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Mar 31, 2020
Quest Diagnostics Q1 2020 Earnings Report
Reported a decrease in revenue and EPS due to the COVID-19 pandemic.
Key Takeaways
Quest Diagnostics reported a 3.7% decrease in revenue and a 39.6% decrease in EPS for the first quarter of 2020. The decline was attributed to a material drop in testing volumes in March due to the COVID-19 pandemic. The company has taken actions to protect its financial flexibility, including pay cuts and suspension of certain benefits.
First quarter revenues were $1.82 billion, a decrease of 3.7% from 2019.
Reported diluted EPS was $0.73, a decrease of 39.6% from 2019; adjusted diluted EPS was $0.94, a decrease of 32.1% from 2019.
Cash provided by operations was $247 million, a decrease of 10.2% from 2019.
Full year 2020 outlook was withdrawn on March 31, 2020, due to uncertainties related to the COVID-19 pandemic.
Forward Guidance
The company withdrew its full year 2020 outlook on March 31, 2020, due to uncertainties related to the COVID-19 pandemic and is unable to accurately forecast the near term impact of the pandemic on its business.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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