NYSE$DGX

Quest Diagnostics Inc · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

Reported record revenues, earnings and cash from operations.

Quest Diagnostics reported a strong Q4 2020, with revenues up 55.8% compared to 2019. The company's performance was driven by continued high demand for COVID-19 testing. The company has increased its dividend and share repurchase authorization.

  • Fourth quarter revenues of $3.0 billion, up 55.8% versus 2019
  • Fourth quarter diluted earnings per share from continuing operations (EPS) of $4.21, up 126.9% from 2019; and adjusted diluted EPS of $4.48, up 167.7% from 2019
  • Full year revenues of $9.44 billion, up 22.1% from 2019
  • Full year diluted EPS of $10.47, up 70.8% from 2019; and adjusted diluted EPS of $11.18, up 70.4% from 2019

Headline financials

Total Revenue

$3B

Previous: $1.93B+55.9%
EPS (adj)

$4.48

Previous: $1.67+168.3%
Revenue per requisition growth

25.2%

Previous: 1.2%+2000.0%
Requisition volume change

26.8%

Previous: 4.1%+553.7%
Organic requisition volume change

22.3%

Previous: 3.4%+555.9%
Capital Expenditures

$162M

Previous: $172M-5.8%
Free Cash Flow

$379M

Previous: $176M+115.3%
Net Income

$609M

Previous: $265M+129.8%
Operating Income

$795M

Previous: $363M+119.0%
Gross Profit

$1.27B

Previous: $662M+91.7%
Cash & Equivalents

$1.16B

Previous: $1.19B-2.9%
Total Assets

$14B

Previous: $12.8B+9.2%
Stock-Based Comp

$34M

Previous: $12M+183.3%

Revenue & EPS history

Quest Diagnostics · Revenue · Quarterly

$3B

Q4 2020+55.9%vs Q4 2019
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Revenue by segment

Quest Diagnostics · $2.92B total across 1 segment · Q4 2020

  • Diagnostic information services
    $2.92B

Forward guidance

The company estimates its first half 2021 results as follows: LowHighNet revenues$4.85 billion$5.15 billionNet revenues increase32.9%41.1%Reported diluted EPS$5.076.07Adjusted diluted EPS$5.90$6.90Cash provided by operationsAt least $800 millionCapital expendituresApproximately $200 million

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 Q4 2020

Historical avgQ4 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

Earnings price reactions
QuarterReport dateReaction (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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