How did DGX's Q1 2024 EPS outperform forecasts?

Quest Diagnostics' (DGX) Q1 2024 EPS outperformed forecasts due to several key factors: 1. **Strong Base Business Growth**: The company's base business, which includes routine testing and services, experienced significant growth. This was driven by strong demand for routine test kits and a strategic focus on operational excellence. 2. **Cost Management**: Quest Diagnostics effectively managed costs, particularly in the services segment, which contributed to higher profitability. The cost of services decreased by 1.5% year-over-year, resulting in a gross profit of $736 million and a gross margin of 32.2%. In summary, Quest Diagnostics' Q1 2024 EPS outperformance can be attributed to strong base business growth and effective cost management. These factors collectively contributed to the company's financial strength and profitability during the period.