PR Newswire
SECAUCUS, N.J., July 23, 2024
SECAUCUS, N.J., July 23, 2024 /PRNewswire/ -- Quest Diagnostics Incorporated (NYSE: DGX), a leading provider of diagnostic information services, today announced financial results for the second quarter ended June 30, 2024.
"We delivered another strong quarter, with base business revenue growth of nearly 4% and total revenue growth of 2.5% as well as continued improvement in productivity and profitability in the base business," said Jim Davis, Chairman, CEO and President. "This performance is due to growth of new physician and hospital customers, more favorable test mix that includes greater adoption of advanced diagnostics and continued strength in healthcare utilization. We also made progress improving our operational quality and efficiency through greater use of automation and AI."
Mr. Davis added: "In addition, we are excited to announce four acquisitions that meet our criteria for growth, profitability and returns, and that will enable us to expand in strategic growth areas. Our planned acquisition of LifeLabs will position us to help this trusted lab leader grow and better serve Canada's growing and aging population. The acquisitions we recently announced of select outreach lab assets of Allina Health in Minnesota and Wisconsin and OhioHealth in Ohio reflect our ability to partner with high-quality health systems and extend our presence in key geographies. Our recently completed PathAI Diagnostics acquisition positions us to rapidly scale digital pathology innovation to help health systems and other providers improve cancer diagnoses."
| Three Months Ended June 30, | | Six Months Ended June 30, | | ||||||||||
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| (dollars in millions, except per share data) | | ||||||||||||
Reported: | | | | | | | | | | | | | ||
Net revenues | $ 2,397 | | $ 2,338 | | 2.5 % | | $ 4,763 | | $ 4,669 | | 2.0 % | | ||
Diagnostic Information Services revenues | $ 2,333 | | $ 2,268 | | 2.8 % | | $ 4,631 | | $ 4,527 | | 2.3 % | | ||
Revenue per requisition | | | | | 1.6 % | | | | | | 0.9 % | | ||
Requisition volume | | | | | 1.1 % | | | | | | 1.4 % | | ||
Organic requisition volume | | | | | 0.7 % | | | | | | 0.9 % | | ||
Operating income (a) | $ 355 | | $ 348 | | 1.9 % | | $ 655 | | $ 653 | | 0.2 % | | ||
Operating income as a percentage of net revenues (a) | 14.8 % | | 14.9 % | | (0.1) % | | 13.7 % | | 14.0 % | | (0.3) % | | ||
Net income attributable to Quest Diagnostics (a) | $ 229 | | $ 235 | | (2.4) % | | $ 423 | | $ 437 | | (3.1) % | | ||
Diluted EPS (a) | $ 2.03 | | $ 2.05 | | (1.0) % | | $ 3.75 | | $ 3.83 | | (2.1) % | | ||
Cash provided by operations | $ 360 | | $ 444 | | (18.9) % | | $ 514 | | $ 538 | | (4.4) % | | ||
Capital expenditures | $ 92 | | $ 104 | | (10.8) % | | $ 196 | | $ 231 | | (14.9) % | | ||
| | | | | | | | | | | | | ||
Adjusted (a): | | | | | | | | | | | | | ||
Operating income | $ 398 | | $ 389 | | 2.1 % | | $ 747 | | $ 739 | | 1.0 % | | ||
Operating income as a percentage of net revenues | 16.6 % | | 16.7 % | | (0.1) % | | 15.7 % | | 15.8 % | | (0.1) % | | ||
Net income attributable to Quest Diagnostics | $ 266 | | $ 263 | | 1.4 % Werbung Mehr Nachrichten zur Quest Diagnostics Aktie kostenlos abonnieren
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