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Mar 31, 2021
Quest Diagnostics Q1 2021 Earnings Report
Quest Diagnostics had a strong first quarter, with base business recovering to near pre-pandemic levels, acquisitions and Professional Lab Services relationships accelerating growth, and monthly organic revenue in the base business growing versus 2019 baseline.
Key Takeaways
Quest Diagnostics reported a strong first quarter with a 49.3% increase in revenue compared to 2020. The company's base business showed recovery, and contributions from acquisitions and Professional Lab Services relationships accelerated growth.
First quarter revenues reached $2.72 billion, a 49.3% increase from 2020.
Reported diluted earnings per share (EPS) for the first quarter were $3.46, up 375.8% from 2020.
Adjusted diluted EPS for the first quarter was $3.76, a 298.9% increase from 2020.
Cash provided by operations in the first quarter was $731 million, up 194.9% from 2020.
Forward Guidance
The company has updated its outlook for the first half of 2021.
Positive Outlook
- Net revenues are expected to be between $5.00 billion and $5.20 billion.
- Net revenues increase between 37.0% and 42.5%.
- Reported diluted EPS is expected to be between $7.51 and $8.01.
- Adjusted diluted EPS is expected to be between $6.30 and $6.80.
- Cash provided by operations is expected to be at least $1 billion.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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