Quest Diagnostics (DGX) Q1 Earnings Meet, Guidance Intact
Zacks Investment Research | Apr 18, 2018 10:08PM ET
Quest Diagnostics Incorporated’s (NYSE:DGX) first-quarter 2018 adjusted earnings per share (EPS) of $1.52 are on par with the Zacks Consensus Estimate. Adjusted earnings rose 24.6% from the year-ago number.
Reported EPS came in at $1.27, reflecting a 9.5% rise from the year-ago quarter.
Reported revenues in the first quarter moved up 3.7% year over year to $1.884 billion but fell short of the Zacks Consensus Estimate of $1.90 billion. According to the company, the year-over-year improvement came on the back of successful execution of its two-point strategy of accelerating growth and driving operational excellence.
Volume (measured by the number of requisitions) increased 2.2% year over year in the fourth quarter. Also, revenue per requisition ticked up 1.6%. Diagnostic information services revenues in the quarter rose 4.1% on a year-over-year basis to $1.80 billion.
Cost of services during the reported quarter was $1.226 billion, up 5.2% year over year. Gross margin came in at 34.9%, reflecting a 100 basis points (bps) contraction year over year.
Coming to operating expenses, selling, general and administrative expenses increased 2.3% to $363 million in the reported quarter. Consequently, adjusted operating margin showed a contraction of 60 bps to 15.7%.
Quest Diagnostics Incorporated Price, Consensus and EPS Surprise
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