Labcorp Announces Strong 2024 Fourth Quarter and Full Year Results

Labcorp Holdings Inc. (NYSE: LH) has revealed its financial outcomes for the fourth quarter and full fiscal year of 2024, along with providing guidance for 2025. The company displayed notable achievements across various aspects of its operations, showcasing significant growth compared to the previous year.

In the fourth quarter of 2024, Labcorp reported revenues of $3.33 billion, a marked increase from $3.03 billion in the same period the previous year. For the full year of 2024, the company achieved revenues of $13.01 billion, up from $12.16 billion in 2023. This spike in revenue is reflected in the company’s diluted earnings per share (EPS), which stood at $1.70 for Q4 2024 compared to $(1.95) in Q4 2023 and $8.84 for the whole year 2024 compared to $4.33 in 2023.

Labcorp’s adjusted EPS also exhibited a growth pattern, with Q4 2024 showing $3.45 versus $3.30 in Q4 2023 and $14.57 for the entire year compared to $13.56 in the preceding year. The company particularly excelled in free cash flow, achieving $665.1 million in Q4 2024 from $412.4 million in Q4 2023 and $1.10 billion for the full year compared to $748.7 million in 2023.

The year 2024 saw Labcorp making strides in innovation and growth, with the announcement of 10 transactions and the launch of new tests catering to critical medical needs in various specialty areas. Additionally, the company provided guidance for the full-year 2025, predicting revenues between $13.88 billion and $14.05 billion, with adjusted EPS expected to range from $15.60 to $16.40.

Labcorp continually enhanced its offerings and services throughout 2024. This includes launching new tests like the H5 bird flu molecular test and a Multiple Sclerosis Monitoring Profile. Moreover, the company strengthened collaborations with healthcare institutions like Inspira Health, expanding its reach and impact in the healthcare sector.

Labcorp also declared a quarterly cash dividend of $0.72 per share of common stock, payable on March 12, 2025, to stockholders as of February 27, 2025. This dividend reflects the company’s commitment to delivering shareholder value and maintaining financial stability.

As Labcorp looks forward to 2025, the company’s Chairman and CEO, Adam Schechter, expressed confidence in sustaining growth, focusing on both Diagnostics Laboratories and Biopharma Laboratory Services. The firm aims to drive strong financial performance while prioritizing advancements in healthcare and patient outcomes globally.

Labcorp’s positioning to drive growth and innovation in line with evolving healthcare needs sets a robust foundation for the company’s future prospects.

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This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Laboratory Co. of America’s 8K filing here.

Laboratory Co. of America Company Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.