NYSE$DGX
Quest Diagnostics Inc · Q2 2020 earnings
Q2 2020 earnings · · Investor relations
Briefing
Reported stronger-than-expected performance due to rapid expansion of COVID-19 testing, which partially offset the decline in base testing volume.
Quest Diagnostics reported a 6.4% decrease in revenue compared to the previous year, but delivered stronger-than-expected performance due to the expansion of COVID-19 testing. The company has reinstated its full year outlook for 2020.
- Second quarter revenues were $1.83 billion, a decrease of 6.4% from 2019.
- Second quarter reported diluted EPS was $1.36, down 9.7% from 2019, and adjusted diluted EPS was $1.42, down 17.9% from 2019.
- Cash provided by operations for the second quarter was $355 million, up 10.4% from 2019.
- Full year 2020 reported diluted EPS is expected to be between $5.66 and $7.66, and adjusted diluted EPS is expected to be between $6.60 and $8.60.
Headline financials
Revenue & EPS history
Quest Diagnostics · Revenue · Quarterly
$1.83B
Revenue by segment
Quest Diagnostics · $2.38B total across 1 segment · Q2 2022
- Diagnostic information services$2.38B—100.0%
Forward guidance
The company reinstated its financial outlook for full year 2020. Net revenues are expected to be between $8.0 billion and $8.6 billion. Reported diluted EPS is expected to be between $5.66 and $7.66 and adjusted diluted EPS to be between $6.60 and $8.60. Cash provided by operations is expected to be at least $1.25 billion and capital expenditures between $375 million and $400 million.
Tailwinds
- Net revenues are expected to increase between 3.5% and 11.3%.
- Cash provided by operations is expected to be at least $1.25 billion.
- Reinstated financial outlook for the full year 2020.
- Reported diluted EPS expected to be between $5.66 and $7.66
- Adjusted diluted EPS expected to be between $6.60 and $8.60
Headwinds
- Outlook ranges reflect uncertainties related to the impact of the COVID-19 pandemic.
- Special items may impact earnings throughout 2020.
- Amount of ETB is dependent upon employee stock option exercises and the company's stock price, which are difficult to predict.
- Company has temporarily suspended additional share repurchases through the end of 2020
- Full year outlook reflects a number of assumptions that are subject to change
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2020
+0.0%
Avg return
Earnings day
+1.2%
Avg return
5 days after
+2.1%
Avg return
30 days after
45%
33 / 73 earnings
Positive
+11.2%
Q1 2019
Best reaction
-9.9%
Q3 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +4.3% | -0.0% | -2.2% | |
| Q4 2025 | +7.4% | +8.2% | +5.0% | |
| Q3 2025 | -3.0% | -4.3% | -1.5% | |
| Q2 2025 | -0.3% | +2.1% | +2.2% | |
| Q1 2025 | +6.8% | +7.4% | +4.8% | |
| Q4 2024 | +5.6% | +5.1% | +11.2% | |
| Q3 2024 | +6.6% | +5.2% | +11.2% | |
| Q2 2024 | -2.3% | -1.2% | +3.7% | |
| Q1 2024 | +5.7% | +3.2% | +7.6% | |
| Q4 2023 | -2.7% | -1.7% | -2.9% | |
| Q3 2023 | +3.3% | +5.1% | +11.8% | |
| Q2 2023 | -7.3% | -6.7% | -8.6% | |
| Q1 2023 | -5.5% | -5.9% | -8.9% | |
| Q4 2022 | -3.9% | -1.8% | -5.3% | |
| Q3 2022 | +8.0% | +13.7% | +15.6% | |
| Q2 2022 | -2.8% | -1.2% | +0.5% | |
| Q1 2022 | -0.9% | -2.7% | +1.9% | |
| Q4 2021 | -1.4% | -1.0% | +1.3% | |
| Q3 2021 | -0.2% | -0.9% | +1.1% | |
| Q2 2021 | +2.7% | +3.1% | +11.9% | |
| Q1 2021 | +0.9% | +1.8% | +1.0% | |
| Q4 2020 | -4.0% | -4.0% | -7.0% | |
| Q3 2020 | +3.5% | +3.5% | +1.6% | |
| Q2 2020 | -3.7% | -4.9% | -9.2% | |
| Q1 2020 | +6.6% | +22.8% | +19.4% | |
| Q4 2019 | +0.0% | +0.5% | -4.2% | |
| Q3 2019 | +0.6% | -1.6% | +2.5% | |
| Q2 2019 | +5.4% | +3.3% | +4.6% | |
| Q1 2019 | +11.2% | +11.9% | +14.6% | |
| Q4 2018 | -2.3% | -2.0% | -1.6% | |
| Q3 2018 | -9.9% | -9.9% | -8.2% | |
| Q2 2018 | -6.3% | -7.1% | -3.6% | |
| Q1 2018 | -2.6% | -1.0% | +1.3% | |
| Q4 2017 | -2.6% | -4.4% | -4.1% | |
| Q3 2017 | +3.3% | +3.5% | +1.1% | |
| Q2 2017 | -1.1% | +0.1% | -2.6% | |
| Q1 2017 | +5.3% | +7.9% | +7.9% | |
| Q4 2016 | +0.9% | +0.0% | +5.9% | |
| Q3 2016 | +0.9% | +0.2% | +3.1% | |
| Q2 2016 | +1.7% | +1.6% | +1.6% | |
| Q1 2016 | +0.8% | — | — | |
| Q4 2015 | -0.1% | — | — | |
| Q3 2015 | -0.3% | — | — | |
| Q2 2015 | +1.2% | — | — | |
| Q1 2015 | -0.6% | — | — | |
| Q4 2014 | +0.7% | — | — | |
| Q3 2014 | +4.2% | — | — | |
| Q2 2014 | +1.4% | — | — | |
| Q1 2014 | -4.2% | — | — | |
| Q4 2013 | -2.5% | — | — | |
| Q3 2013 | -1.4% | — | — | |
| Q2 2013 | -1.3% | — | — | |
| Q1 2013 | -4.4% | — | — | |
| Q4 2012 | -5.5% | — | — | |
| Q3 2012 | -4.5% | — | — | |
| Q2 2012 | -6.8% | — | — | |
| Q1 2012 | -2.4% | — | — | |
| Q4 2010 | +1.0% | — | — | |
| Q4 2011 | +1.0% | — | — | |
| Q3 2011 | +0.4% | — | — | |
| Q2 2011 | -2.1% | — | — | |
| Q1 2011 | +0.2% | — | — | |
| Q3 2010 | +0.1% | — | — | |
| Q2 2010 | +1.7% | — | — | |
| Q1 2010 | -2.6% | — | — | |
| Q1 2009 | -2.6% | — | — | |
| Q4 2007 | +1.8% | — | — | |
| Q4 2009 | +1.8% | — | — | |
| Q3 2009 | -0.1% | — | — | |
| Q3 2008 | -0.1% | — | — | |
| Q2 2009 | -0.6% | — | — | |
| Q4 2008 | -0.6% | — | — | |
| Q2 2008 | -0.6% | — | — |
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