Slide 1: First Quarter 2014
First Quarter 2014 April 24, 2014
Slide 2: Safe Harbor Disclosure
Safe Harbor Disclosure This presentation may contain forward-looking statements. 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
Slide 3: Key Messages
Key Messages “We made progress executing our five-point strategy in the quarter, and saw signs of continued stabilization in underlying pricing, volume and revenue trends, despite the unusually harsh winter. We expect to show positive revenue growth beginning in the second quarter of 2014 and throug
Slide 4: Q1 2014 Performance
Q1 2014 Performance Continuing operations ($ in millions - except EPS) Q1 Δ 2013 Revenues $ 1,746 (2.3%) Rev/Req is lower by about 100 basis points each due to - DIS Revenues $ price erosion and our recent acquisitions, while changes in 1,614 (2.1%) business mix accounted for the remainder. Volumes
Slide 5: Our 5 Point Strategy
Our 5 Point Strategy 1 • Restore: Restore Growth 2 • Drive: Drive operational excellence 3 • Simplify: Simplify the organization to enable growth and productivity 4 • Refocus: Refocus on diagnostic information services • Deliver: Deliver disciplined capital deployment and strategically aligned 5 acc
Slide 6: 2014 Outlook
2014 Outlook* • Revenues to increase 2% to 4% compared to the prior year. • Adjusted Earnings per diluted share to be between $3.95 and $4.15. • Cash provided by operations to approximate $900 million. • Capital expenditures to approximate $300 million. * Before special items. | 6
Slide 7: Q1 2014 Reconciliation
Q1 2014 Reconciliation Three Months Ended March 31, 2014 (dollars in millions, except per share data) Restructuring and Integration Charges Other As Reported (a) (b) As Adjusted Operating income ...............................................................................$ 208 $ 24 $ 4 $ 236 Opera
Slide 8: Q1 2013 Reconciliation
Q1 2013 Reconciliation Three Months Ended March 31, 2013 (dollars in millions, except per share data) Restructuring and Integration Charges As Reported (d) As Adjusted Operating income..........................................................................................$ 227 $ 45 $ 272 Operating
Slide 9: Quest Diagnostics
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