Labcorp sets long-term growth targets at investor day

Labcorp (NYSE: LH) held its 2026 Investor Day on Sept. 10, reaffirming full-year 2026 guidance and presenting a financial outlook through 2029, according to a company press release.

The Burlington, N.C.-based laboratory services company projects compound annual revenue growth of 5% to 8% and compound annual adjusted earnings per share growth of 8.5% to 11.5% through 2029. The company also expects adjusted operating margin expansion of 75 to 150 basis points by the end of 2029, with free cash flow growth in line with adjusted earnings growth.

For full-year 2026, Labcorp affirmed enterprise revenue guidance of $14,710 million to $14,827 million, representing growth of 5.4% to 6.3% from 2025 enterprise revenue of $13,952 million. Adjusted EPS guidance stands at $18.10 to $18.55, and free cash flow is projected between $1,240 million and $1,360 million. The guidance includes a 0.4% foreign currency translation impact and assumes foreign exchange rates effective as of June 30, 2026.

By segment, Diagnostics Laboratories revenue is guided at $11,450 million to $11,532 million, reflecting growth of 5.3% to 6.0%. Biopharma Laboratory Services revenue is guided at $3,269 million to $3,300 million, with growth of 5.5% to 6.5%, including a 1.5% foreign currency translation impact.

Chairman and CEO Adam Schechter said the company's growth strategy supports expectations for above-market performance. CFO Julia Wang said confidence in the outlook is "grounded in a proven record of delivering on our commitments."

The company outlined four strategic priorities: expanding specialty testing in oncology, neurology, autoimmune diseases and women's health; serving health systems and pharmaceutical companies; developing personalized health solutions; and deploying artificial intelligence and robotics.

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