Quest Diagnostics Incorporated (NYSE:DGX), a leader in diagnostic information services, announced its financial results for the first quarter ended March 31, 2024.
The company reported first-quarter revenues of $2.37 billion, marking a 1.5% increase from the previous year.
However, reported diluted earnings per share (EPS) dropped by 3.4% to $1.72.
Despite the slight decrease in EPS, adjusted diluted EPS remained steady at $2.04, mirroring the 2023 figures.
Highlighting the company's performance, Chairman, CEO, and President Jim Davis commented, “In the first quarter, we delivered nearly 6% base business revenue growth, continuing the strong momentum of recent quarters."
Davis also noted the company's success in achieving total revenue growth for the first time since the pandemic's peak nearly three years ago, attributing it to a strong commercial focus and investments in advanced diagnostics.
Based on the robust first-quarter performance, Quest Diagnostics has raised its full-year 2024 revenue and adjusted earnings guidance.
The company now expects revenues to be between $9.40 billion and $9.48 billion, with reported diluted EPS forecasted to be between $7.57 and $7.82.