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Quest Diagnostics Reports Fourth Quarter And Full Year 2017 Financial Results; Provides Guidance For Full Year 2018; Increases Dividend 11% To $0.50 Per Quarter

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SECAUCUS, N.J., Feb. 1, 2018 /PRNewswire/ — Quest Diagnostics Incorporated (NYSE: DGX), the world’s leading provider of diagnostic information services, announced today financial results for the fourth quarter and full year ended December 31, 2017.

“We delivered a strong fourth quarter, which included 4% revenue growth and 7% adjusted EPS growth,” said Steve Rusckowski, Chairman, CEO and President.  “In 2017 we made great progress accelerating growth and driving operational excellence.  We announced seven acquisitions and exited the year exceeding our $1.3 billion goal of cumulative run rate Invigorate savings.

“In 2018 our guidance for the full year is aligned with our long term outlook even before the meaningful benefit of tax reform.  We expect to deliver continued acceleration of top-line growth of 4-5% and more than 20% adjusted earnings growth, driven in part by solid mid to high single digit earnings growth from operations.”

Mr. Rusckowski continued, “Quest is a beneficiary of recent tax legislation, which enables us to further grow earnings per share and invest in our business and our people.  The benefits of tax reform will also help offset new Medicare reimbursement reductions under PAMA, which represent a headwind to our company and industry.”

Three Months Ended December 31,

Twelve Months Ended December 31,

2017

2016

Change

2017

2016

Change

(dollars in millions, except per share data)

Reported:

Net revenues (a) (c)

$

1,936

$

1,861

4.1

%

$

7,709

$

7,515

2.6

%

DIS revenues

$

1,853

$

1,773

4.5

%

$

7,370

$

7,138

3.3

%

Revenue per requisition

2.1

%

1.0

%

Requisition volume

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