Quest raises annual forecast as routine testing recovery powers quarterly beat

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SaltWire's Atlantic regional weather forecast for October 24, 2023 | SaltWire - Laboratory operator Quest Diagnostics on Tuesday raised its full-year sales forecast after beating third-quarter expectations for revenue and profit, buoyed by a recovery in routine testing.

That extends a rebound in routine health check-ups delayed due to pandemic-related lockdowns for diagnostic firms like Quest and eases the blow from plunging demand for COVID-19 tests.The company also raised its 2023 base business sales forecast to $8.99 billion to $9.04 billion, from $8.92 billion to $9.02 billion earlier.

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