Quest Diagnostics Inc

DGX

Equity

ISIN US74834L1008 / Valor 566162

New York Stock Exchange, Inc (2024-11-21)

USD 163.89+1.59%

Quest Diagnostics Inc
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About company

Quest Diagnostics Inc. is a leading provider of diagnostic testing, information, and services, operating under the Quest® brand. The company and its affiliated CLIA certified laboratories offer a wide range of healthcare services, including diagnostic testing and information for patients and healthcare providers. Quest Diagnostics Inc. is known for its commitment to quality and accuracy in delivering results that help improve patient care and outcomes. Additionally, the company's services extend beyond traditional laboratory testing to include innovative solutions that support healthcare organizations in managing population health and improving overall patient wellness.

Summarized from source with an LLMView SourceSector: Healthcare

Revenue Growth

Quest Diagnostics Inc. reported second quarter 2024 revenues of $2.40 billion, marking a 2.5% increase from the same period in 2023. This growth is attributed to the expansion of new physician and hospital customers, as well as a more favorable test mix that includes greater adoption of advanced diagnostics.

Earnings Per Share

The company reported a diluted earnings per share (EPS) of $2.03 for Q2 2024, which is a slight decrease of 1.0% compared to the same quarter in 2023. However, the adjusted diluted EPS was $2.35, reflecting a 2.2% increase from the previous year.

Net Income

Quest Diagnostics Inc.'s net income for the second quarter of 2024 was $229 million, down 2.4% from $235 million in Q2 2023. The adjusted net income, however, showed a slight increase of 1.4%, reaching $266 million compared to $263 million in the same period last year.

Updated Full Year Guidance

The company has updated its full year 2024 guidance, now expecting revenues to be between $9.50 billion and $9.58 billion. The reported diluted EPS is projected to be between $7.57 and $7.77, while the adjusted diluted EPS is expected to range from $8.80 to $9.00.

Operational Efficiency

Quest Diagnostics Inc. highlighted improvements in operational quality and efficiency through greater use of automation and AI. This has contributed to the company's productivity and profitability, with operating income for Q2 2024 reaching $355 million, a 1.9% increase from the previous year.

Summarized from source with an LLMView Source

Key figures

22.0%1Y

10.4%3Y

56.3%5Y

Performance

20.1%1Y

22.0%3Y

26.5%5Y

Volatility