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 Inc. (DGX). Apart from the U.S., 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 #3 (Hold) but that could change following its fourth-quarter and full-year 2014 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: Quest Diagnostics’ adjusted earnings per share increased 4.9% on a year-over-year basis to $1.08. It managed to beat the Zacks Consensus Estimate of $1.05.
Revenues: Quest Diagnostics posted revenues of $1.88 billion, beating the Zacks Consensus Estimate of $1.85 billion. Revenues increased 7.2% on a year-over-year basis.
Key Stats: Quest Diagnostics’ volume, measured by the number of requisitions, increased 8.8% versus the prior year’s volume. Revenue per requisition was 1.5% lower than the year-ago quarter.
Major Factors: Market is upbeat about the progressive long-term outlook announcement that Quest Diagnostics has made at its Investor Day in Nov 2014. Per this announcement, Quest Diagnostics expects to continue to achieve overall average revenue growth of 2–5% over the next three years, including potential acquisitions and also expects to attain 8–10% adjusted diluted earnings growth on average, excluding the benefit of share repurchases.
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!
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