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Jan. 12, 2022, 6:57 a.m. EST

Quest Diagnostics offers above-consensus guidance for Q4, raises 2022 outlook

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By Ciara Linnane

Quest Diagnostics Inc. /zigman2/quotes/201001842/composite DGX +0.39% offered guidance for the fourth quarter and full year on Wednesday that exceeded Wall Street estimates, driven by demand for COVID-19 testing services. The company is now expecting per-share earnings of $3.12 and adjusted EPS of $3.33, ahead of the $3.07 FactSet consensus. Revenue is expected to come to about $2.74 billion, ahead of the $2.56 billion FactSet consensus. For the full year, Quest is expecting EPS of $15.55 and adjusted EPS of $14.24, ahead of the $13.86 FactSet consensus. It expects revenue to come to about $10.79 billion, ahead of the $10.59 billion FactSet consensus. Looking ahead to 2022, Quest is expecting to exceed its own EPS guidance for adjusted EPS of $8.00, driven by COVID testing and growth in its base business, which will weigh against inflationary pressure and investments for growth. The company will report fourth-quarter earnings on Feb. 3. Shares were slightly higher premarket and have gained 25% in the last 12 months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.81% has gained 24%.

/zigman2/quotes/201001842/composite
US : U.S.: NYSE
$ 140.09
+0.55 +0.39%
Volume: 1.45M
May 24, 2022 4:03p
P/E Ratio
9.34
Dividend Yield
1.88%
Market Cap
$16.38 billion
Rev. per Employee
$217,939
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/zigman2/quotes/210599714/realtime
US : S&P US
3,941.48
-32.27 -0.81%
Volume: 2.44B
May 24, 2022 4:55p
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