Labcorp said revenue for Q1 2024 was $3.18 billion, up 4.6% from $3.04 billion a year earlier, and that its Base Business, which excludes COVID-19 PCR testing, grew 6.7%.

1. 01

   Labcorp said revenue for Q1 2024 was $3.18 billion, up 4.6% from $3.04 billion a year earlier, and that its Base Business, which excludes COVID-19 PCR testing, grew 6.7%.

2. 02

   The company said diluted EPS from continuing operations for Q1 was $2.69 (versus $2.34 a year earlier), adjusted EPS was $3.68 (versus $3.46), and adjusted operating income was $452.8 million, or 14.3% of revenue (versus 14.7% a year earlier).

3. 03

   The company said operating cash flow from continuing operations for Q1 was a use of $29.8 million and capital expenditures were $133.8 million, resulting in a use of $163.6 million in free cash flow (versus $107.5 million generated a year earlier). The company cited lower cash earnings and the timing of working capital requirements as factors in the decline in operating cash flow.

4. 04

   The company said it raised the midpoint and narrowed the range of its full-year 2024 adjusted EPS outlook to $14.45 to $15.35, and that it is keeping its free cash flow outlook at $1.00 billion to $1.15 billion.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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