Labcorp Holdings (NYSE:LH), a leading global life sciences company, today announced its financial results for the fourth quarter and full year of 2024, reporting significant revenue growth and issuing a positive outlook for 2025.
For the fourth quarter, Labcorp reported revenue of $3.33 billion, a 9.8% increase compared to $3.03 billion in the same period last year.
Full-year 2024 revenue reached $13.01 billion, up from $12.16 billion in 2023.
The company attributed this strong performance to a combination of organic growth and strategic transactions.
Adjusted earnings per share (EPS) for the fourth quarter were $3.45, compared to $3.30 in the fourth quarter of 2023, demonstrating the company's robust financial health.
A notable contributor to this growth was the company's biopharma laboratory services unit, which saw a 10.4% increase in sales, reaching $767 million in the fourth quarter.
This unit provides contract research facilities for biopharmaceutical companies.
Looking forward to 2025, Labcorp anticipates continued growth, projecting revenues between $13.88 billion and $14.05 billion.
The company also forecasts adjusted EPS to range from $15.60 to $16.40.