Quest Diagnostics Raises 2021 Guidance - Quick Facts

(RTTNews) - Quest Diagnostics Incorporated (DGX) has updated its financial outlook for full year 2021. The company said COVID-19 molecular testing volumes were stronger than expected through the end of August and are anticipated to continue to be stronger than projected because of the surge of the Delta variant.

For full year 2021, adjusted earnings per share now expected to be $11.65-$12.35 compared to the previous outlook of $10.65-$11.35. Revenues are now expected to be $9.84-$10.09 billion compared to the prior outlook of $9.54-$9.79 billion. Analysts polled by Thomson Reuters expect the company to report profit per share of $11.38 on revenue of $9.79 billion. Analysts' estimates typically exclude special items.

For 2021, the company now expects reported earnings per share to be $12.54-$13.24 compared to the previous outlook of $11.48-$12.18. Cash provided by operations are now expected to be at least $2.0 billion compared to the prior outlook of at least $1.9 billion.