On July 23, Quest Diagnostics rose 6.28% in pre-market trading, trading at $222.0/share, with turnover of $8.086 million. The surge was driven by the company's Q2 earnings release, which significantly exceeded analyst expectations alongside an upward revision to full-year guidance.

Quest Diagnostics reported Q2 adjusted EPS of $3.12, beating the consensus estimate of $2.83 by 10.25% and representing a 19.08% year-over-year increase from $2.62. Revenue came in at $3.043 billion, surpassing the $2.973 billion estimate and reflecting approximately 9% year-over-year growth. Management simultaneously raised full-year revenue and EPS guidance, building on the prior upward revision made after Q1 results in April, when the company had already lifted its adjusted EPS outlook to $10.63-$10.83 versus the then-FactSet estimate of $10.63.

The strong quarterly performance extends a consistent beat-and-raise pattern, supported by robust diagnostic service demand, laboratory automation investments with 60-70% of strategic resources allocated to this area, AI-powered operational improvements, and expanding oncology testing capabilities including the Haystack MRD platform now available in all 50 US states.

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