01—Abstract
Summary
Summary of the 8-K filed July 30, 2026. Cited figures are marked; the original filing is the authoritative source.
Labcorp Holdings Inc. (NYSE: LH) furnished an 8-K on July 30, 2026, under Item 2.02 (Results of Operations and Financial Condition), attaching a press release announcing its second quarter 2026 results and raising its full-year 2026 guidance.
Second-quarter revenue was $3.73 billiona versus $3.53 billion a year earlier, up 5.8%. Diluted EPS was $3.64 versus $2.84, and adjusted EPS was $4.99 versus $4.35, up 14.9%. Operating income was $451.6 million, and adjusted operating income was $588.7 million, or 15.8% of revenue versus 15.1% a year earlier.
Free cash flow for the quarter was $313.9 millionb, compared with $542.7 million a year earlier, which the company attributed primarily to working capital timing and planned increases in capital expenditures. The company raised its 2026 enterprise revenue guidance to $14,710 million to $14,827 million (5.4% to 6.3% growth) and its adjusted EPS guidance to $18.10 to $18.55, up 30 cents at the midpoint. Free cash flow guidance was unchanged at $1,240 million to $1,360 million.
Segment results were mixed in detail: Diagnostics Laboratories revenue rose 5.5% with adjusted operating margin of 18.0%, while Biopharma Laboratory Services revenue rose 6.5% with adjusted operating margin of 17.0%. Capital allocation was active during the quarter. Labcorp invested $225.7 millionc in acquisitions, repurchased $353.8 million of stock, paid $58.7 million in dividends, and retired $500.0 million of senior notes in June.
In July the Board approved a $1.0 billiond increase in the share repurchase authorization, bringing the remaining total to $1.4 billion. Total debt at quarter-end was $5.86 billion against cash of $141.8 million.
02—Key points
Key Highlights
- Q2 2026 revenue of $3.73 billion, up 5.8% from $3.53 billion; organic growth was 4.2%, with acquisitions contributing 1.2% and foreign exchange 0.4%.
- Q2 2026 diluted EPS of $3.64 versus $2.84, and adjusted EPS of $4.99 versus $4.35, up 14.9%.
- Full-year 2026 enterprise revenue guidance raised to $14,710–$14,827 million (5.4%–6.3% growth) and adjusted EPS guidance raised to $18.10–$18.55, up 30 cents at the midpoint.
- Free cash flow for Q2 2026 was $313.9 million, down from $542.7 million, mainly due to working capital timing and higher capital expenditures; full-year free cash flow guidance held at $1,240–$1,360 million.
- Board approved a $1.0 billion increase in the share repurchase authorization in July, leaving $1.4 billion remaining.
- Diagnostics Laboratories adjusted operating margin reached 18.0% (up from 17.6%), and Biopharma Laboratory Services adjusted operating margin reached 17.0% (up from 15.7%).
- Biopharma backlog stood at $8.73 billion as of June 30, 2026, with trailing-twelve-month book-to-bill of 1.03.
03—Questions
Frequently Asked Questions
How did Labcorp perform in the second quarter of 2026?
Revenue rose 5.8% to $3.73 billion, adjusted operating margin expanded to 15.8% from 15.1%, and adjusted EPS grew 14.9% to $4.99. Diluted EPS was $3.64 versus $2.84 a year earlier.
What changed in full-year 2026 guidance?
Enterprise revenue guidance was raised to $14,710–$14,827 million from $14,649–$14,803 million, implying 5.4%–6.3% growth. Adjusted EPS guidance was raised to $18.10–$18.55 from $17.70–$18.35. Free cash flow guidance was unchanged at $1,240–$1,360 million.
Why did free cash flow decline in the quarter?
Free cash flow was $313.9 million versus $542.7 million a year earlier. The company attributed the difference primarily to working capital timing and planned increases in capital expenditures, which were $131.6 million in the quarter versus $77.9 million.
What did Labcorp do with its capital in the quarter?
Labcorp invested $225.7 million in acquisitions, repurchased $353.8 million of stock, paid $58.7 million in dividends, and retired $500.0 million of senior notes in June. A quarterly dividend of $0.72 per share was declared, payable September 11, 2026.
What is the company's debt and liquidity position?
At June 30, 2026, cash and cash equivalents were $141.8 million and total debt was $5.86 billion, according to the capital allocation summary in the press release.
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