Labcorp Holdings (LH) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Labcorp published the results on October 28, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Labcorp reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Labcorp's segment revenues are reported before intercompany eliminations; the eliminations row is from the segment note in the 10-Q, so the rows sum to total revenue.

Source: Labcorp Q3 2026 results, October 28, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Labcorp splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Labcorp's Diagnostics Laboratories revenue was $2.9 billion in Q3 2026, up 6% from $2.8 billion in Q3 2025, 77% of total revenue.
• Labcorp's Biopharma Laboratory Services revenue was $867 million in Q3 2026, up 8% from $799 million in Q3 2025, 23% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Labcorp said:

“Revenue growth range of 5.9% to 6.7%; up 50 basis points at the midpoint”

“Adjusted EPS range of $18.30 to $18.70; up 18 cents at the midpoint”

“The following guidance assumes foreign exchange rates effective as of September 30, 2026.”

“2026 Updated Enterprise guidance includes an impact from foreign currency translation of 0.3%.”

Source: Labcorp Q3 2026 release, Oct 28, 2026.

This is the company's own guidance as of Oct 28, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the LH forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Revenues and GAAP diluted EPS, each as first reported in that quarter's earnings release.

We do not hold a confirmed date for Labcorp's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 28, 2026

Labcorp has two segments. In Q3 2026 Diagnostics Laboratories, its clinical testing network across the U.S. and Canada, produced $2,948.9 million of revenue, and Biopharma Laboratory Services, which runs central lab and early development work for drug developers, produced $866.7 million. After $5.6 million of intercompany eliminations, total revenue was $3,810.0 million, up 6.9%. (Labcorp Q3 2026 release, Oct 28, 2026; Labcorp Form 10-Q, Q3 2026, Oct 30, 2026; Labcorp Form 10-K, 2025, Feb 24, 2026)

Labcorp's growth was mostly organic. Enterprise organic revenue grew 5.5%, acquisitions net of divestitures added 1.5% and foreign exchange took off 0.1%. In Diagnostics Laboratories revenue rose 6.5%, with organic growth of 4.4%; requisition volume rose 4.8% in total and 3.1% organically, and price/mix added 1.7%. (Labcorp Q3 2026 release, Oct 28, 2026)

Biopharma Laboratory Services revenue rose 8.5%, or 9.6% organically. Within it Central Labs revenue grew 11.5% and Early Development 0.4%. The segment's backlog was $8.92 billion at September 30, 2026, up 3.9% from a year earlier, with $2.82 billion expected to convert to revenue over the next twelve months. (Labcorp Q3 2026 release, Oct 28, 2026)

Labcorp's 10-K breaks down where its fiscal 2025 revenue of $13,951.7 million came from. Third party payers, primarily managed care organizations, accounted for 37%, clients such as physicians, hospitals and health systems 23%, patients 10% and Medicare and Medicaid 8%, all in Diagnostics. Pharmaceutical, biotechnology, medical device and diagnostic companies and CROs accounted for the other 22%, and 87% of total revenue came from North America. (Labcorp Form 10-K, 2025, Feb 24, 2026)

Labcorp's GAAP diluted EPS was $3.22 in Q3 2026 and its adjusted EPS $4.78. Adjusted net income of $390.3 million adds $167.9 million of operating adjustments to net income of $262.8 million: $78.7 million of amortization, $28.6 million of LaunchPad business process costs, $23.0 million of acquisition and disposition-related costs and $15.9 million of restructuring charges, plus a $10.9 million equity method loss from the SYNLAB investment, less a $51.0 million tax impact. (Labcorp Q3 2026 release, Oct 28, 2026)

Labcorp's GAAP operating margin fell to 10.6% from 11.1% as operating adjustments rose to $167.9 million from $116.7 million, while adjusted operating margin rose 60 bps to 15.0%. Labcorp attributed the adjusted improvement to organic growth and operating efficiencies. (Labcorp Q3 2026 release, Oct 28, 2026)

Buybacks cut Labcorp's diluted share count to 81.6 million from 83.7 million. In the first nine months of 2026 it purchased 1.7 million shares at an average price of $263.12 for a total cost of $451.8 million, and it has $1.4 billion remaining under its repurchase authorization. It paid $58.2 million of dividends in the quarter and declared a quarterly dividend of $0.72 per share on October 21, 2026. (Labcorp Q3 2026 release, Oct 28, 2026; Labcorp Form 10-Q, Q3 2026, Oct 30, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Labcorp gives full-year guidance in its release and raised it in Q3 2026. It now expects enterprise revenue of $14,779 million to $14,887 million, growth of 5.9% to 6.7%, up 50 basis points at the midpoint, and adjusted EPS of $18.30 to $18.70, up 18 cents at the midpoint. Free cash flow guidance was unchanged at $1,240 million to $1,360 million. (Labcorp Q3 2026 release, Oct 28, 2026)

By segment, the updated guidance is Diagnostics Laboratories revenue of $11,475 million to $11,551 million and Biopharma Laboratory Services revenue of $3,328 million to $3,358 million, the latter including a 1.3% foreign currency translation impact. The guidance assumes foreign exchange rates as of September 30, 2026 and includes currently anticipated acquisitions, share repurchases and dividends. (Labcorp Q3 2026 release, Oct 28, 2026)

A consensus figure is the average of the models published by the analysts who cover Labcorp, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Labcorp's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning LH is on is LH a buy or a sell?, what analysts expect next is on the LH forecast, and what the company does is on the Labcorp Holdings (LH) stock page.

Every number on this page can be traced to a document Labcorp published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.