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Quest Diagnostics Incorporated (NYSE: DGX), the world's leading provider of diagnostic information services, announced today financial results for the first quarter ended March 31, 2019.[CR-LF][CR-LF]"We're off to a good start in 2019, with solid volume growth from our expanded health plan access," said Steve Rusckowski, Chairman, President and CEO. "As we anticipated, volume accelerated through the quarter, and we look forward to continued progress as a member of UnitedHealthcare's Preferred Lab Network beginning July 1. We continue to drive productivity to address ongoing reimbursement pressure, and are well positioned to meet our financial commitments for the remainder of 2019."

Quest Diagnostics today reported revenues for its first quarter were up a fraction of 1 percent year over year.[CR-LF][CR-LF]For the three months ended March 31, total revenues inched up to $1.89 billion from $1.88 billion in Q1 2018, beating analysts' average estimate of $1.87 billion. Revenues from Diagnostic Information Services grew to $1.81 billion from $1.80 billion.[CR-LF][CR-LF]On a conference call following the release of the results, Quest President, CEO, and Chairman Steve Rusckowsi said that test volume grew almost 4 percent year over year. Key test growth drivers in the quarter included tuberculosis, Cardio IQ, drug monitoring, and hemapathology blood cancer testing, "all of which showed revenue growth" in Q1.

Quest Diagnostics, the world's leading provider of diagnostic information services, launched three new sexually transmitted disease (STD) laboratory test packages that individuals can purchase online for some of the most prevalent STDs in the United States. The new STD test packages are the first to be offered directly by Quest Diagnostics or any other major national laboratory to allow individuals to purchase tests at their discretion. These new packages have been designed to meet the needs of individuals who want accurate basic or comprehensive STD testing.[CR-LF][CR-LF]The new services are designed to empower individuals to access STD screening when they are reluctant to engage their healthcare provider directly. Research by Quest Diagnostics shows that patients and healthcare providers often fail to discuss sexual behavior and STD risk. According to a survey commissioned by Quest, 51 percent of females age 18-24 years say they don't want to bring up for discussion the topics of sex or STDs with their clinicians and 49 percent claim their clinician has never asked if they want STD testing.

Shares of Quest Diagnostics (DGX - Get Report) climbed 7.4% to $91.50 Tuesday after the diagnostic testing company reported better-than-expected first-quarter earnings.[CR-LF][CR-LF]The Secaucus, N.J.-based company reported net income of $164 million, or $1.20 a share, down from $177 million, or $1.52 a share, a year ago. Adjusted earnings came to $1.40 a share, surpassing analyst's forecasts of $1.36.[CR-LF][CR-LF]Revenue totaled $1.89 billion, up 0.4% from a year ago, and beat Wall Street's expectation of $1.87 billion. Cash provided by operations was $275 million, up 53.4% from 2018.

Quest Diagnostics (DGX) Q1 results: Revenues: $1,891M (+0.4%).[CR-LF][CR-LF]Net Income: $164M (-7.3%); Non-GAAP Net Income: $190M (-10.0%); EPS: $1.20 (-5.5%); Non-GAAP EPS: $1.40 (-7.9%); CF Ops: $275M (+52.8%).[CR-LF][CR-LF]2019 Guidance: Revenues: $7.6B - $7.75B (unch); EPS: >$5.16 (unch); Non-GAAP EPS: >$6.40 (unch); CF Ops: ~$1.3B (unch).[CR-LF][CR-LF]The consensus Revenue and GAAP EPS estimate was $1.87B and $1.38, respectively.