Stronger-than-anticipated demand for Covid-19 testing, fueled in part by the spread of the highly contagious Delta variant, is ramping up revenue for local laboratories.
Illustrating the extent of the boom, Quest Diagnostics of Secaucus, N.J., on Thursday raised its full-year revenue outlook by hundreds of millions of dollars. The company cited “stronger than anticipated” demand for its molecular Covid-19 tests since it released its second-quarter financial results and full-year guidance July 22.
Quest now expects a full-year net revenue of $9.8 billion to almost $10.1 billion, up from the outlook of $9.5 billion to $9.8 billion it reported in July. Adjusted diluted earnings are projected to reach $11.65
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