Sunday, May 19, 2024
HomeBusinessQuest Diagnostics (DGX) Q2 Earnings

Quest Diagnostics (DGX) Q2 Earnings



  • Quest Diagnostics Inc DGX posted a better-than-expected Q2 FY22 adjusted EPS of $2.36, although down 25.8% Y/Y, beating the consensus of $2.20.
  • Gross sales got here in at $2.45 billion, a decline of three.8% Y/Y, larger than the Wall Avenue estimate of $2.34 billion.
  • COVID-19 testing revenues fell 30.5% to $355 million, whereas Base enterprise revenues improved 2.9% to $2.10 billion.
  • “In Q2, our base enterprise revenues grew yr over yr whereas we elevated our share of COVID-19 molecular testing thanks largely to our expanded retail relationships,” mentioned Jim Davis, CEO-elect.
  • Adjusted working margin compressed to 17.7% from 22.9% a yr in the past.
  • Outlook: Quest Diagnostics expects FY22 gross sales of $9.50 billion – $9.75 billion (prior view $9.2 billion – $9.5 billion), in comparison with the consensus of $9.42 billion.
  • The corporate tightened its Base income steering to $8.35 billion – $8.45 billion (prior steering of $8.35 billion – $8.50 billion).
  • The corporate anticipates larger COVID-19 testing revenues of $1.15 billion – $1.30 billion (prior forecast of $0.85 billion – $1.0 billion).
  • The corporate forecasts adjusted EPS of $9.55 – $9.95 in comparison with the prior steering of $9.00-$9.50, versus the consensus of $9.33.
  • Value Motion: DGX shares are up 0.12% at $135.00 in the course of the premarket session on the final test Thursday.
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments