Quest Diagnostics: Earnings Preview

Zacks.com submits:

Quest Diagnostics (DGX) is scheduled to release its second quarter fiscal 2011 results on Wednesday, July 20, 2011, before the market opens. The company is expected to earn $1.13 during the quarter on $1,913 million in revenues, according to the Zacks Consensus Estimate.

Previous Quarter Highlights

Quest Diagnostics reported an adjusted EPS of $1.00 during the first quarter of fiscal 2011, a penny above the Zacks Consensus Estimate and the year-ago quarter. Revenues for the quarter increased 1% year over year to $1.8 billion, in line with the Zacks Consensus Estimate. A 10.5% decline in the number of outstanding shares had a favorable impact on earnings.

The adjusted earnings in the reported quarter excludes the impact of severe weather ($0.07), costs associated with workforce reduction ($0.05) and transactions ($0.02) related to Athena Diagnostics and Celera Corporation. The year-ago period also witnessed the impact of severe weather ($0.05) and restructuring charges


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