LH - Laboratory Corporation of America reports mixed Q1 earnings; narrows FY23 EPS outlook

2023-04-25 07:05:24 ET

• Laboratory Corporation of America press release ( NYSE: LH ): Q1 Non-GAAP EPS of $3.82 misses by $0.14 .
• Revenue of $3.8B (-2.6% Y/Y) beats by $100M .
• Free Cash Flow: Q1 of $27 million versus $239 million last year
• Planned spin of Clinical Development business remains on schedule for mid-2023.
• Full-Year 2023 Guidance: Adjusted EPS narrowed to $16.25 to $17.75 with midpoint unchanged vs. consensus of $17.30 and Free Cash Flow remains at $1.0 billion to $1.2 billion

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