- Labcorp has narrowed its full year adjusted EPS forecast for 2024, now estimating it at $14.45 to $15.35.
- This adjusted EPS range has been slightly altered from the previous forecast which was $14.30 to $15.40.
- In the first quarter results, the adjusted EPS was $3.68 with the generated revenue of $3.18 billion.
- The adjusted operating margin for the same period stood at 14.3%.
- Labcorp’s update on the full-year 2024 guidance reflects its first quarter performance and the outlook for the rest of the year.
- The midpoint range of EPS has been raised and its range narrowed as part of the 2024 guidance update.
- For the full year of 2024, the free cash flow is still expected to remain in the range of $1.00 billion to $1.15 billion.
- The company’s stock currently has 13 buys, 7 holds, and 0 sells, indicating a positive investor interest.
Laboratory Corporation of America Holdings on Smartkarma
Analysts on Smartkarma, like Baptista Research, have been closely monitoring Laboratory Corporation of America Holdings‘ performance. According to Baptista Research‘s report titled “Laboratory Corporation of America (LabCorp): Significant Growth Momentum In The Diagnostics & Women’s Health Can Revolutionize Growth? – Major Drivers,” LabCorp’s Q4 2023 showcased strong base business revenue growth. The company reported revenues of $3 billion, adjusted earnings per share of $3.30, and free cash flow from operations (excluding spin-related items) amounted to $422 million. Notably, enterprise revenue experienced a 4% increase compared to Q4 2022, driven by an 8% growth in the Diagnostics business and a 7% growth in the Biopharma business.
A look at Laboratory Corporation of America Holdings Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 2 | |
| Growth | 2 | |
| Resilience | 2 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 2.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on Smartkarma Smart Scores, Laboratory Corporation of America Holdings shows a balanced outlook for the long term. With a Value score of 3, the company is considered fairly valued relative to its peers. The Dividend, Growth, Resilience, and Momentum scores all fall in the mid-range, with ratings of 2 or 3, indicating moderate performance across these factors. Laboratory Corporation of America Holdings is a clinical laboratory company that offers a range of clinical laboratory tests used in routine testing, patient diagnosis, and disease monitoring and treatment. The company also specializes in oncology testing, HIV genotyping and phenotyping, diagnostic genetics, and clinical trials.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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