Quest Diagnostics (DGX) Reports In-Line Q1 EPS; Reaffirms Outlook

Quest Diagnostics (NYSE: DGX) reported Q1 EPS of $1.12, in-line with the analyst estimate of $1.12. Revenue for the quarter came in at $1.86 billion versus the consensus estimate of $1.82 billion.

"We're off to a good start in 2016 with a solid performance in the first quarter. We grew adjusted EPS nearly 7% and Diagnostic Information Services revenues by nearly 4%," said Steve Rusckowski, President and CEO. "With the planned divestiture of our remaining products assets, our strategy to refocus on our Diagnostic Information Services business in line with our five-point strategy is largely complete. We are encouraged by the progress we're making and are on track to meet our commitments for the remainder of the year."

GUIDANCE:

Quest Diagnostics sees FY2016 EPS of $5.02-$5.17, versus the consensus of $5.08. Quest Diagnostics sees FY2016 revenue of $7.52-7.59 billion, versus the consensus of $7.55 billion.

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

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