Slide 1: First Quarter 2015
First Quarter 2015 April 23, 2015
Slide 2: Safe Harbor Disclosure
Safe Harbor Disclosure The statements in this presentation which are not historical facts may be 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 esti
Slide 3: Key Messages
Key Messages “We grew revenues by 5%, adjusted EPS by 13% and adjusted operating income by 14% in the first quarter despite the harsh winter in many parts of the country. We continue to refocus on our core diagnostic information services business and deliver disciplined capital deployment. During th
Slide 4: Q1 2015 Performance
Q1 2015 Performance Continuing operations ($ in millions - except EPS) Q1 Δ 2014 In Q1 2015, consolidated revenues grew 5.3%. On an Revenues $ 1,839 5.3% organic basis, consolidated revenues grew 0.7%. - DIS Revenues $ 1,692 4.9% Excluding acquisitions, our DIS revenues, volumes and rev/req were all
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: 2015 Outlook
2015 Outlook* Revenues to increase 2% to 3% compared to the prior year. Adjusted diluted EPS excluding amortization expense to be between $4.70 and $4.85. Adjusted cash provided by operations to approximate $850 million. Capital expenditures to approximate $300 million. * Before special item
Slide 7: Non-GAAP Reconciliations
Non-GAAP Reconciliations Three Months Ended March 31, 2015 2014 (dollars in millions, except per share data) Adjusted operating income: Operating income $ 228 $ 208 Restructuring and integration charges (a) 31 24 Other (b) 10 4 Adjusted operating income $ 269 $ 236 Adjusted operating income as a per
Slide 8: Non-GAAP Reconciliations
Non-GAAP Reconciliations Three Months Ended March 31, 2015 2014 (dollars in millions, except per share data) Adjusted diluted EPS excluding amortization expense: Diluted earnings per common share $ 0.42 $ 0.71 Charges on retirement of debt and related refinancing charges (c) 0.36 — — Restructuring a
Slide 9: Non-GAAP Reconciliations
Non-GAAP Reconciliations (a) Represents costs primarily associated with workforce reductions and professional fees incurred in connection with further restructuring and integrating our business. The following table summarizes the impact of restructuring and integration charges on the company's conso
Slide 10: 2015 Outlook
2015 Outlook The following table reconciles our 2015 outlook for adjusted diluted EPS excluding amortization expense and adjusted cash provided by operations to the corresponding amounts determined under accounting principles generally accepted in the United States: Low High Adjusted diluted EPS exc
Slide 11: Quest Diagnostics
(@, Quest Diagnostics