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NEW YORK - Quest Diagnostics (NYSE:DGX) reported first quarter earnings that beat analyst estimates on Tuesday.
The company’s stock fell over -3.61% in premarket trading following the release.
The diagnostic testing company posted adjusted earnings per share of $2.21, exceeding the consensus estimate of $2.16. Revenue came in at $2.65 billion, slightly above expectations of $2.64 billion and up 12.1% year-over-year.
"In the first quarter, we delivered strong revenue growth of approximately 12%, including nearly 2.5% in organic growth, as demand rebounded in March following weather impacts early in the quarter," said Jim Davis, Chairman, CEO and President of Quest Diagnostics.
The company reaffirmed its full year 2025 guidance, projecting adjusted EPS of $9.55-$9.80 on revenue of $10.7-$10.85 billion. This outlook aligns with analyst consensus estimates.
Quest attributed its growth to contributions from acquisitions and large enterprise accounts, demand for advanced diagnostics, and expanded health plan access. However, organic requisition volume declined 0.9% compared to the prior year period.
The company’s cash flow from operations more than doubled to $314 million in Q1, up from $154 million a year ago. Capital expenditures increased 11.9% to $117 million.
Quest Diagnostics will hold a conference call at 8:30 AM Eastern Time to discuss the results in more detail.
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