Quest Diagnostics (DGX) Revenue — Quarter Ended Sep 30, 2023
Revenue for the quarter declined compared to both the immediately preceding quarter and the same quarter one year earlier. The trend shows a continued year-over-year contraction in the trailing twelve-month revenue.
Key takeaway
Quarter ended Sep 30, 2023 · FY2023 Q3
Revenue for the quarter declined compared to both the immediately preceding quarter and the same quarter one year earlier. The trend shows a continued year-over-year contraction in the trailing twelve-month revenue.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$2.3B
Revenue reported for this quarter.
Quarter-over-quarter
-1.8%
Change from the immediately preceding quarter.
Year-over-year
-7.7%
Change from the comparable year-ago quarter.
Trailing four quarters
$9.3B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2022 | $2.3B | -15.0% |
| Mar 31, 2023 | $2.3B | -10.7% |
| Jun 30, 2023 | $2.3B | -4.7% |
| Sep 30, 2023 | $2.3B | -7.7% |
Revenue performance
The reported revenue was lower than the prior quarter, reflecting a sequential decline. When measured against the same period a year ago, the decrease was more pronounced.
Quarterly comparison
From the immediately preceding quarter, the revenue moved downward. Compared with the same quarter one year earlier, the revenue also fell, indicating a weaker performance on both bases.
What to watch
Operating cash flow for the nine-month period decreased significantly versus the prior year, partly attributed to lower operating income and changes in the collection timing of COVID-19 testing revenues.