Quest Diagnostics Reaffirms 2014 Outlook - Quick Facts

(RTTNews) - Quest Diagnostics (DGX) announced the company intends to reiterate expectations from continuing operations for 2014, before special items. Specifically: revenues are expected to increase approximately 3.5% compared to the prior year; and adjusted EPS to be between $4.03 and $4.07.

Analysts polled by Thomson Reuters expect the company to report 2014 profit per share of $4.07 on revenue of $7.40 billion. Analysts' estimates typically exclude special items.

The company said it expects to continue to achieve sequential improvement in organic revenue growth, with overall average revenue growth of 2% to 5% over the next three years. Over the next three years, Quest expects to achieve 8% to 10% adjusted EPS growth on average, excluding the benefit of share repurchases. The company expects to deliver $600 million in additional total run-rate savings over the next three years, bringing the total run-rate savings expected at the end of 2017 to approximately $1.3 billion.