Quest Diagnostics Tops Q3 Estimates and Lifts Full-Year Revenue and EPS Guidance
DGX sits 38% above its 52-week low of $171.175.
Summary
Quest Diagnostics posted Q3 revenue of $3.10 billion (+10.0%) and adjusted EPS of $3.00 (+15.4%), then raised full-year revenue and EPS guidance on strong volume growth.
Key Events · Earnings and Guidance · DGX
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Q3 Revenue Up 10% to $3.10B
Net revenues reached $3,097 million versus $2,816 million a year ago, as diagnostic information services revenue rose 10.2% to $3,035 million.
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Adjusted EPS $3.00, Up 15.4%
Reported diluted EPS came in at $2.78 (+28.7%) and adjusted diluted EPS at $3.00 (+15.4%), with adjusted operating margin improving to 16.7% from 16.3%.
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Full-Year Guidance Raised
Revenue outlook lifted to $12.065-$12.105 billion from $11.95-$12.05 billion; adjusted diluted EPS to $11.25-$11.35 from $11.05-$11.25; operating cash flow to about $1.90 billion from $1.80 billion.
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Volume Growth, Price Erosion
Requisition volume rose 14.5% (organic 14.4%) while revenue per requisition fell 4.2%, so the top line is volume-driven rather than price-driven.
Analysis · DGX · Industrial Applications And Services
Revenue climbed 10.0% to $3.10 billion and adjusted EPS rose 15.4% to $3.00, prompting management to lift full-year adjusted EPS guidance to $11.25-$11.35 from $11.05-$11.25 and revenue to $12.065-$12.105 billion. Volume is doing the heavy lifting: requisitions rose 14.5% while revenue per requisition fell 4.2%, so growth is coming from more tests, not higher prices. The raise extends a pattern set at Q2, when guidance was already lifted, and the higher cash-flow outlook (about $1.90 billion from $1.80 billion) supports the existing dividend and $1 billion buyback.
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At the time of this filing, DGX was trading at $236.57 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $26.4B. The 52-week trading range was $171.18 to $248.84. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.