Quest Diagnostics Q2 revenue $2.34B down 4.7% YoY; base business up 9.5%; raises FY revenue guidance

QUEST DIAGNOSTICS INC

2023-Q2 EPS reported $3.83 revenue$4,669,000,000

Q2 reported EPS $2.05 (+4.6% YoY); adjusted EPS $2.30 (-2.5% YoY).
Base business revenue $2.30B (+9.5% YoY); COVID testing revenue $41M (-88.3%).
FY 2023 revenue guidance raised to $9.12B-$9.22B (from $8.93B-$9.08B).
Adjusted EPS guidance $8.50-$8.90; cash from operations at least $1.3B.
CEO cites strong base business demand but persistent labor turnover pressures.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

QUEST DIAGNOSTICS INC reported the quarter ended June 30, 2023 results: revenue $2,338, net income $235, EPS $2.05. Guidance raised.

Period: the quarter ended June 30, 2023
Revenue: $2,338
Net income: $235
EPS: $2.05
Guidance: raised
Result: reported results

Exact text from the filing

tight labor market." Three Months Ended June 30, Six Months Ended June 30, 2023 2022 Change 2023 2022 Change (dollars in millions, except per share data) Reported: Net revenues $ 2,338 $ 2,453 (4.7) % $ 4,669 $ 5,064 (7.8) % Base business revenues (a) $ 2,297 $ 2,098 9.5 % $ 4,509 $ 4,110 9.7 % COVID-19 testing revenues $ 41 $ 355 (88.3) % $ 160 $ 954 (83.2) %

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

QUEST DIAGNOSTICS INC reported Full Year 2023 results: revenue $9.12 billion to $9.22 billion, EPS $7.52 to $7.92. Guidance raised.

Period: Full Year 2023
Revenue: $9.12 billion to $9.22 billion
EPS: $7.52 to $7.92
Guidance: raised
Result: guidance update

Exact text from the filing

Updated Guidance for Full Year 2023 The company updates its Full Year 2023 guidance as follows: Updated Guidance Prior Guidance Low High Low High Net revenues $9.12 billion $9.22 billion $8.93 billion $9.08 billion

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Source: SEC EDGAR

accession 0001022079-23-000131

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