Quest Diagnostics’ Q1 Earnings Align With Wall Street Estimates: Retail’s In Wait-And-Watch Mode

Shares of Quest Diagnostics Inc. (DGX) rose over 3% in pre-market trading on Tuesday morning after the company reported first-quarter (Q1) earnings in line with Wall Street expectations and reaffirmed its full-year revenue and adjusted earnings per share (EPS) guidance.

The laboratory operator reported first-quarter adjusted diluted EPS of $2.21, representing an 8.3% growth from the corresponding period last year and meeting an analyst estimate of $2.21, according to Finchat data.

The company’s net revenue for the three months through the end of March totaled $2.65 billion, representing a 12.1% increase from the corresponding period last year and aligning with analyst estimates.

The company reaffirmed its full-year guidance for adjusted diluted EPS between $9.55 and $9.80, in line with an analyst estimate of $9.71.

Quest Diagnostics expects full-year net revenues to be in the range of $10.70 billion and $10.85 billion.

CEO Jim Davis stated that the strong revenue growth was driven by demand rebounding in March after weather impacts early in the quarter.

“Our growth was due to contributions from acquisitions and large enterprise accounts, demand for our advanced diagnostics portfolio, and expanded health plan access," Davis added.

On Stocktwits, retail sentiment around Quest Diagnostics remained unmoved within the ‘bearish’ territory over the past 24 hours while message volume remained unchanged at ‘low’ levels.

DGX stock is up by over 7% so far this year and by over 24% over the past 12 months.

Also See: Regeneron Inks Deal With Fujifilm Diosynth Biotechnologies To Increase Manufacturing In US: Retail’s Optimistic

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