Laboratory Corporation of America Holdings (LH) Q3 2022 Earnings Call Transcript

Laboratory Corporation of America Holdings (NYSE:LH) Q3 2022 Earnings Conference Call October 27, 2022 9:00 AM ET

Company Participants

Chas Cook - VP, IR

Adam Schechter - President, CEO & Chairman

Glenn Eisenberg - CFO & EVP

Conference Call Participants

Jack Meehan - Nephron Research

Erin Wright - Morgan Stanley

Patrick Donnelly - Citigroup

Eric Coldwell - Robert W. Baird & Co.

A.J. Rice - Crédit Suisse

Rachel Vatnsdal - JPMorgan Chase & Co.

John Kim - Bank of America Merrill Lynch

Kevin Caliendo - UBS

Operator

Good day, ladies and gentlemen, and thank you for standing by. Welcome to the Labcorp Third Quarter 2022 Earnings Conference Call. [Operator Instructions].

At this time, I would like to turn the conference over to Mr. Chas Cook. Sir, please begin.

Chas Cook

Thank you, operator. Good morning and welcome to Labcorp's Third Quarter 2022 Conference Call. As detailed in today's press release, there will be a replay of this conference call available via telephone and Internet. With me today are Adam Schechter, Chairman and Chief Executive Officer; and Glenn Eisenberg, Executive Vice President and Chief Financial Officer.

This morning, in the Investor Relations section of our website at www.labcorp.com, we posted both our press release and an Investor Relations presentation with additional information on our business and operations, which include a reconciliation of the non-GAAP financial measures to the GAAP financial measures discussed during today's call.

Additionally, we are making forward-looking statements. These forward-looking statements include, but are not limited to, statements with respect to the estimated 2022 guidance and the related assumptions; the proposed spin-off of the Clinical Development business; the impact of various factors on the company's businesses, operating and financial results, cash flows and/or financial condition, including the COVID-19 pandemic and general economic and market conditions; future business strategies; expected savings and synergies, including from the LaunchPad initiative, acquisitions and other transactions; and opportunities for future growth.

Each of the forward-looking statements is subject to change based upon various factors, many of which are beyond our control. More information is included in our most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q and in the company's other filings with the SEC. We have no obligation to provide any updates to these forward-looking statements even if our expectations change.

Now I'll turn the call over to Adam.