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Cover and table of contents

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Cover and table of contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2026

or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ______ to ______

Commission file number 1-11353

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LABCORP HOLDINGS INC.

(Exact name of registrant as specified in its charter)

Delaware99-2588107
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
358 South Main Street
Burlington,North Carolina27215
(Address of principal executive offices)(Zip Code)

(Registrant’s telephone number, including area code) 336-229-1127

Securities registered pursuant to Section 12(b) of the Act.

Title of each classTrading SymbolName of exchange on which registered
Common Stock, $0.10 par valueLHNew York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☒Accelerated filer☐
Non-accelerated filer☐Smaller reporting company☐
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of May 1, 2026, there were 82.0 million shares of the registrant’s common stock, $0.10 par value, outstanding.

TABLE OF CONTENTS

Page
Commonly Used Abbreviations2
Part I. Financial Information
Item 1.Financial Statements3
Condensed Consolidated Balance Sheets (Unaudited)3
Condensed Consolidated Statements of Operations (Unaudited)4
Condensed Consolidated Statements of Comprehensive Earnings (Unaudited)5
Condensed Consolidated Statements of Changes in Shareholders’ Equity (Unaudited)6
Condensed Consolidated Statements of Cash Flows (Unaudited)7
Notes to the Condensed Consolidated Financial Statements (Unaudited)8
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations21
Item 3.Quantitative and Qualitative Disclosures about Market Risk28
Item 4.Controls and Procedures29

Part II. Other Information

Item 1.Legal Proceedings30
Item 1A.Risk Factors30
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds30
Item 3.Defaults Upon Senior Securities30
Item 4.Mine Safety Disclosures30
Item 5.Other Information30
Item 6.Exhibits31
Signatures32

COMMONLY USED ABBREVIATIONS

The abbreviations listed below may be commonly used in this report.
AMCAAmerican Medical Collection Agency
Annual ReportAnnual Report on Form 10-K for the fiscal year ended December 31, 2025
AR Facilityaccounts receivable securitization facility
ASUAccounting Standards Update
BLSBiopharma Laboratory Services
Boardboard of directors of Labcorp Holdings Inc.
CODMchief operating decision maker
Common Stockcommon stock, par value $0.10 per share
CROcontract research organization
DCPdeferred compensation plan
DxDiagnostics Laboratories
EDEarly Development Research Laboratories
EPSearnings per share
FASBFinancial Accounting Standards Board
FortreaFortrea Holdings Inc.
GAAPU.S. generally accepted accounting principles
LCAHLaboratory Corporation of America Holdings
MCOmanaged care organization
N/Anot applicable
OBBBAOne Big Beautiful Bill Act
OCRU.S. Office of Civil Rights
ParkviewParkview Health System, Inc.
PSCpatient service center
S&PStandard & Poor’s
SECU.S. Securities and Exchange Commission
SG&Aselling, general, and administrative expenses
SOFRsecured overnight financing rate
Spin-offJune 2023 spin-off of Fortrea
SPVbankruptcy-remote special purpose vehicle
2026 Term Loanterm loan credit agreement entered on March 20, 2026
TSAtransition services agreement with Fortrea
U.K.United Kingdom
U.S.United States of America
USDU.S. Dollar

PART I. FINANCIAL INFORMATION

Next: Item 1. FINANCIAL STATEMENTS