Quest Diagnostics beats Q2 estimates, raises full-year guidance; announces four acquisitions

QUEST DIAGNOSTICS INC

2024-Q2 EPS reported $3.75 revenue$4,763,000,000

Q2 revenues $2.397B (+2.5% YoY); reported EPS $2.03 (-1% YoY), adjusted EPS $2.35 (+2.2% YoY)
Full-year 2024 revenue guidance raised to $9.50-9.58B; adjusted EPS raised to $8.80-9.00
Announces four acquisitions: LifeLabs (pending), Allina Health, OhioHealth outreach labs, PathAI Diagnostics (completed)
Base business revenue growth ~4%; driven by new customers, advanced diagnostics, healthcare utilization
Cash from ops guided ~$1.3B; capex ~$420M; both unchanged from prior guidance

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