LH FY 2020 Earnings Report — Labcorp Holdings Inc. Revenue & Financial Results | Market Cap Arena

Labcorp Holdings Inc.LH

FY 2020 Earnings

Reported February 25, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$14.0B	—	$11.6B	—	21.0%
Op. Income	$2.4B	—	$1.3B	—	83.8%
Gross Margin	35.4%	—	28.1%	—	7.3pp
Net Margin	11.1%	—	7.1%	—	4.0pp
EPS (Diluted)	$15.88	—	$8.36	—	90.0%
Free Cash Flow	$1.8B	—	$1.0B	—	67.9%

Revenue Flow

Item	Amount
REVENUE	$14.0B
Cost of Revenue	$9.0B
GROSS PROFIT	$5.0B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.7B
Other Expenses	$778M
Operating Expenses	$2.5B
Cost & Expenses	$11.5B
OPERATING INCOME	$2.4B
Interest Income	$0
Interest Expense	$207M
Other Income/Expenses	-$226M
INCOME BEFORE TAX	$2.2B
Income Tax Expense	$662M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.6B
D&A	$825M
EBIT	$2.4B
EBITDA	$3.3B
EPS	$16
EPS Diluted	$16

Income Statement

Item	Amount
REVENUE	$14.0B
Cost of Revenue	$9.0B
GROSS PROFIT	$5.0B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.7B
Other Expenses	$778M
Operating Expenses	$2.5B
Cost & Expenses	$11.5B
OPERATING INCOME	$2.4B
Interest Income	$0
Interest Expense	$207M
Other Income/Expenses	-$226M
INCOME BEFORE TAX	$2.2B
Income Tax Expense	$662M
Net Income from Continuing Ops	$1.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.6B
D&A	$825M
EBIT	$2.4B
EBITDA	$3.3B
EPS	$16
EPS Diluted	$16

Cash Flow Statement

Item	Amount
Net Income	$1.6B
Depreciation & Amortization	$625M
Stock-Based Compensation	$112M
Deferred Income Tax	-$47M
Other Non-Cash Items	$746M
Change in Working Capital	-$857M
OPERATING CASH FLOW	$2.1B
Capital Expenditure	-$382M
Acquisitions (Net)	-$268M
Purchases of Investments	-$40M
Sales/Maturities of Investments	$4M
Other Investing Activities	$42M
NET CASH FROM INVESTING	-$643M
Net Debt Issuance	-$412M
Common Stock Repurchased	-$135M
Common Dividends Paid	$0
Other Financing Activities	$29M
NET CASH FROM FINANCING	-$517M
FREE CASH FLOW	$1.8B
Net Change in Cash	$983M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.3B
Short-Term Investments	$0
Net Receivables	$3.0B
Inventory	$423M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$5.1B
PP&E (Net)	$2.7B
Goodwill	$7.8B
Intangible Assets	$4.0B
Long-Term Investments	$74M
Tax Assets	$21M
Other Non-Current Assets	$410M
TOTAL NON-CURRENT ASSETS	$14.9B
TOTAL ASSETS	$20.1B
Account Payables	$639M
Short-Term Debt	$377M
Deferred Revenue	$507M
Other Current Liabilities	$623M
TOTAL CURRENT LIABILITIES	$3.1B
Long-Term Debt	$5.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$829M
Other Non-Current Liabilities	$526M
TOTAL NON-CURRENT LIABILITIES	$7.5B
TOTAL LIABILITIES	$10.6B
Common Stock	$9M
Additional Paid-In Capital	$110M
Retained Earnings	$9.5B
Treasury Stock	$0
Accum. Other Comp. Income	-$162M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$9.4B
Minority Interest	$21M
TOTAL EQUITY	$9.5B
TOTAL LIABILITIES & EQUITY	$20.1B
Total Debt	$6.8B
Net Debt	$5.4B