On October 22, 2026 Quest Diagnostics Incorporated (NYSE: DGX), a leading provider of diagnostic information services, reported financial results for the third quarter ended September 30, 2026.

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"We delivered revenue growth of 10% and adjusted EPS growth of over 15% on continued strength across our physician, hospital and consumer channels, complemented by productivity gains from automation and AI," said Jim Davis, Chairman, CEO and President. "Our robust organic revenue growth demonstrates that our solutions are fulfilling the expanding clinical care needs of an aging population as well as the increasing number of people focused on prevention and wellness. With these growth trends and our strong performance, we are raising our revenue and EPS guidance for the full year."

Recent Highlights:

Announced the ability for iPhone and iPad users in the United States to conveniently purchase a tailored Quest laboratory test panel with over 50 biomarkers directly through the Apple Health app, available to the public later this year.
Finalized a definitive agreement to acquire select outreach lab assets from a leading health system and long-time Co-Lab Solutions customer in the Northeastern U.S. Continued to advance our Co-Lab Solutions implementation and joint venture lab with Corewell Health in Michigan.
Extended our AD-Detect menu to include the FDA-cleared Roche Elecsys Phospho-Tau (217P) Plasma (pTau217) blood test and launched a new AD-Detect test panel with pTau217, amyloid beta and APOE to help guide diagnosis and treatment decisions for Alzheimer’s disease.
Advanced Project Nova from the design phase to the solutions-build phase and continue to expect to deploy Epic solutions in our first lab in the fall of 2027.
The company will hold its 2027 Investor Day on March 25, 2027, at the New York Stock Exchange. Additional information will be provided closer to the event.

Three Months Ended September 30,

Nine Months Ended September 30,

2026

2025

Change

2026

2025

Change

(dollars in millions, except per share data)

Reported:

Net revenues

$ 3,097

$ 2,816

10.0 %

$ 9,035

$ 8,229

9.8 %

Diagnostic Information Services revenues

$ 3,035

$ 2,755

10.2 %

$ 8,845

$ 8,043

10.0 %

Revenue per requisition

(4.2) %

(2.8) %

Requisition volume

14.5 %

12.9 %

Organic requisition volume

14.4 %

12.8 %

Operating income (a)

$ 479

$ 386

24.2 %

$ 1,337

$ 1,170

14.3 %

Operating income as a percentage of net revenues (a)

15.5 %

13.7 %

1.8 %

14.8 %

14.2 %

0.6 %

Net income attributable to Quest Diagnostics (a)

$ 312

$ 245

27.6 %

$ 884

$ 747

18.4 %

Diluted EPS (a)

$ 2.78

$ 2.16

28.7 %

$ 7.86

$ 6.57

19.6 %

Cash provided by operations

$ 611

$ 563

8.8 %

$ 1,486

$ 1,421

4.6 %

Capital expenditures

$ 166

$ 144

15.0 %

$ 418

$ 369

13.2 %

Adjusted (a):

Operating income

$ 517

$ 458

13.0 %

$ 1,466

$ 1,330

10.3 %

Operating income as a percentage of net revenues

16.7 %

16.3 %

0.4 %

16.2 %

16.2 %

— %

Net income attributable to Quest Diagnostics

$ 338

$ 296

14.2 %

$ 969

$ 845

14.7 %

Diluted EPS

$ 3.00

$ 2.60

15.4 %

$ 8.62

$ 7.43

16.0 %

(a)

For further details impacting the year-over-year comparisons related to operating income, operating income as a percentage of net revenues, net income attributable to Quest Diagnostics, and diluted EPS, see note 2 of the financial tables attached below.

Updated Guidance for Full Year 2026

The company updates its full year 2026 guidance as follows:

Updated Guidance

Prior Guidance

Low

High

Low

High

Net revenues

$12.065 billion

$12.105 billion

$11.95 billion

$12.05 billion

Net revenues increase

9.3 %

9.7 %

8.3 %

9.2 %

Reported diluted EPS

$10.21

$10.31

$9.97

$10.17

Adjusted diluted EPS

$11.25

$11.35

$11.05

$11.25

Cash provided by operations

Approximately $1.90 billion

Approximately $1.80 billion

Capital expenditures

Approximately $550 million

Approximately $550 million

Note on Non-GAAP Financial Measures

As used in this press release the term "reported" refers to measures under accounting principles generally accepted in the United States ("GAAP"). The term "adjusted" refers to non-GAAP operating performance measures that exclude special items such as restructuring and integration charges, amortization expense, excess tax benefits ("ETB") associated with stock-based compensation, gains and losses associated with changes in the carrying value of our strategic investments and other items.

Non-GAAP adjusted measures are presented because management believes those measures are useful adjuncts to GAAP results. Non-GAAP adjusted measures should not be considered as an alternative to the corresponding measures determined under GAAP. Management may use these non-GAAP measures to evaluate our performance period over period and relative to competitors, to analyze the underlying trends in our business, to establish operational budgets and forecasts and for incentive compensation purposes. We believe that these non-GAAP measures are useful to investors and analysts to evaluate our performance period over period and relative to competitors, as well as to analyze the underlying trends in our business and to assess our performance. The additional tables attached below include reconciliations of non-GAAP adjusted measures to GAAP measures.

Conference Call Information

Quest Diagnostics will hold its quarterly conference call to discuss financial results beginning at 8:30 a.m. Eastern Time today. The conference call can be accessed by dialing 888-455-0391 within the U.S. and Canada, or 773-756-0467 internationally, passcode: 7895081; or via live webcast on our website at www.QuestDiagnostics.com/investor. We suggest participants dial in approximately 10 minutes before the call.

A replay of the call may be accessed online at www.QuestDiagnostics.com/investor or, from approximately 10:30 a.m. Eastern Time on October 22, 2026 until midnight Eastern Time on November 5, 2026, by phone at 866-388-5361 for domestic callers or 203-369-0416 for international callers. Anyone listening to the call is encouraged to read our periodic reports, on file with the Securities and Exchange Commission, including the discussion of risk factors and historical results of operations and financial condition in those reports.

(Press release, Quest Diagnostics, OCT 22, 2026, View Source [SID1234673673])