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 ...

Financial Performance - The Company's revenues for the year ended December 31, 2022, were $14.9 billion, a decrease of 7.7% from $16.1 billion in 2021, primarily due to a 7.5% decrease in organic revenue and a 1.0% unfavorable foreign currency translation [330]. - Organic revenue decreased by 7.5%, driven by a 10.0% decline in COVID-19 Testing, partially offset by a 2.5% increase in the Company's organic Base Business [330]. - Total operating income for the company was $1,773.9 million in 2022, down 45.6% from $3,259.5 million in 2021 [359]. - Dx segment operating income decreased by 36.8% to $2,025.5 million in 2022 from $3,205.6 million in 2021, with an operating margin decline of 890 basis points to 22.0% [359]. - DD segment operating income fell by 9.7% to $801.1 million in 2022 from $887.1 million in 2021, primarily due to reduced COVID-19 testing and inflationary costs [360]. - Net cash provided by operating activities was $1,955.9 million in 2022, a decrease of $1,153.7 million from $3,109.6 million in 2021, mainly due to lower cash earnings from decreased COVID-19 revenues [364]. - Income tax expense for 2022 was $302.0 million, a decrease from $747.1 million in 2021, with an effective tax rate of 19.1% compared to 23.9% in the prior year [357]. Shareholder Returns - The Company initiated a dividend program in Q2 2022, with total dividend payments for 2022 amounting to $195.2 million, and authorized a $2.50 billion share repurchase program, repurchasing $1.1 billion in 2022 [332]. - The company repurchased 5.6 million shares at an average price of $233.48 for a total cost of $1,100.0 million in 2022 [373]. - The company paid $195.2 million in common stock dividends for the year ended December 31, 2022 [374]. Business Strategy and Operations - The planned spin-off of the Clinical Development and Commercialization Services (CDCS) business is targeted for mid-2023, creating two independent companies focused on sustainable growth [335][336]. - The Company is committed to investing in R&D and innovation to develop diagnostic advancements in key clinical areas, including oncology and autoimmune diseases [339]. - Total volume measured by requisitions decreased by 7.5%, with organic volume down 8.4% and a 0.8% contribution from acquisitions [345]. - The Company expects continued decline in demand for COVID-19 Testing in 2023, not predicted to match 2022 levels [341]. Impairments and Expenses - The Company recorded goodwill and other asset impairments of $271.5 million in 2022, primarily due to a $260.0 million goodwill impairment in the early development reporting unit [350]. - Selling, general and administrative expenses increased to 13.4% of revenues in 2022, up from 12.1% in 2021, primarily due to lower margin COVID-19 Testing and higher personnel costs [349]. Cash Flow and Investments - Net cash used for investing activities increased to $1,652.2 million in 2022 from $884.6 million in 2021, driven by a $667.1 million increase in cash paid for acquisitions [365]. - Capital expenditures were $481.9 million in 2022, representing 3.2% of revenues, with expectations to increase to approximately 3.5% in 2023 [365]. - Cash and cash equivalents decreased to $430.0 million at December 31, 2022, down from $1,472.7 million at the end of 2021 [363]. Risk Management - The Company utilizes a controlled risk management program to address exposure to market risks, including foreign currency exchange and interest rates [409]. - The Company manages interest rate risk through a mix of fixed and variable rate debt, including interest rate swaps [413]. - The Company entered into fixed-to-variable interest rate swap agreements for the 2.70% senior notes due 2031 with an aggregate notional value of $500.0 million [414]. Foreign Currency Exposure - Approximately 14.7% of the Company's revenues for the year ended December 31, 2022, were denominated in currencies other than the U.S. dollar [410]. - A hypothetical change of 10% in average exchange rates would have impacted income before income taxes for 2022 by approximately $26.9 million [410]. - The Company had 27 open foreign exchange forward contracts with a notional value totaling approximately $629.5 million as of December 31, 2022 [411]. - The Company is party to USD to Swiss Franc cross-currency swap agreements with a notional amount of $600.0 million, maturing in 2024 and 2025 [412].

Laboratory Corporation of America Holdings (NYSE:LH) Q4 2022 Earnings Conference Call February 16, 2023 9:00 AM ET Company Participants Chas Cook - Vice President of Investor Relations Adam Schechter - President, Chief Executive Officer & Chairman Glenn Eisenberg - Executive Vice President & Chief Financial Officer Conference Call Participants Kevin Caliendo - UBS Jack Meehan - Nephron Research Erin Wright - Morgan Stanley Tim Daley - Wells Fargo Patrick Donnelly - Citi Operator Good day, and thank you for ...

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 September 30, 2022 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 ...

Laboratory Corporation of America Holdings (NYSE:LH) Q3 2022 Earnings Conference Call October 27, 2022 9:00 AM ET Company Participants Chas Cook - VP, IR Adam Schechter - President, CEO & Chairman Glenn Eisenberg - CFO & EVP Conference Call Participants Jack Meehan - Nephron Research Erin Wright - Morgan Stanley Patrick Donnelly - Citigroup Eric Coldwell - Robert W. Baird & Co. A.J. Rice - Crédit Suisse Rachel Vatnsdal - JPMorgan Chase & Co. John Kim - Bank of America Merrill Lynch Kevin Caliendo - UBS Oper ...

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, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Securities registered pursuant to Section 12(b) of the Exchange Act. | Title of Each Class | Trading Symbol | Name of exchange on which registered | | --- | --- | --- | | Common Stock, $0.10 par value ...

Laboratory Corporation of America Holdings (NYSE:LH) Q2 2022 Earnings Conference Call July 28, 2022 9:00 AM ET Company Participants Chas Cook - VP, IR Adam Schechter - President, CEO & Chairman Glenn Eisenberg - CFO & EVP Conference Call Participants Rivka Goldwasser - Morgan Stanley A.J. Rice - Crédit Suisse Taji Phillips - Jefferies Jack Meehan - Nephron Research Eric Coldwell - Robert W. Baird & Co. Derik De Bruin - Bank of America Merrill Lynch Matthew Larew - William Blair & Company Rachel Vatnsdal - J ...

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, 2022 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 ...

First Quarter 2022 Supplemental Financial Information April 28, 2022 labcorp Cautionary Statement Regarding Forward-Looking Statements This presentation contains forward-looking statements, including, but not limited to, statements with respect to (i) the estimated 2022 guidance and related assumptions, (ii) the impact of various factors on operating and financial results, including the projected impact of the COVID-19 pandemic on the company's businesses, operating results, cash flows and/or financial cond ...

Laboratory Corporation of America Holdings (NYSE:LH) Q1 2022 Earnings Conference Call April 28, 2022 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 Ricky Goldwasser - Morgan Stanley Eric Coldwell - Baird Operator Good day, and thank you for standing by. Welcome to the Labcorp's First Quarter 20 ...