Quest Diagnostics Incorporated's (NYSE:DGX) net income rose in the second quarter.
Earnings and Revenue Both EPS and revenues failed to meet Wall Street expectations as The company posted adjusted net income of $1.17 a share and revenues of $1.91 billion. Analysts were expecting adjusted net income of $1.18 a share and revenues of $1.94 billion. The estimates of 17 analysts ranged from profit of $1.14 to profit of $1.22.
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The company's net income for the quarter was $177.7 million. According to the reported number, this is up 8.9% from last year's levels. Revenue climbed 0.2% from $1.9 billion in the same period last year.
Company Fundamental Trends The company's revenue has grown during at least each of the past four quarters on a year-over-year basis.
History Against Expectations The company missed forecasts after topping estimates in the previous two quarters. In the first quarter, it topped the mark by 7 cents, and in the fourth quarter of the last fiscal year, it was ahead by 17 cents.
Official Comment: "Quest Diagnostics delivered earnings growth and margin expansion in the quarter, despite revenues that were essentially unchanged from a year ago," said Steve Rusckowski, President and CEO. "We are accelerating our efforts to drive productivity improvements, reduce costs and restore revenue growth. And we remain focused on increasing shareholder returns through a combination of improved operating performance and disciplined capital deployment."
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.