Quest Diagnostics Reports Q3 2026 Results and Raises Full-Year Guidance

Executive Summary

On October 22, 2026, Quest Diagnostics Incorporated (NYSE: DGX) filed a Form 8-K under Item 2.02 announcing its financial results for the third quarter ended September 30, 2026, and increasing its full-year 2026 financial guidance.

Key Financial Highlights

• Q3 2026 Net Revenues: $3.097 billion, up 10.0% compared to $2.816 billion in Q3 2025.
  • Diagnostic Information Services revenues were $3.035 billion, up 10.2% YoY.
  • Total requisition volume increased 14.5% (organic volume up 14.4%), offset by a 4.2% decrease in revenue per requisition.
• Operating Income:
  • Reported operating income was $479 million (15.5% of net revenues), an increase of 24.2% YoY from $386 million (13.7% of revenues).
  • Adjusted operating income reached $517 million (16.7% of net revenues), up 13.0% YoY from $458 million (16.3% of revenues).
• Net Income & Diluted EPS:
  • Reported net income attributable to Quest Diagnostics rose 27.6% YoY to $312 million, or $2.78 per diluted share (up 28.7% YoY from $2.16).
  • Adjusted diluted EPS was $3.00, climbing 15.4% YoY from $2.60.
• Cash Flow: Operating cash flow reached $611 million in Q3 2026 (vs. $563 million in Q3 2025), with capital expenditures of $166 million.

Full-Year 2026 Guidance Update

Quest Diagnostics raised its full-year financial outlook across all key metrics:

• Net Revenues: Increased to $12.065 billion – $12.105 billion (growth of 9.3% – 9.7%), up from prior guidance of $11.95 billion – $12.05 billion.
• Reported Diluted EPS: Increased to $10.21 – $10.31, up from prior guidance of $9.97 – $10.17.
• Adjusted Diluted EPS: Increased to $11.25 – $11.35, up from prior guidance of $11.05 – $11.25.

Strategic Developments

• Announced consumer access via Apple Health to purchase tailored Quest biomarker panels directly on iPhone/iPad devices starting later this year.
• Executed definitive agreement to acquire select outreach lab assets in the Northeastern U.S. and continued rollout of the joint venture with Corewell Health.
• Expanded AD-Detect Alzheimer's blood test menu incorporating Roche Elecsys pTau217.
• Advanced Project Nova (Epic laboratory solutions transition) to the build phase, targeting first lab deployment in fall 2027.