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Quest Diagnostics Raises 2022 Guidance

Quest Diagnostics Incorporated (DGX) said the company now expects full year 2022 adjusted EPS in a range of $9.55 to $9.95, revised from prior guidance range of $9.00 to $9.50. The company now sees 2022 EPS to be between $8.24 and $8.64.

For 2022, net revenues are now projected to be in a range of $9.50 billion to $9.75 billion, revised from previous guidance range of $9.2 billion to $9.5 billion. Base business revenues are estimated in a range of $8.35 billion to $8.45 billion, updated from prior guidance range of $8.35 billion to $8.50 billion.

Second quarter adjusted EPS was $2.36, down 25.8% from prior year. Analysts on average had expected the company to earn $2.30 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Earnings totaled $234 million, or $1.96 per share compared with $631 million, or $4.96 per share, prior year.

Second quarter revenues were $2.45 billion, down 3.8% from prior year. Base business revenues were $2.10 billion, up 2.9%. Analysts on average had estimated $2.34 billion in revenue.

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