On July 23, 2026 Quest Diagnostics Incorporated (NYSE: DGX), a leading provider of diagnostic information services, reported financial results for the second quarter ended June 30, 2026.
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"Our robust top- and bottom-line growth in the second quarter demonstrates focused execution of our strategy to connect people and providers to innovative testing and actionable insights that illuminate paths for better health," said Jim Davis, Chairman, CEO and President. "Revenues increased by over 10%, almost all from organic revenue growth across our physician, hospital and consumer channels, and adjusted diluted EPS grew over 19%. With strong growth and sustained demand for our diagnostic insights, we are again raising our full year guidance."
Recent Highlights:
Serving Customers and Delivering Innovations
Continued to advance our Co-Lab Solutions implementation and joint venture laboratory with Corewell Health in Michigan and developed new capabilities in kidney care through our collaboration with Fresenius Medical Care in the United States.
Generated robust revenue growth through questhealth.com and our consumer, wearable and wellness partners.
Grew revenues by double-digits in several areas of Advanced Diagnostics, including Quest AD-Detect blood tests for Alzheimer’s disease and advanced cardiometabolic and endocrine tests, including liver fibrosis testing.
Granted New York State approval for our Haystack MRD test and became the largest reference lab to utilize Flatiron Health’s OncoEMR Molecular Profiling Integration (MPI) platform for select cancer tests, including Haystack MRD, starting with a pilot with American Oncology Network (AON).
Driving Operational Excellence
In the lab, extended automation solutions to improve quality and productivity in cervical cancer screening and front-end specimen processing to additional labs.
Outside the lab, launched IntelliDraw to guide clinical staff of our physician customers through specimen collection, to enhance quality and the service experience.
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
Change
2026
2025
Change
(dollars in millions, except per share data)
Reported:
Net revenues
$ 3,043
$ 2,761
10.2 %
$ 5,938
$ 5,413
9.7 %
Diagnostic Information Services
revenues
$ 2,978
$ 2,699
10.3 %
$ 5,810
$ 5,288
9.9 %
Revenue per requisition
(2.8) %
(2.1) %
Requisition volume
13.1 %
12.0 %
Organic requisition volume
13.0 %
11.9 %
Operating income (a)
$ 459
$ 438
4.6 %
$ 858
$ 784
9.4 %
Operating income as a percentage of net
revenues (a)
15.1 %
15.9 %
(0.8) %
14.4 %
14.5 %
(0.1) %
Net income attributable to Quest
Diagnostics (a)
$ 320
$ 282
13.4 %
$ 572
$ 502
13.9 %
Diluted EPS (a)
$ 2.84
$ 2.47
15.0 %
$ 5.08
$ 4.41
15.2 %
Cash provided by operations
$ 597
$ 544
9.7 %
$ 875
$ 858
1.9 %
Capital expenditures
$ 138
$ 108
27.0 %
$ 252
$ 225
12.1 %
Adjusted (a):
Operating income
$ 502
$ 466
7.8 %
$ 949
$ 872
8.8 %
Operating income as a percentage of net
revenues
16.5 %
16.9 %
(0.4) %
16.0 %
16.1 %
(0.1) %
Net income attributable to Quest
Diagnostics
$ 350
$ 298
17.3 %
$ 631
$ 549
14.9 %
Diluted EPS
$ 3.12
$ 2.62
19.1 %
$ 5.62
$ 4.83
16.4 %
(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
$11.95 billion
$12.05 billion
$11.78 billion
$11.90 billion
Net revenues increase
8.3 %
9.2 %
6.8 %
7.8 %
Reported diluted EPS
$9.97
$10.17
$9.58
$9.78
Adjusted diluted EPS
$11.05
$11.25
$10.63
$10.83
Cash provided by operations
Approximately $1.80 billion
Approximately $1.75 billion
Capital expenditures
Approximately $550 million
Approximately $550 million
Based on the favorable resolution of various tax contingencies in the second quarter, the full year adjusted effective tax rate is expected to be consistent with 2025.
(Press release, Quest Diagnostics, JUL 23, 2026, View Source [SID1234669391])