Quest Diagnostics earnings

Quest Diagnostics has raised its 2024 profit and revenue forecasts, largely driven by strong demand for health tests as patients resume deferred surgeries from the pandemic. The company now expects an adjusted profit of $8.80 to $9.00 per share and revenue between $9.50 billion and $9.58 billion, reflecting a positive outlook despite not accounting for its pending acquisition of LifeLabs. In its second quarter, Quest reported adjusted earnings of $2.35 per share, surpassing analyst estimates of $2.34, with revenues of $2.40 billion, which also exceeded expectations. Several analysts have adjusted their ratings and price targets for Quest, indicating a generally favorable market perception. However, despite these positive results, Quest's stock has underperformed relative to the S&P 500 this year. The future trajectory of the stock will largely depend on management's commentary regarding earnings expectations and market conditions.