$LH · LABCORP HOLDINGS INC.
Labcorp filed an 8-K disclosing its 2026 Investor Day presentation, where it reaffirmed full-year 2026 guidance and introduced a long-term financial outlook through 2029. The company targets compound annual revenue growth of 5% to 8%, adjusted EPS CAGR of 8.5% to 11.5%, and adjusted operating margin expansion of 75 to 150 basis points by 2029. FY2026 guidance includes enterprise revenue of $14,710M–$14,827M, adjusted EPS of $18.10–$18.55, and free cash flow of $1,240M–$1,360M.
- Reaffirmed FY2026 adjusted EPS guidance of $18.10–$18.55 on enterprise revenue of $14,710M–$14,827M.
- Long-term outlook through 2029: compound annual revenue growth of 5%–8% and adjusted EPS CAGR of 8.5%–11.5%.
- Adjusted operating margin expected to expand 75–150 basis points by end of 2029.
- FY2026 free cash flow guidance of $1,240M–$1,360M, with long-term FCF growth in line with adjusted earnings.
- Four strategic priorities: specialty testing, health system/pharma partnerships, personalized health, and AI/robotics.
Stock down 4.40% in regular session to $306.96, with an additional 1.44% decline since filing. The selloff suggests the long-term targets, while positive, may not have exceeded elevated investor expectations heading into the event.
A $25B diagnostics leader laying out multi-year growth targets gives investors a concrete yardstick to measure execution against — and the stock's negative reaction suggests the market priced in more.
Labcorp's 5%–8% revenue CAGR target through 2029 positions it for above-market growth in the diagnostics and CRO space, leveraging its dual-platform structure spanning both routine diagnostics and biopharma laboratory services.
Forward-looking statements caveat cites risks including payer regulation changes, competitive actions, inflation, exchange rate fluctuations, and potential IT/data security failures that could derail the 2029 outlook.
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