Quest Diagnostics CEO Steve Rusckowski Reaffirms Full-Year 2013 Guidance At The Jefferies 2013 Global Healthcare Conference
- Revenues are expected to approximate the prior-year level;
- Earnings per diluted share are expected to be between
$4.35 and $4.55;
- Cash provided by operations is expected to approximate
$1 billion; and,
- Capital expenditures are expected to approximate
In his remarks, Mr. Rusckowski stated: "We remain comfortable with our guidance for the full-year 2013 as we are making good progress on all five points of our business strategy. As we've said, 2013 is a building year and we expect to see improvements in revenues and earnings versus the prior year starting in the second half. Second quarter revenues and earnings are expected to be down versus the prior year, but improved compared to first quarter results."
Mr. Rusckowski also stated: "We continue to anticipate stronger performance in the second half, as compared to the first half, due to easier comparisons and because we are making progress in our efforts to drive operational excellence and restore growth. We expect year-over-year benefits of our Invigorate cost savings program to ramp up significantly in the second half, contributing approximately twice what it is expected to contribute in the first half."
Separately, the company announced it is making progress in the search for a new Chief Financial Officer. Robert A. Hagemann, Senior Vice President and CFO, has agreed to delay his departure previously planned for