Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date that they are made and which reflect management's current estimates, projections, expectations or beliefs and which involve risks and uncertainties that could cause actual results and outcomes to be materially different. ![]() The statements in this press release which are not historical facts may be forward-looking statements. The additional tables attached below include reconciliations of non-GAAP adjusted measures to GAAP measures. We believe that these non-GAAP measures are useful to investors and analysts to evaluate our performance period over period and relative to competitors, as well as to analyze the underlying trends in our business and to assess our performance. Management may use these non-GAAP measures to evaluate our performance period over period and relative to competitors, to analyze the underlying trends in our business, to establish operational budgets and forecasts and for incentive compensation purposes. Non-GAAP adjusted measures should not be considered as an alternative to the corresponding measures determined under GAAP. Non-GAAP adjusted measures are presented because management believes those measures are useful adjuncts to GAAP results. The term "adjusted" refers to non-GAAP operating performance measures that exclude special items such as restructuring and integration charges, certain financial impacts resulting from the COVID-19 pandemic, amortization expense, excess tax benefits ("ETB") associated with stock-based compensation, costs associated with donations, contributions, and other financial support through Quest for Health Equity (our initiative with the Quest Diagnostics Foundation to reduce health disparities in underserved communities), gains and losses associated with changes in the carrying value of our strategic investments, and other items. Based on our strong performance in the quarter and our expectations for the remainder of 2022 we have raised our full year guidance."Īs used in this press release the term "reported" refers to measures under accounting principles generally accepted in the United States ("GAAP"). We continue to make investments to further accelerate growth in the base business, while our efforts to improve productivity are helping us to offset inflationary pressures. "COVID-19 volumes remained strong early in the quarter and decreased in February and March, in line with the market. "We're off to a good start in 2022, as we drove strong year-over-year growth in our base business, which excludes COVID-19 testing," said Steve Rusckowski, Chairman, CEO and President. SECAUCUS, N.J., Ap/PRNewswire/ - 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, 2022. Full year 2022 reported diluted EPS now expected to be between $7.88 and $8.38 and adjusted diluted EPS expected to be between $9.00 and $9.50.Base business revenues of $2.01 billion, up 6.3% from 2021.First quarter reported diluted earnings per share ("EPS") of $2.92, down 15.6% from 2021 and adjusted diluted EPS of $3.22, down 14.4% from 2021.First quarter revenues of $2.61 billion, down 4.0% from 2021.Usually, it is the Company Designated Employer Representative (DER) that receives the drug test results and works with the MRO. All users in the web portal must have unique log on credentials. MRO reviewed final drug test results are released in the web portal for employer review by authorized contacts only for each designated employer. ![]() Non-negative results are reported just as soon as the MRO completes the review and verification which begins same day the result is received from the lab. Negative results are reported within 1 – 2 business days from time laboratory receives specimen. The process is in compliance with 49 CFR Part 40 regulations. This is a secure and confidential conversation. ![]() For non-negative results, the MRO review and verification process is completed via phone conversation with the applicant or employee. For negative results there is an automated review in our system unless there are exceptions present. Test results are not made available to employer representatives until the MRO authorizes final verification.
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