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Labcorp Holdings (LH) investor relations material

Labcorp Holdings Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary28 Oct, 2025

Executive summary

  • Q3 2025 revenue grew 8.6% year-over-year to $3.56 billion, driven by strong Diagnostics and Biopharma Laboratory Services performance, supported by organic growth, acquisitions, and innovation in specialty testing.

  • Adjusted EPS rose 19% to $4.18, while diluted EPS increased to $3.12 from $2.00; net earnings reached $261.1 million, up 54% year-over-year.

  • Strategic acquisitions and partnerships expanded presence in key markets and specialty areas, with new digital and specialty testing capabilities launched in oncology and neurology.

  • Continued execution of strategy to expand partnerships, enhance test offerings, and leverage technology for operational efficiency.

  • Year-to-date revenues totaled $10.44 billion, up 7.8% year-over-year.

Financial highlights

  • Q3 revenue reached $3.6 billion, up 8.6% year-over-year, with organic growth of 6.2%.

  • Adjusted operating income was $513.3 million (14.4% margin), up from $441.1 million (13.4%) last year.

  • Free cash flow for Q3 was $281 million, up $119 million year-over-year; full-year guidance is $1.17–$1.29 billion.

  • Diagnostics revenue rose 8.5% to $2.8 billion; BLS revenue increased 8.3% to $799 million.

  • Gross margin and operating margin improved due to operational efficiencies and revenue growth.

Outlook and guidance

  • 2025 revenue guidance is $13.97–$14.05 billion, representing 7.4%–8.0% growth; midpoint lowered due to acquisition timing and currency.

  • Adjusted EPS guidance raised to $16.15–$16.50, implying 10.8%–13.2% growth.

  • Free cash flow guidance increased to $1.165–$1.285 billion.

  • Diagnostics expected to grow 7.2%–7.8%, BLS 5.7%–7.1% for the year.

  • Company expects sufficient liquidity for both short- and long-term needs, supported by strong operating cash flow and available credit.

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Frequently asked questions

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. The company offers a range of tests in its human diagnostic division, which is operated under the name of LabCorp. The Division provides testing and analytical services to the clients in health care industry, pharmaceutical companies, manufacturers, academic institutions and government agencies. Its offerings include anatomic pathology services, such as fine needle aspiration cytology (FNAC), cancer genetics/genomics, oncology focused protein marker testing, genetic counseling, and targeted genomic medicine; clinical chemistry test such as quantitative immunoassays and traditional immunoassays for the detection of infectious diseases; molecular diagnostics; microbiology - includes products for culture identification and antimicrobial sensitivity determination for transplant recipients and suspected infectious disease patients. In addition, the announced plans to acquire Knight Diagnostic Laboratories from New Jersey based Knight Human Capital Management. Laboratory Corporation of America Holdingsin is based in Burlington, North Carolina.

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