Labcorp Holdings Inc. (LH) Earnings
Labcorp Holdings Inc. is expected to report next earnings on July 23, 2026 (in NaN days), with a consensus EPS estimate of $4.79. LH has beaten EPS estimates in 8 of its last 12 reported quarters (average surprise +3.1% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $4.09 | $4.25 | +3.9% | $3.5B | +0.8% |
| Feb 17, 2026 | $3.95 | $4.07 | +3.0% | $3.5B | +0.5% |
| Oct 28, 2025 | $4.13 | $4.18 | +1.2% | $3.6B | +0.2% |
| Jul 24, 2025 | $4.17 | $4.35 | +4.3% | $3.5B | +1.2% |
| Feb 6, 2025 | $3.39 | $3.45 | +1.8% | $3.3B | +0.7% |
| Oct 24, 2024 | $3.47 | $3.50 | +0.9% | $3.3B | +0.6% |
| Aug 1, 2024 | $3.78 | $3.94 | +4.2% | $3.2B | +1.1% |
| Apr 25, 2024 | $3.48 | $3.68 | +5.7% | $3.2B | +1.9% |
| Feb 15, 2024 | $3.29 | $3.30 | +0.3% | $3.0B | +0.5% |
| Oct 26, 2023 | $3.37 | $3.38 | +0.3% | $3.1B | +2.2% |
| Jul 27, 2023 | $3.47 | $3.42 | -1.4% | $3.0B | -3.8% |
| Feb 16, 2023 | $4.06 | $4.14 | +2.0% | $3.7B | -1.8% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 30, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Partner of choice with health systems and labs: Nationwide collaboration with Children's Hospital of Philadelphia, acquisition of Krause Health Laboratory Alliance assets, and deal with Parkview Health for outreach labs. - Specialty testing progress: Growth in oncology, women's health, neurology, etc., with specialty areas growing 2-3 times faster than broader market. LabCorp supported 85% of FDA-approved new drugs last year. - Consumer health: LabCorp OnDemand launched new tests, My LabCorp app launching in May with AI assistant. - Technology use: Collaboration with PathAI, AWS, Optimum AI to enhance customer experience and operational efficiency. Fortune named LabCorp most innovative for 4th year, and Ethisphere recognized as world's most ethical company.
Guidance
- Enterprise revenue expected to grow 5%-6.1%. - Adjusted EPS guidance range $17.70-$18.35, midpoint raised by 13 cents. - Free cash flow guidance $1.24 billion-$1.36 billion, weighted towards second half. - Diagnostics segment revenue expected to grow 5.1%-5.9%, BLS segment 3.8%-5.4%.
Segment performance
Enterprise revenue reached $3.5 billion, up 6%. Diagnostics revenue increased 5% to $2.8 billion, with 2.9% organic growth, 2% acquisition-driven growth, and 0.2% from foreign currency translation. Biofarmer laboratory services revenue grew to $781 million, up 8.2% with 3.7% organic growth and 5.5% benefit from foreign currency translation. Diagnostics contributes approximately 80% of enterprise revenue, and biopharma laboratory services contributes around 22.3%.
Risks & headwinds
- Weather impact: Approximately $15 million impact in Q1 on diagnostics, organic volume growth would be ~2% without weather. - ACA exchange: Potential 30 basis point volume impact, monitored for insured participants' testing utilization. - CRUSH initiative: CMS effort to reduce fraud, waste, abuse, need to avoid unintended consequences on patient access. - Fuel costs: Estimated $5-$10 million impact this year from dynamic oil prices, mitigated by hybrid vehicles. - Weather uncertainty: Difficult to project weather impact on forecast, but considered in revenue guidance range.
Analyst Q&A
Q: Lisa Gill of JP Morgan asked about weather impact in Q1 and ACA exchange potential changes.
A: Weather had ~$15 million impact, organic volume growth would be ~2% without weather. ACA impact in Q1 was immaterial, but 30 basis point volume impact still expected.
Q: Jack Meehan of Nefron Research asked about CRUSH initiative.
A: Supportive of reducing fraud, waste, abuse, worked with ACLA and submitted comment letter.
Q: Michael Cherney of Learing Partners asked about DX volume and test per requisition.
A: Diagnostics revenue up 5%, organic growth ~3%, volume growth 2.5%, price mix up 2.6%.
Q: Patrick Donnelly of Citi asked about BLS booking trends.
A: BLS revenue up 8%, central labs driving growth, quarterly book-to-bill expected to improve sequentially.
Q: Tycho Peterson of Jefferies asked about esoteric testing and reimbursement.
A: Strong momentum in specialty areas, neurology and oncology growing, reimbursement to improve over time.
Q: Elizabeth Anderson of Evercore ISI asked about PAMA survey and Results Act.
A: Waiting for CBO score and CMS assessments, impact to LabCorp depends on other labs reporting data.
Q: David Westenberg of Piper Sandler asked about consumer testing and investments.
A: LabCorp OnDemand growing double digits, continue to invest in new products, focus on high margin specialty areas.
Q: Michael Riskin of Bank of America asked about Launchpad initiative and margins.
A: Launchpad on track, using tech to reduce costs and improve customer experience, margins improved in Q1.
Q: Luke Sergot of Barclays asked about fuel costs and weather recapture.
A: Minimal impact from fuel costs, weather impact on 20-25% of business recaptured over time, no explicit weather assumption in forecast.
Q: Erin Wright of Morgan Stanley asked about deal pipeline.
A: Pipeline remains strong, health systems looking for partnerships, expect more deals in future.