Quest Diagnostics Sees Higher FY17 Results; Joins With Montefiore Health System

(RTTNews) - Quest Diagnostics Inc. (DGX), a provider of diagnostic information services, Thursday said it expects fiscal 2017 reported earnings per share between $4.65 and $4.80, and adjusted earnings per share between $5.37 and $5.52.

Revenues for the year would be $7.64 billion to $7.72 billion, a growth of 1.7% to 2.7%.

On average, analysts polled by Thomson Reuters expect earnings of $5.45 per share on revenues of $7.66 billion for the year. Analysts' estimates typically exclude special items.

In fiscal 2016, the company's reported earnings per share were $4.51 and adjusted earnings per share were $5.15 on revenues of $7.52 billion.

Steve Rusckowski, Chairman, CEO and President, said, "Our guidance for full year 2017 reflects expectations for continued acceleration of top-line growth and is consistent with the earnings outlook we provided at our Investor Day in November."

Separately, Quest said it is working with Montefiore Health System to provide diagnostic laboratory services. This partnership will enhance the quality and efficiency of laboratory services at Montefiore.

Quest will perform a portion of low complexity diagnostic tests at its Teterboro, NJ lab facility. The remainder of the laboratory testing will continue to be done at Montefiore Hospitals under the direction of the Montefiore and Einstein Department of Pathology.