Quest Diagnostics Says Sales In Q1 Increased For The First Time Since The Height Of Pandemic
Portfolio Pulse from Vandana Singh
Quest Diagnostics Inc (NYSE:DGX) reported a Q1 adjusted EPS of $2.04, surpassing the consensus of $1.86, with sales increasing 1.5% Y/Y to $2.37 billion, exceeding Wall Street's estimate of $2.29 billion. This marks the first revenue growth since the pandemic's peak nearly three years ago, driven by a nearly 6% base business revenue growth and strong performance in key clinical areas. The company slightly adjusted its 2024 revenue and EPS guidance upwards. William Blair anticipates the stock to rise, rating it as Outperform due to better-than-expected metrics and a positive outlook for steady long-term growth.
April 23, 2024 | 4:44 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Quest Diagnostics exceeded Q1 EPS and sales estimates, marking its first revenue growth since the pandemic, with an upward adjustment in 2024 guidance. William Blair rates the stock as Outperform, expecting a positive stock movement.
Quest Diagnostics' Q1 performance exceeded expectations with significant sales growth and an upward revision in future guidance, indicating strong business momentum. Analyst endorsement from William Blair, citing better-than-expected metrics and a positive long-term growth outlook, further supports a bullish short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100