Quest Diagnostics (DGX) Posts Inline Q2 Earnings, Revenue Miss
If you are a frequent customer of commercial laboratory testing services in North America, you probably have been offered one or more diagnostic products of one of its leading providers– Quest Diagnostics Incorporated DGX. Apart from the United States, this company provides its laboratory services in several international markets including parts of India, England, Mexico and Puerto Rico.
Currently, Quest Diagnostics has a Zacks Rank #2 (Buy) but that could change following its strong second-quarter 2018 earnings report which has just released. You can see the complete list of today’s Zacks #3 Rank (Hold) stocks here. We have highlighted some of the key details from the just-released announcement below:
Earnings: Quest Diagnostics reported second quarter adjusted earnings of $1.75 per share (up 20.7% year-over-year) and at par with the Zacks Consensus Estimate.
Revenues: Quest Diagnostics posted revenues of $1.92 billion in the reported quarter, up 2.9% year-over-year. However, the figure missed the Zacks Consensus Estimate for revenues of $1.96 billion.
Quest Diagnostics Incorporated Price and EPS Surprise
Quest Diagnostics Incorporated Price and EPS Surprise | Quest Diagnostics Incorporated Quote
Key Stats: Quest Diagnostics’ volume, measured by the number of requisitions, increased 2.5% versus the prior year’s volume. Revenue per requisition increased 0.2% on a year-over-year basis.
Major Factors: Per management, the company made great progress in accelerating growth and driving operational excellence in the reported quarter. Management has also stated that it is working to strengthen its strategic relationship with UnitedHealth Group and is excited to serve as a national in-network lab provider for UnitedHealthcare members beginning Jan 1, 2019.
Stock Price: Following the earnings release, share prices did not show any movement in the pre-market trading session.
Check back later for our full write up on this Quest Diagnostics earnings report later!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Quest Diagnostics Incorporated (DGX) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
