On April 21, 2026 Quest Diagnostics Incorporated (NYSE: DGX), a leading provider of diagnostic information services, reported financial results for the first quarter ended March 31, 2026.

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"Our more than 9% revenue growth, almost entirely organic, and approximately 13% adjusted diluted earnings per share growth reflect our team’s disciplined execution of our strategy to deliver innovative diagnostic solutions for our customers’ evolving needs," said Jim Davis, Chairman, CEO and President. "We are raising our revenue and EPS guidance for the year, given our robust first quarter performance and continued strategic focus."

Recent Highlights:

Serving Clinicians and Health Systems

Continued to advance our Co-Lab Solutions implementation and joint venture laboratory with Corewell Health, a leading health system in Michigan.
Scaled our lab and water purity testing solutions for several dialysis clinics and hospitals, extending our reach beyond dialysis clinics owned by Fresenius Medical Care in the United States.
Serving Consumers

Grew revenues robustly across the consumer channel through our questhealth.com platform and collaborations with top consumer health companies.
Delivering Diagnostic Innovations

Generated double-digit revenue growth in several areas of Advanced Diagnostics, including for our Quest AD-Detect blood tests for Alzheimer’s disease and in several clinical areas of advanced cardiometabolic and endocrine disease.
Formed a research collaboration with City of Hope to study the use of Haystack MRD as an aid in cancer monitoring and treatment decisions for four solid tumor cancers at 14 U.S. sites.
Driving Operational Excellence

Launched our AI Companion tool to help patients better understand their lab test reports. Patients have engaged Quest AI Companion approximately 350,000 times since we rolled it out to users of our myQuest patient app earlier this quarter.
Advanced our planning and design work for Project Nova, our multi-year initiative to transform our order-to-cash processes and systems, with plans to implement our first wave of solutions in the fall of 2027.

Three Months Ended March 31,

2026

2025

Change

(dollars in millions, except per share data)

Reported:

Net revenues

$ 2,895

$ 2,652

9.2 %

Diagnostic Information Services revenues

$ 2,832

$ 2,589

9.4 %

Revenue per requisition

(1.3) %

Requisition volume

10.9 %

Organic requisition volume

10.8 %

Operating income (a)

$ 399

$ 346

15.5 %

Operating income as a percentage of net revenues (a)

13.8 %

13.0 %

0.8 %

Net income attributable to Quest Diagnostics (a)

$ 252

$ 220

14.4 %

Diluted EPS (a)

$ 2.24

$ 1.94

15.5 %

Cash provided by operations

$ 278

$ 314

(11.6) %

Capital expenditures

$ 114

$ 117

(1.8) %

Adjusted (a):

Operating income

$ 447

$ 406

10.0 %

Operating income as a percentage of net revenues

15.4 %

15.3 %

0.1 %

Net income attributable to Quest Diagnostics

$ 281

$ 251

12.1 %

Diluted EPS

$ 2.50

$ 2.21

13.1 %

(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

$11.78 billion

$11.90 billion

$11.70 billion

$11.82 billion

Net revenues increase

6.8 %

7.8 %

6.0 %

7.1 %

Reported diluted EPS

$9.58

$9.78

$9.45

$9.65

Adjusted diluted EPS

$10.63

$10.83

$10.50

$10.70

Cash provided by operations

Approximately $1.75 billion

Approximately $1.75 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 April 21, 2026 until midnight Eastern Time on May 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, APR 21, 2026, View Source [SID1234664618])