Quest Diagnostics (DGX) Tops Q3 EPS by 2c; Narrows FY Outlook

Quest Diagnostics (NYSE: DGX) reported Q3 EPS of $1.10, $0.02 better than the analyst estimate of $1.08. Revenue for the quarter came in at $1.9 billion versus the consensus estimate of $1.87 billion.

Quest Diagnostics sees FY2014 EPS of $4.03-$4.07, versus prior guidance of $4-$4.1 and the consensus of $4.05. Revenues expected to increase approximately 3.5% compared to the prior year, versus previous guidance of up 2.5% to 3.5%

"Quest Diagnostics grew revenues 6.5% and increased EPS 8% in the third quarter of 2014, as we continued to see improvements in underlying trends in pricing, volume and revenue," said Steve Rusckowski, President and CEO. "We continued to make progress executing our five-point strategy. Earnings benefitted from the Invigorate cost reduction initiative, as well as synergies from integrations of recent acquisitions. I am pleased with the progress we're making, and I look forward to sharing more on our views and outlook at our upcoming Investor Day."

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

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