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Mar 31, 2024
Quest Diagnostics Q1 2024 Earnings Report
Reported a revenue increase and EPS decrease compared to the previous year, while raising full-year guidance due to strong base business revenue growth and productivity improvements.
Key Takeaways
Quest Diagnostics reported a 1.5% increase in first-quarter revenue to $2.37 billion. Diluted EPS decreased by 3.4% to $1.72, while adjusted diluted EPS was flat at $2.04. The company raised its full-year revenue and adjusted earnings guidance, driven by strong commercial focus, healthcare utilization, and investments in advanced diagnostics and automation.
First quarter revenues increased by 1.5% to $2.37 billion.
Reported diluted EPS decreased by 3.4% to $1.72, while adjusted diluted EPS was flat at $2.04.
Base business revenue grew by nearly 6%.
Full-year revenue guidance raised to between $9.40 billion and $9.48 billion.
Forward Guidance
The company updated its full year 2024 guidance with net revenues expected to be between $9.40 billion and $9.48 billion, reported diluted EPS between $7.57 and $7.82, and adjusted diluted EPS between $8.72 and $8.97.
Positive Outlook
- Net revenues are expected to be between $9.40 billion and $9.48 billion.
- Net revenues increase between 1.6% and 2.5%.
- Reported diluted EPS is expected to be between $7.57 and $7.82.
- Adjusted diluted EPS is expected to be between $8.72 and $8.97.
- Cash provided by operations approximately $1.3 billion
Historical Earnings Impact
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Avg. Return Before/After Earnings
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