NYSE$DGX
Quest Diagnostics Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Delivered a strong third quarter with revenue and EPS growth, driven by new customer wins, expanded business, and recent acquisitions.
Quest Diagnostics reported a strong third quarter with an 8.5% increase in total revenue, including 4.2% organic growth. The company's performance was driven by new customer wins, expanded business with physicians and hospitals, and recent acquisitions. Due to contributions from recent acquisitions, the company has increased its 2024 revenue guidance and has maintained the midpoint of its adjusted EPS guidance despite the impact of Hurricane Milton in the fourth quarter.
- Third quarter revenues increased by 8.5% compared to 2023.
- Reported diluted earnings per share increased by 1.5% from 2023.
- Adjusted diluted earnings per share increased by 3.6% from 2023.
- Full year 2024 revenues are now expected to be between $9.80 billion and $9.85 billion.
Headline financials
Revenue & EPS history
Quest Diagnostics · Revenue · Quarterly
$2.49B
Revenue by segment
Quest Diagnostics · $2.38B total across 1 segment · Q2 2022
- Diagnostic information services$2.38B—100.0%
Forward guidance
The company updates its full year 2024 guidance. The updated guidance reflects the impact of recent acquisitions including LifeLabs as well as the impact from Hurricane Milton in the fourth quarter. The company projects the disruption from Hurricane Milton to negatively impact net revenues by approximately $15 million and EPS by approximately 8 cents in the fourth quarter.
Tailwinds
- Net revenues are expected to be between $9.80 billion and $9.85 billion.
- Net revenues increase between 5.9% and 6.5%.
- Reported diluted EPS is expected to be between $7.60 and $7.70.
- Adjusted diluted EPS is expected to be between $8.85 and $8.95.
- Cash provided by operations approximately $1.3 billion
Headwinds
- Hurricane Milton is projected to negatively impact net revenues by approximately $15 million in the fourth quarter.
- Hurricane Milton is projected to negatively impact EPS by approximately 8 cents in the fourth quarter.
- Restructuring and integration charges of $0.34
- Amortization expense of $0.85
- Other charges of $0.12
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 Q3 2024
+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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