Quest Diagnostics (DGX) Reports In-Line Q3 EPS, Revenues Miss; Lowers FY18 EPS/Reveunes Outlook

Quest Diagnostics (NYSE: DGX) reported Q3 EPS of $1.68, in-line with the analyst estimate of $1.68. Revenue for the quarter came in at $1.89 billion versus the consensus estimate of $1.95 billion.

"We grew revenues and continued to deliver strong earnings growth in the third quarter," said Steve Rusckowski, Chairman, President and CEO. "We had a productive quarter, announcing three acquisitions and a Professional Lab Services agreement. We are updating our full-year revenue guidance to reflect lower than expected revenue performance this year, which has been affected in large part by industry headwinds we called out in the previous quarter. Looking ahead, our acquisition pipeline, along with our expanding health plan access, including UnitedHealthcare beginning January 1, position us well for growth in 2019."

GUIDANCE:

Quest Diagnostics sees FY2018 EPS of $6.53-$6.60, versus the consensus of $6.60. Quest Diagnostics sees FY2018 revenue of $7.62-7.7 billion, versus the consensus of $7.71 billion.

For earnings history and earnings-related data on Quest Diagnostics (DGX) click here.

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