Labcorp Q3 2026: revenue up 6.9%, adjusted EPS up 14.5%, guidance raised
Labcorp's third quarter was another steady climb: revenue rose 6.9% to $3.81 billion and adjusted EPS gained 14.5% to $4.78, while GAAP EPS of $3.22 barely moved and finished just under the $4.7951 consensus. Management raised full-year revenue and adjusted EPS guidance. Read the gap between GAAP and adjusted first: $167.9 million of charges is why the two lines tell different stories.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS of $3.22 rose 3.3% and landed below the $4.7951 consensus, but that comparison is apples to oranges because consensus tracks the adjusted number, which came in at $4.78 and was also a whisker short. The $1.56 gap between the two lines is $167.9 million of amortization, restructuring, acquisition and LaunchPad costs. Operating income slipped to $402.1 million from $451.6 million in Q2 on those charges, which is why the GAAP line looks soft.
Revenue of $3.81 billion rose 6.9% from $3.56 billion, made up of 5.5% organic growth, 1.5% from acquisitions and a 0.1% currency drag. Diagnostics did the heavy lifting at $2.95 billion, while Biopharma grew 8.5% to $866.7 million. Gross margin edged up to 29.1% from 28.8% a year ago.
Full-year revenue guidance moved to $14.779 billion to $14.887 billion from $14.710 billion to $14.827 billion, and adjusted EPS to $18.30 to $18.70 from $18.10 to $18.55, an 18 cent raise at the midpoint. Free cash flow guidance was left alone at $1.24 billion to $1.36 billion despite $412.2 million of third-quarter free cash flow. Nine-month revenue of $11.0787 billion means the midpoint implies roughly $3.75 billion in Q4, below the $3.86 billion consensus for next quarter.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-03
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