Quest Diagnostics Reports Second Quarter 2017 Financial Results, Raises 2017 Financial Outlook
- Second quarter revenues of $1.94 billion, up 1.9% on a reported basis and up 2.3% on an equivalent basis versus 2016.
- Second quarter diluted EPS of $1.37, flat on a reported basis from 2016; and $1.55 on an adjusted basis excluding amortization, up 15.7% from 2016. Excess tax benefit associated with stock-based compensation benefited diluted EPS by $0.10 in the quarter and increased $0.08 compared to 2016.
Raises outlook for full year 2017 revenues, diluted EPS and cash provided by operations. Reported revenues now expected to be between $7.69 billion and $7.74 billion.- Reported diluted EPS now expected to be between $4.90 and $5.00 and adjusted diluted EPS excluding amortization expense now expected to be between $5.62 and $5.72. Cash provided by operations now expected to be approximately $1.2 billion.
Quest Diagnostics Incorporated (NYSE: DGX), the world's leading provider of diagnostic information services, announced today financial results for the second quarter ended June 30, 2017 and raised its full year 2017 outlook for revenues, diluted EPS and cash provided by operations.
Quest Diagnostics Incorporated logo. (PRNewsFoto/Quest Diagnostics Incorporated)
"We turned in another strong quarter and are delivering on all five elements of our strategy to accelerate growth," said Steve Rusckowski, Chairman, President and CEO. "We built on our leadership position in advanced diagnostics with our recently-completed acquisition of Med Fusion and ClearPoint. We're expanding on our strategy of being the consumer-friendly provider of diagnostic information services through our growing presence in Safeway stores and now our innovative relationship with Walmart. Based on our progress in the first half we have raised our outlook and are well-positioned to meet our expectations for the rest of the year."
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