Labcorp Reaffirms 2026 Guidance and Outlines 2026–2029 Long-Term Targets at Investor Day

Executive Summary

On September 10, 2026, Labcorp Holdings Inc. (NYSE: LH) filed a Current Report on Form 8-K under Item 7.01 (Regulation FD Disclosure) and Item 9.01 (Financial Statements and Exhibits) in connection with hosting its 2026 Investor Day.

During the event, Labcorp's leadership team provided an in-depth review of the company's long-term growth strategy, innovation roadmap, reaffirmed its full-year 2026 guidance, and introduced long-term financial targets through 2029.

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Full-Year 2026 Guidance (Reaffirmed)

Labcorp reiterated its full-year 2026 outlook previously updated on July 30, 2026:

• Enterprise Revenue: $14,710M to $14,827M (representing 5.4% to 6.3% YoY growth)
  • Diagnostics Laboratories: $11,450M to $11,532M (5.3% to 6.0% growth)
  • Biopharma Laboratory Services: $3,269M to $3,300M (5.5% to 6.5% growth)
• Adjusted EPS: $18.10 to $18.55
• Free Cash Flow: $1,240M to $1,360M

Assumptions include foreign exchange rates effective as of June 30, 2026, and enterprise guidance incorporates anticipated capital allocation actions (acquisitions, share buybacks, and dividends).

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Long-Term Financial Outlook (2026 – 2029 Targets)

Labcorp established multi-year targets covering the 2026–2029 period:

• Revenue Compound Annual Growth Rate (CAGR): 5.0% to 8.0%
• Adjusted Operating Margin Expansion: 75 to 150 basis points cumulative expansion by year-end 2029
• Adjusted EPS CAGR: 8.5% to 11.5%
• Free Cash Flow: Compound annual growth projected to track in line with adjusted earnings growth

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Key Strategic Pillars

1. Specialty Testing Expansion: Scaling high-growth specialty diagnostics across Oncology (15% CAGR), Neurology (25% CAGR), Autoimmune (15% CAGR), and Women’s Health (10% CAGR).
2. Health Systems & Biopharma Partnerships: Deepening embedded relationships across 4,000 nationwide hospitals and top 20 global pharmaceutical companies.
3. Personalized Health Solutions: Leveraging longitudinal clinical trial data and diagnostics insights across >75M contactable patients.
4. Operational Efficiency & Technology: Integrating AI diagnostic support, automated specimen flows, and robotics across logistics and central laboratory infrastructure.