LH · 10-Q · 2026Q3 · Full report

Liquidity and Debt Position

LABCORP HOLDINGS INC. · 2026-10-30 · Importance 56 · Surprise 58 · From source text

At September 30, 2026, Labcorp held $261.8 million of cash and had $1,000.0 million available under its revolving credit facility, which expires in 2030. Nine-month operating cash flow increased $174.5 million year over year to $1,200.8 million, primarily due to higher cash earnings. The company entered into a $750.0 million term loan maturing March 20, 2028, and used its net proceeds to redeem its 1.55% senior notes due 2026; outstanding senior notes totaled $4,650.0 million. Total future debt payments, net of interest rate swaps, were $5,885.8 million, including $601.7 million due within 12 months; the company reported covenant compliance at September 30, 2026.

Key facts

• Labcorp used $349.4 million in financing activities in the nine months ended September 30, 2026, compared with $1,166.6 million in 2025; the change primarily reflected $750.0 million of 2026 Term Loan proceeds and $500.0 million less in senior-note payments, partly offset by $226.8 million more in stock repurchases and $194.0 million less in net AR Facility proceeds. source
• Labcorp used $1,122.0 million in investing activities in the nine months ended September 30, 2026, compared with $804.1 million in 2025; increased acquisitions and capital expenditures primarily drove the increase, partly offset by lower purchases of equity affiliates or other investments. source
• Labcorp had $261.8 million in cash and cash equivalents at September 30, 2026, compared with $598.1 million at September 30, 2025. source
• Labcorp provided $1,200.8 million of operating cash in the nine months ended September 30, 2026, compared with $1,026.3 million in 2025; the $174.5 million increase was primarily due to higher cash earnings. source
• Labcorp had $1,000.0 million of available borrowings under its revolving credit facility at September 30, 2026; the facility expires in 2030 following a June 27, 2025 amendment. source
• At September 30, 2026, Labcorp had debt instruments, net of interest rate swaps, with total future payments of $5,885.8 million, including $601.7 million payable within 12 months. source
• Labcorp extended the scheduled termination date of its AR Facility to January 26, 2029, through an amendment entered into January 28, 2026. source
• Labcorp was in compliance with all debt covenants at September 30, 2026, and expected continued compliance with existing covenants and leverage ratios for the next 12 months. source

Impact estimates