(Reuters) – Laboratory operator Quest Diagnostics beat Wall Street estimates for fourth-quarter profit and revenue on Thursday, helped by a robust appetite for its diagnostic tests.
The company expects an annual revenue between $10.70 billion and $10.85 billion, above analysts’ average estimate of $10.67 billion, according to data compiled by LSEG.
Quest expects its 2025 adjusted profit to be in the range of $9.55 to $9.80 per share, compared with estimates of $9.75 per share.
CEO Jim Davis said the outlook for 2025 reflects continuing robust healthcare demand trends, and momentum from acquisitions completed in 2024.
Demand for diagnostic tests has grown in recent quarters as more people, especially older adults, caught up on procedures after the pandemic.
The company completed a C$1.35 billion ($936.46 million)takeover of Canada-based LifeLabs in August, which deepened its presence in the Canadian market.
New Jersey-based Quest’s fourth-quarter sales rose 14.5% to $2.62 billion, beating estimates of $2.58 billion.
On an adjusted basis, Quest’s profit of $2.23 per share in the quarter ended Dec. 31 was above estimates of $2.19.
($1 = 1.4416 Canadian dollars)
(Reporting by Puyaan Singh in Bengaluru; Editing by Vijay Kishore)
Comments