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Dec 31, 2022
Quest Diagnostics Q4 2022 Earnings Report
Quest Diagnostics reported a decrease in revenue and EPS for Q4 2022.
Key Takeaways
Quest Diagnostics reported a decrease in revenue by 15.0% and a decrease in EPS by 72.1% for the fourth quarter of 2022. Base business revenues increased by 6.3%, while COVID-19 testing revenues decreased by 74.6%.
Fourth quarter revenues decreased by 15.0% compared to 2021.
Reported diluted EPS decreased by 72.1% from 2021.
Base business revenues increased by 6.3% compared to 2021.
COVID-19 testing revenues decreased by 74.6% from 2021.
Quest Diagnostics
Quest Diagnostics
Forward Guidance
Quest Diagnostics provided full year 2023 guidance with net revenues expected to be between $8.83 billion and $9.03 billion and adjusted diluted EPS expected to be between $8.40 and $9.00.
Positive Outlook
- Continued growth in the base business
- Tailwinds from recent Medicare reimbursement changes
- Investments to accelerate growth
Challenges Ahead
- Declining COVID-19 revenues