8-KOther EventsExhibits & Filings

QUEST DIAGNOSTICS INC 8-K Report, Corporate Update (Sep 27, 2017)

Filed September 27, 2017For Securities:DGX

Summary

Quest Diagnostics Incorporated (DGX) filed an 8-K on September 27, 2017, to disclose the expected impact of recent hurricanes on its third-quarter 2017 financial results. The company anticipates a revenue reduction of approximately 1.5% and a negative impact of roughly $0.10 on both reported and adjusted diluted earnings per share for the quarter. Importantly, despite this hurricane-related setback, Quest Diagnostics reaffirmed its previously issued full-year 2017 guidance. This suggests that the company believes the hurricane impact is a temporary disruption and does not fundamentally alter its outlook for the entire year. Investors should monitor future reports to assess the recovery from these events and the company's ability to meet its full-year targets.

Key Highlights

  • 1Anticipates a ~1.5% reduction in Q3 2017 revenues due to recent hurricanes.
  • 2Expects Q3 2017 reported and adjusted diluted EPS to be negatively impacted by approximately $0.10 due to hurricanes.
  • 3Reaffirmed full-year 2017 guidance, indicating confidence beyond the Q3 disruption.
  • 4The disclosure was made via a press release filed as an exhibit to the 8-K.
  • 5The impact is specific to the third quarter of 2017.

Frequently Asked Questions

The primary reason for the expected reduction in revenues and earnings per share for the third quarter of 2017 is the impact of recent hurricanes.

Quest Diagnostics expects a revenue reduction of approximately 1.5% and a reduction of about $0.10 in both reported and adjusted diluted earnings per share for the third quarter.

No, the company reaffirmed its 2017 guidance provided on July 25, 2017, indicating that the hurricane impact is viewed as a temporary, Q3-specific event.

The press release dated September 27, 2017, is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference.