Quest Diagnostics Reports Fourth Quarter and Full Year 2022 Financial Results; Provides Guidance for Full Year 2023

Original from: Quest Diagnostics

Quest Diagnostics Incorporated (NYSE: DGX), the world's leading provider of diagnostic information services, announced today financial results for the fourth quarter and full year ended December 31, 2022.

"Quest had another strong year in 2022, with base business revenues growing more than 6% in the fourth quarter, and 5% for the full year," said Jim Davis, CEO and President. "COVID-19 testing revenues declined as expected but still exceeded $1.4 billion in 2022. 

"In 2023, our focus is on growing our base business and increasing our efforts to drive productivity and expand margins. Our guidance for the full year reflects continued growth in the base business, tailwinds from recent Medicare reimbursement changes, investments to accelerate growth, and declining COVID-19 revenues."

Guidance for Full Year 2023

We estimate full year 2023 guidance as follows:

About Quest Diagnostics

Quest Diagnostics empowers people to take action to improve health outcomes. Derived from the world's largest database of clinical lab results, our diagnostic insights reveal new avenues to identify and treat disease, inspire healthy behaviors and improve health care management. Quest annually serves one in three adult Americans and half the physicians and hospitals in the United States, and our nearly 50,000 employees understand that, in the right hands and with the right context, our diagnostic insights can inspire actions that transform lives. 

Source: Quest Diagnostics Reports Fourth Quarter and Full Year 2022 Financial Results; Provides Guidance for Full Year 2023