii) potential difficulties with employee retention; (iii) the trading price of the company's stock, competitive actions and other unforeseen changes and general uncertainties in the marketplace; (iv) changes in governmen ...

This presentation contains forward-looking statements, including, but not limited to, statements with respect to (i) the estimated 2023 guidance and related assumptions, (ii) the recently completed spin-off of the company's Clinical Development and Commercialization Services business, now Fortrea Holdings Inc., including statements regarding the expected benefits from the spin-off and the company's ability to realize such benefits, the tax treatment of the spin-off, and opportunities for future growth resul ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number 1-11353 LABORATORY CORPORATION OF AMERICA HOLDINGS (Exact name of registrant as specified in its charter) | Delaware | | 13-375737 ...

Laboratory Corporation of America Holdings (NYSE:LH) Q2 2023 Earnings Conference Call July 27, 2023 9:00 AM ET Company Participants Chas Cook – Vice President-Investor Relations Adam Schechter – Chairman and Chief Executive Officer Glenn Eisenberg – Executive Vice President and Chief Financial Officer Conference Call Participants Jack Meehan – Nephron Research Lisa Gill – JPMorgan A.J. Rice – Credit Suisse Eric Coldwell – Baird Brian Tanquilut – Jefferies Kevin Caliendo – UBS Patrick Donnelly – Citi Kieran ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number 1-11353 LABORATORY CORPORATION OF AMERICA HOLDINGS (Exact name of registrant as specified in its charter) | Delaware | | 13-37573 ...

Laboratory Corporation of America Holdings (NYSE:LH) Q1 2023 Earnings Conference Call April 25, 2023 9:00 AM ET Company Participants Chas Cook – Head-Investor Relations Adam Schechter – Chairman and Chief Executive Officer Glenn Eisenberg – Executive Vice President and Chief Financial Officer Conference Call Participants Ann Hynes – Mizuho Group Jack Meehan – Nephron Research Kevin Caliendo – UBS Brian Tanquilut – Jefferies Patrick Donnelly – Citi Derek DeBruin – Bank of America Tim Daley – Wells Fargo Eric ...

(k) (I) 16 April 25, 2023 Cautionary Statement Regarding Forward-Looking This presentation contains forward-looking statements, including, but not limited to, statements with respect to (i) the estimated 2023 guidance and the longer-term outlook and the related assumptions of each, (ii) the proposed spin-off of the Clinical Development business ("CD"), including statements regarding the expectation that the spin-off transaction ("Transaction") will be consummated, the anticipated timing of the Transaction, ...