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Quest Diagnostics Raises Full Year 2021 Guidance Due to Strong COVID-19 Molecular Test Demand

NEW YORK – Quest Diagnostics on Thursday updated its full year 2021 guidance, raising its revenue projections to between $9.84 billion and $10.09 billion, up from its previous guidance of $9.54 billion to $9.79 billion.

The adjusted numbers represent a net revenue increase of between 4 percent and 7 percent year over year.

The company said it was raising its guidance due to stronger than anticipated demand for molecular COVID-19 testing driven by the rise of the Delta variant. It said it expects this demand to remain elevated in the second half of the year and projected at the low end 40,000 molecular tests per day in H2 2021.

Quest said that its organic testing volumes remain consistent with its previous guidance.

Adjusted diluted EPS for full year 2021 is now expected to be between $11.65 and $12.35 compared to the previous outlook of $10.65 to $11.35.