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Jun 30, 2021
Quest Diagnostics Q2 2021 Earnings Report
Reported strong financial results driven by a faster than expected recovery in the base business and contributions from new hospital lab management contracts.
Key Takeaways
Quest Diagnostics reported a strong second quarter with revenues of $2.55 billion, a 39.5% increase from 2020. Reported diluted EPS was $4.96, up 264.2% from 2020, and adjusted diluted EPS was $3.18, up 123.9% from 2020. The company also established its full year 2021 outlook.
Second quarter revenues of $2.55 billion, up 39.5% from 2020
Second quarter reported diluted earnings per share (EPS) of $4.96, up 264.2% from 2020; and adjusted diluted EPS of $3.18, up 123.9% from 2020
Second quarter cash provided by operations of $460 million, up 30.1% from 2020
Established full year 2021 outlook
Forward Guidance
The company estimates its full year 2021 outlook as follows: Net revenues between $9.54 billion and $9.79 billion, Net revenues increase between 1.1% and 3.7%, Reported diluted EPS between $11.48 and $12.18, Adjusted diluted EPS between $10.65 and $11.35, Cash provided by operations at least $1.9 billion, and Capital expenditures approximately $400 million.
Positive Outlook
- Net revenues between $9.54 billion and $9.79 billion
- Net revenues increase between 1.1% and 3.7%
- Reported diluted EPS between $11.48 and $12.18
- Adjusted diluted EPS between $10.65 and $11.35
- Cash provided by operations at least $1.9 billion
Challenges Ahead
- Capital expenditures approximately $400 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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