About Labcorp
Labcorp is a leading global life sciences company that provides vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. Through our unparalleled diagnostics and drug development capabilities, we provide insights and accelerate innovations to improve health and improve lives. With more than 70,000 employees, we serve clients in more than 100 countries. Labcorp (NYSE: LH) reported revenue of $14 billion in FY2020. Learn about Labcorp at www.labcorp.com, or follow us on LinkedIn and Twitter @Labcorp.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements, including, but not limited to, statements with respect to (i) the Company’s plan to initiate a dividend, (ii) the Company’s expectations to repurchase its stock and to enter into an accelerated repurchase program, (iii) the Company’s operations, performance and financial condition, including cash flow generation, balance sheet and investment-grade rating, (iv) the Company’s strategic objectives, including expectations for future investment, growth and deployment of capital and (v) the return to shareholders.
Each of the forward-looking statements is subject to change based on various important factors, many of which are beyond the company’s control, including without limitation, that the timing of share repurchases and the number of shares of common stock that are repurchased depend on market conditions, other developments and any decision by the Company to suspend repurchase activities in the future, the trading price of the Company’s stock, competitive actions and other unforeseen changes and general uncertainties in the marketplace, and the Company’s ability (or inability) to execute on its plans to respond to the outcome of its review of the Company’s structure and changes in capital allocation strategy, changes in government regulations, including healthcare reform, customer purchasing decisions, including changes in payer regulations or policies, other adverse actions of governmental and third-party payers, changes in testing guidelines or recommendations, federal, state, and local government responses to the COVID-19 pandemic, the effect of public opinion on the company’s reputation, adverse results in material litigation matters, the impact of changes in tax laws and regulations, failure to maintain or develop customer relationships, the ability to develop or acquire new products and adapt to technological changes, failure in information technology, systems or data security, the impact of potential losses under repurchase agreements, adverse weather conditions, the number of revenue days in a financial period, employee relations, personnel costs, and the effect of exchange rate fluctuations. These factors, in some cases, have affected and in the future (together with other factors) could affect the Company’s ability to implement its business strategy, and actual results could differ materially from those suggested by these forward-looking statements. As a result, readers are cautioned not to place undue reliance on any of these forward-looking statements.
The Company has no obligation to provide any updates to these forward-looking statements even if its expectations change. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. Further information on potential factors, risks and uncertainties that could affect operating and financial results is included in the Company’s most recent Annual Report on Form 10-K and subsequent Forms 10-Q, including in each case under the heading RISK FACTORS, and in the Company’s other filings with the SEC. The information in this press release should be read in conjunction with a review of the Company’s filings with the SEC including the information in the company’s most recent Annual Report on Form 10-K, and subsequent Forms 10-Q.
Labcorp Contacts
Media: Christopher Allman-Bradshaw — 336-436-8263
[email protected]
Investors: Chas Cook — 336-436-5076
[email protected]