Quest Diagnostics Boosts FY22 Outlook - Update

While reporting financial results for the first quarter on Thursday, Quest Diagnostics Inc. (DGX) raised its earnings, adjusted earnings and revenue guidance for the full-year 2022, based on its strong performance in the quarter and expectations for the remainder of 2022.

For fiscal 2022, the company now projects earnings in a range of $7.88 and $8.38 per share and adjusted earnings in a range of $9.00 and $9.50 per share on net revenues between $9.2 billion and $9.50 billion.

Previously, the company expected earnings in the range of $7.63 and $8.33 per share and adjusted earnings in the range of $8.65 and $9.35 per share on net revenues between $9.0 billion and $9.50 billion.

On average, 16 analysts polled by Thomson Reuters expect the company to report earnings of $9.03 per share on revenues of $9.36 billion for the year. Analysts' estimates typically exclude special items.

"We continue to make investments to further accelerate growth in the base business, while our efforts to improve productivity are helping us to offset inflationary pressures," said Steve Rusckowski, Chairman, CEO and President.

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