Quest Diagnostics beats Q2 consensus; reinstates FY2020 outlook

Quest Diagnostics (DGX) Q2 results:

Revenues: $1,827M (-6.5%); R&D Expense: $1,764M (-5.8%).

EPS: $1.36 (-9.9%); non-GAAP Net Income: $193M (-18.6%); non-GAAP EPS: $1.42 (-17.9%).

CF Ops: $602M (+1.0%); non-GAAP operating income: $294M (-16.5%).

The company reinstated its FY 2020 outlook after withdrawing it in April 2020. Current estimates are as follows:

Net revenues: $8.0B-8.6B. The average consensus is $8.52B; GAAP EPS: $5.66-7.66; non-GAAP EPS: $6.60-8.60. The average analyst estimate is $8.22; CF Ops: at least $1.25B.

https://seekingalpha.com/news/3594164-quest-diagnostics-beats-q2-consensus-reinstates-fy2020-outlook