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%.
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