Highlights

  • Third quarter 2026 revenue was $3,810.0 million, diluted EPS was $3.22 and adjusted EPS, a non-GAAP measure, was $4.78.
  • Operating cash flow was $563.8 million and free cash flow was $412.2 million in the third quarter of 2026.
  • Updated 2026 guidance calls for enterprise revenue of $14,779 million to $14,887 million and adjusted EPS of $18.30 to $18.70.
  • Labcorp announced or closed four transactions and announced a quarterly dividend of $0.72 per share on October 21, 2026.

Labcorp Holdings Inc. (NYSE:LH) shares were trading at USD 363.94 on October 28, 2026, up 9.90%, with a relative volume at time of 3.51. The laboratory services company announced a quarterly dividend on October 21, signed three acquisition agreements after quarter end and reported third quarter 2026 results with raised full-year guidance on October 28.

Labcorp Holdings Inc. is incorporated in Delaware and lists its principal executive offices in Burlington, North Carolina. The company provides laboratory services through two segments, Diagnostics Laboratories and Biopharma Laboratory Services. Biopharma Laboratory Services reports Central Labs and Early Development results. The company also runs Labcorp OnDemand, which offers consumer health tests and panels, and its common stock trades on the New York Stock Exchange.

Third Quarter Results

Labcorp reported revenue of $3,810.0 million for the third quarter ended September 30, 2026, compared with $3,563.5 million a year earlier, an increase of 6.9%. The release states that organic revenue growth was 5.5%, acquisitions net of divestitures added 1.5% and foreign exchange was (0.1%).

Operating income was $402.1 million, compared with $396.6 million. Net earnings attributable to Labcorp Holdings Inc. were $262.8 million, compared with $261.1 million. Diluted EPS was $3.22, compared with $3.12. On a non-GAAP basis, adjusted operating income was $570.0 million, compared with $513.3 million, and adjusted EPS was $4.78, compared with $4.18.

For the nine months, revenue was $11,078.7 million, compared with $10,435.9 million, diluted EPS was $10.22, compared with $8.48, and adjusted EPS was $14.02, compared with $12.37.

Segments, Cash Flow and Capital

Diagnostics Laboratories revenue was $2,948.9 million, compared with $2,769.6 million, and adjusted operating income was $491.6 million. Biopharma Laboratory Services revenue was $866.7 million, compared with $799.1 million, and adjusted operating income was $159.0 million. The release states that Central Labs revenue growth was 11.5% and Early Development revenue growth was 0.4%. Biopharma Laboratory Services backlog was $8.92 billion at September 30, 2026, with trailing twelve-month net orders of $3.59 billion and a trailing twelve-month book to bill of 1.10.

Operating cash flow was $563.8 million, compared with $387.2 million. Capital expenditures were $151.6 million, and free cash flow, a non-GAAP measure, was $412.2 million. Cash and cash equivalents were $261.8 million and total debt was $5.85 billion at quarter end. In the quarter, the company invested $255.5 million in acquisitions and paid $58.2 million in dividends. It has $1.4 billion remaining under its board-authorized share repurchase program.

Developments

The company said it acquired MLM Medical Labs in the quarter. After quarter end it signed agreements to acquire select assets of BioReference Health's laboratory testing businesses, Myriad Genetics' Prenatal Health testing business and Millennium Health, each subject to regulatory approvals and customary closing conditions. It also received FDA approval of the PGDx elio tissue complete CDx as a companion diagnostic for advanced melanoma. After quarter end, it launched the FDA-cleared Elecsys pTau-217 blood test and announced a collaboration with Waters Corporation on the BD Onclarity HPV assay.

On October 21, 2026, the company announced a quarterly cash dividend of $0.72 per share, payable December 11, 2026, to stockholders as of November 24, 2026.

Updated 2026 Guidance

Labcorp updated its 2026 guidance, which assumes foreign exchange rates as of September 30, 2026 and includes the estimated impact of anticipated acquisitions, share repurchases and dividends. Enterprise revenue is now $14,779 million to $14,887 million, compared with previous guidance of $14,710 million to $14,827 million. Revenue growth is 5.9% to 6.7%.

Adjusted EPS is now $18.30 to $18.70, compared with previous guidance of $18.10 to $18.55. Free cash flow guidance is $1,240 million to $1,360 million, unchanged from the previous range.