Quest Diagnostics(DGX) - 2025 Q1 - Quarterly Results

Financial Performance - First quarter revenues reached $2.65 billion, representing a 12.1% increase compared to 2024[3] - Reported diluted EPS for the first quarter was $1.94, up 12.8% from 2024; adjusted diluted EPS was $2.21, an increase of 8.3%[3] - Operating income for the first quarter was $346 million, a 15.4% increase from the previous year, with operating income as a percentage of net revenues at 13.0%[2] - Net income for the three months ended March 31, 2025, was $235 million, an increase of 12.99% compared to $208 million in the same period of 2024[20] - Adjusted diluted EPS for the three months ended March 31, 2025, was $2.21, compared to $1.72 in the same period of 2024, reflecting a 28.49% increase[21] Revenue Guidance - The company reaffirmed its full year 2025 revenue guidance, expecting net revenues between $10.70 billion and $10.85 billion, reflecting an increase of 8.4% to 9.9%[4] - The company anticipates full year 2025 reported diluted EPS to be between $8.62 and $8.87, and adjusted diluted EPS to remain between $9.55 and $9.80[3] - The outlook for adjusted diluted EPS for the full year 2025 is estimated to be between $9.55 and $9.80[23] Cash Flow and Operations - Cash provided by operations for the first quarter was $314 million, a significant increase of 103.4% compared to 2024[2] - Net cash provided by operating activities increased to $314 million, up from $154 million year-over-year, representing a growth of 103.9%[20] - The company reported a net cash used in investing activities of $115 million, a decrease from $213 million in the prior year[20] Capital Expenditures - Capital expenditures for the first quarter totaled $117 million, an increase of 11.9% from the previous year[2] - Total capital expenditures for the three months ended March 31, 2025, were $117 million, compared to $104 million in the same period of 2024[20] Assets and Liabilities - Total assets as of March 31, 2025, were $15.80 billion, down from $16.15 billion at the end of 2024[17] - Cash and cash equivalents at the end of the period decreased to $188 million from $474 million, a decline of 60.4%[20] Other Expenses - The company incurred $19 million in restructuring and integration charges during the three months ended March 31, 2025[22] - Estimated pre-tax amortization expenses for the full year 2025 are projected to be $160 million[26] Operational Metrics - Diagnostic Information Services revenues for the first quarter were $2.59 billion, up 12.7% from 2024[2] - Requisition volume increased by 12.4% in the first quarter, although organic requisition volume saw a slight decline of 0.9%[2]