Today witnessed a surge in Quest Diagnostics' stock value.
Quest Diagnostics' stock was on a roll on Thursday, inching ever closer to its all-time high. With a 5% surge in late afternoon trading, the healthcare testing giant outpaced the S&P 500's 0.8% gain. The cause of this bull run? Just announced fourth-quarter and full-year 2024 earnings results that left investors in awe.
Scores from all angles
The impressive numbers presented in Quest's earnings report were hard to overlook. For the quarter, the company brought in a hefty $2.62 billion in revenue, marking a 14.5% year-over-year increase. Even better, non-GAAP net income attributable to the company saw a 4% bump to hit $253 million, translating to $2.23 per share. Both figures surpassed analyst predictions.
In its earnings release, Quest attributed these successes to a multitude of factors, including strategic acquisitions and broadening its product portfolio.
Setting sights on the future
With confidence in its performance, Quest shared full-year 2025 revenue projections that outshone analyst expectations. The company projects its net revenues will fall between $10.7 billion and $10.85 billion, far surpassing the $10.67 billion consensus estimate. Predicting adjusted diluted EPS, Quest aims for a range between $9.55 and $9.80, which cushions the average analyst prediction of $9.72.
The diagnostics sector's leader continues to shine, and its business seems poised to receive a boost from the aging American population's increasing need for healthcare services.
Quest's robust financial performance and strategic initiatives set the stage for continued success in the coming years.
Investors were thoroughly impressed by Quest Diagnostics' financial performance, leading to increased interest in investing in the company. With the company's strong earnings report, its non-GAAP net income attributable to the company saw a significant increase, making it an attractive opportunity for those interested in finance and investment.
With its impressive earnings results, Quest Diagnostics is poised to continue its growth trajectory, providing ample opportunities for those looking to invest in the healthcare sector and finance their portfolio.
