Quest Diagnostics Inc

Latest Results (30.08.2026):

Quest Diagnostics Inc - second quarter of 2026: Revenues were $3.04 billion, up 10.2% versus 2025 (10.0% organic growth), reported diluted EPS was $2.84 (up 15.0% y/y) and adjusted diluted EPS was $3.12 (up 19.1% y/y). Management raised full‑year 2026 guidance for revenue and EPS following the strong quarter.

Revenue and growth

Net revenues: $3.043 billion in Q2 2026, +10.2% versus Q2 2025; organic revenue growth reported at 10.0%. Diagnostic Information Services revenue was $2.978 billion, +10.3% year‑over‑year.

Earnings and profitability

Reported diluted EPS: $2.84 (+15.0% y/y). Adjusted diluted EPS: $3.12 (+19.1% y/y). Net income attributable to Quest Diagnostics was $320 million, up 13.4% versus 2025; adjusted net income was $350 million (+17.3%).

Updated full‑year 2026 guidance

Revenue guidance raised to $11.95–$12.05 billion. Reported diluted EPS outlook $9.97–$10.17; adjusted diluted EPS outlook $11.05–$11.25. Cash provided by operations guidance raised to about $1.80 billion; capital expenditures expected at ~ $550 million.

Volume and price/mix trends

Requisition volume increased 13.1% in the quarter (organic requisition volume +13.0%). Revenue per requisition declined 2.8%, reflecting mix and pricing headwinds despite strong volume growth.

Margins and operating results

Reported operating income: $459 million (+4.6% y/y) with operating margin 15.1% (down 0.8 percentage points). Adjusted operating income: $502 million with adjusted margin 16.5% (down 0.4 ppt).

Cash flow, capex and balance sheet

Cash provided by operations in Q2 was $597 million and $875 million for the six months. Capital expenditures were $138 million in Q2 ($252 million YTD). Cash & cash equivalents rose to $626 million; long‑term debt was $5.632 billion as of June 30, 2026.

Operational and product highlights

Company cited progress on Co‑Lab Solutions and a joint venture lab with Corewell Health, collaboration with Fresenius Medical Care on kidney care, growth in consumer and digital channels (questhealth.com, wearables/partners), double‑digit growth in Advanced Diagnostics (including Quest AD‑Detect® and liver fibrosis tests), New York approval for Haystack MRD® and pilot integration with Flatiron Health, plus lab automation and IntelliDraw™ specimen‑collection tooling.

Capital allocation and tax

Repurchased 0.5 million shares for $100 million in Q2; $1.3 billion remained available under the repurchase authorization. The company noted a favorable resolution of tax contingencies in Q2 and expects the 2026 adjusted effective tax rate to be consistent with 2025.