Quest Diagnostics Re-instates FY20 Outlook In Line With Estimates - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Thursday, Quest Diagnostics Inc. (DGX) re-instated its earnings and adjusted earnings guidance for the full-year 2020. The company has provided a broader-than-usual guidance range to reflect the ongoing uncertainty caused by the COVID-19 pandemic.

For fiscal 2020, the company now projects earnings in a range of $5.66 to $7.66 per share and adjusted earnings in a range of $6.60 to $8.60 per share on net revenues between $8.0 billion and $8.6 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $8.19 per share on revenues of $8.53 billion for the year. Analysts' estimates typically exclude special items.

In late March, the company had withdrawn its financial guidance for fiscal 2020, provided on April 7, 2020, given the uncertainty related to the ongoing coronavirus (COVID-19) pandemic.

"Looking forward to the rest of the year, we will continue to expand COVID-19 testing capacity while also continuing to serve our customers as they continue to recover from the pandemic," said Steve Rusckowski, Chairman, President and CEO.