Summary
Quest Diagnostics Incorporated (DGX) filed an 8-K on June 27, 2013, primarily to provide investors with a reconciliation of "as adjusted" diluted earnings per share (EPS) from continuing operations for the four quarters of 2012. This filing does not contain new operational or strategic updates but offers additional clarity on how the company calculated its adjusted EPS for the previous fiscal year. Investors should review Exhibit 99.1, which contains the detailed reconciliation, to understand the specific adjustments made to GAAP EPS to arrive at the reported "as adjusted" figures.
Key Highlights
- 1The 8-K filing is for Regulation FD disclosure, ensuring broad public access to information.
- 2The primary purpose is to present a reconciliation of 'as adjusted' diluted EPS from continuing operations.
- 3The reconciliation covers the quarters ended March 31, June 30, September 30, and December 31, 2012.
- 4Exhibit 99.1, attached to the filing, contains the detailed 'as adjusted' EPS reconciliation.
- 5This filing does not appear to include any new financial results, strategic initiatives, or material events.
- 6Investors are directed to the exhibit for a deeper understanding of the EPS adjustments.
Frequently Asked Questions
The main purpose of this 8-K filing is to provide investors with a reconciliation of Quest Diagnostics' 'as adjusted' diluted earnings per share (EPS) from continuing operations for the four quarters of 2012. This ensures that all investors have access to the same information regarding how these adjusted figures were calculated.
No, this filing does not appear to indicate any new financial performance, strategic changes, or material events. Its sole purpose is to provide a retrospective reconciliation of previously reported 'as adjusted' EPS figures for 2012.
The detailed reconciliation of the 'as adjusted' diluted earnings per share from continuing operations for the specified quarters of 2012 is provided in Exhibit 99.1, which is filed as part of this Current Report on Form 8-K.
Companies often provide 'as adjusted' EPS figures to present a view of their earnings that excludes certain items they believe are not representative of ongoing operational performance. These adjustments might include items like restructuring charges, acquisition-related costs, or other one-time events. The reconciliation clarifies what specific items were excluded and how the 'as adjusted' figure was derived from the GAAP (Generally Accepted Accounting Principles) EPS.