Quest Diagnostics Raises Annual Forecast After Strong Second Quarter

The diagnostic testing firm posted a quarterly profit of $320 million, or $2.84 per share, marking a significant increase from the $282 million, or $2.47 per share, recorded during the same period last year. When excluding one-time items, adjusted earnings hit $3.12 per share, comfortably surpassing the $2.82 anticipated by FactSet analysts. Total revenue climbed 10% to $3.04 billion, topping the projected $2.97 billion.

Chief Executive Jim Davis attributed the performance to consistent demand across the company’s core business units. Reflecting this momentum, Quest now expects full-year revenue to land between $11.95 billion and $12.05 billion, a notable shift from its previous guidance of $11.78 billion to $11.90 billion. Adjusted earnings per share are now projected at $11.05 to $11.25, well ahead of the prior outlook of $10.63 to $10.83 and current analyst consensus.