Quest Diagnostics (NYSE:DGX) +2% expects FY20 GAAP EPS $7.42-$8.92 from prior guidance of $5.66-$7.66 –
FY20 Adjusted EPS $7.50-$9.00 from previous outlook of $6.60-$8.60 vs. $8.03.
Net revenue $8.4B-$8.8B from guidance of $8.0B-$8.6B vs. $8.55B
FY20 Cash provided by operations to be at least $1.45B from prior outlook of at least $1.25B.
Since the company reported its financial performance for the second quarter of 2020 on July 23, 2020, organic testing volumes in its base business (excluding COVID-19 molecular and antibody testing and the impact of acquisitions), continued to recover faster than anticipated through the end of August. Organic base testing volumes declined high single digits in July and mid-to-high single digits in August on a percentage basis versus the prior year. COVID-19 molecular and antibody testing volumes remain consistent with the company’s previous outlook.
https://seekingalpha.com/news/3612827-quest-diagnosticsplus-2-on-raising-fy20-guidance
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