Quest Diagnostics, Inc. (DGX) Misses Q1 EPS by 4c; Guides FY In-Line

Quest Diagnostics, Inc. (NYSE: DGX) reported Q1 EPS of $0.84, $0.04 worse than the analyst estimate of $0.88. Revenue for the quarter came in at $1.75 billion versus the consensus estimate of $1.75 billion.

Quest Diagnostics, Inc. sees FY2014 EPS of $3.95-$4.15, versus the consensus of $4.04. Revenues to increase 2% to 4% compared to the prior year.

"We made progress executing our five-point strategy in the quarter, and saw signs of continued stabilization in underlying pricing, volume and revenue trends, despite the unusually harsh winter," said Steve Rusckowski, President and CEO. "We expect to show positive revenue growth beginning in the second quarter of 2014 and throughout the remainder of the year. We continue to make progress on our top priority of restoring growth, have completed three acquisitions so far this year and recently signed a laboratory professional services relationship with our first integrated delivery network. In addition, we are pleased that Congress took positive action in the recent legislation to provide needed clarity around timing and process for changes to the Clinical Lab Fee Schedule."

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

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