Quest Diagnostics Q1 Profit Decreases, but beats estimates

Quest Diagnostics (DGX) announced earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $355 million, or $2.92 per share. This compares with $469 million, or $3.46 per share, in last year's first quarter.

Excluding items, Quest Diagnostics reported adjusted earnings of $392 million or $3.22 per share for the period.

Analysts on average had expected the company to earn $2.97 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.0% to $2.61 billion from $2.72 billion last year.

Quest Diagnostics earnings at a glance (GAAP) :

-Earnings (Q1): $355 Mln. vs. $469 Mln. last year.
-EPS (Q1): $2.92 vs. $3.46 last year.
-Analyst Estimates: $2.97
-Revenue (Q1): $2.61 Bln vs. $2.72 Bln last year.

Full year EPS guidance: Adj; $9.00 - $9.50
Full year revenue guidance: $9.2 - $9.5 Bln

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