Fourth quarter revenues of $2.81 billion, up 7.1% from 2024
Fourth quarter reported diluted earnings per share ("EPS") of $2.18, up 11.8% from 2024; and adjusted diluted EPS of $2.42, up 8.5% from 2024
Full year revenues of $11.04 billion, up 11.8% from 2024
Full year reported diluted EPS of $8.75, up 13.8% from 2024; and adjusted diluted EPS of $9.85, up 10.3% from 2024
Full year cash from operations of $1.89 billion
Full year 2026 revenues expected to be between $11.70 billion and $11.82 billion
Full year 2026 reported diluted EPS expected to be between $9.45 and $9.65; and adjusted diluted EPS expected to be between $10.50 and $10.70
SECAUCUS, N.J., Feb. 10, 2026 /PRNewswire/ -- Quest Diagnostics Incorporated (NYSE: DGX), a leading provider of diagnostic information services, announced today financial results for the fourth quarter and full year ended December 31, 2025.
"We closed 2025 with a strong fourth quarter, and delivered double-digit growth in revenues and earnings per share for the full year," said Jim Davis, Chairman, CEO, and President. "Our robust performance demonstrates continued execution of our strategy to deliver category-defining clinical innovations that fulfill customers' needs and to form strategic collaborations supporting growth. Our 2026 guidance reflects our continued confidence in our business strengths and market fundamentals."
Key 2025 Highlights:
Serving Clinicians and Health Systems
Began to deploy our largest Co-Lab Solutions implementation to date for Corewell Health, a leading health system in Michigan. Also finalized a laboratory-services joint venture with Corewell Health that includes plans to open a state-of-the-art laboratory in southeast Michigan in 2027.
Scaled lab testing to deliver services for more than 200,000 patients at Fresenius Medical Care's dialysis centers in the United States while also adding leading water-purity testing capabilities to our menu.
Integrated eight acquisitions completed in 2024, providing the basis for growth in new geographies, including Canada.
Expanded and initiated new collaborations to serve in-network providers and members in new geographies.
Formed a first-of-its-kind collaboration with Epic to be our technology partner for Project Nova, our multi-year order-to-cash transformation to streamline systems and improve customer experiences, regardless of the electronic health record they use, for smarter, simpler testing.
Serving Consumers
Further advanced our position as the premier lab engine powering the wellness industry through questhealth.com, our consumer-initiated test platform, and through new collaborations with top consumer wellness and wearables companies.
Expanded our offerings on questhealth.com to more than 150 tests, including our new Elite Health Panel for assessing health based on over 85 biomarkers.
Delivering Clinical Innovations
Added category-defining innovations to our Advanced Diagnostics portfolio, including a new Quest AD-Detect® blood test for aiding the diagnosis of Alzheimer's disease, long-read gene sequencing to identify the cause of ataxia movement disorders, and HPV self-collection options for cervical cancer screening.
Secured FDA breakthrough device designation for the Haystack MRD® test for monitoring patients treated for solid-tumor cancers.
Formed collaborations with The University of Texas MD Anderson Cancer Center and Rutgers Cancer Institute to research and develop innovations for detecting early signs of cancer.
Supported public health with Oropouche virus testing under a preparedness contract with the U.S. Centers for Disease Control and Prevention.
Driving Operational Excellence
Delivered 3% annual cost savings and productivity improvements through our Invigorate program.
Deployed AI and automation across lab, customer and administrative systems, including automated sample processing, logistics and cytology, improving quality, experiences and productivity.
Engaged Google Cloud to use generative AI to simplify and improve data management and analytics.
Guidance for Full Year 2026
The company estimates its full year 2026 guidance in the table below. The company has included a presentation that includes additional guidance information on the Events and Presentations page of its investor relations website, which can be found at .
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, impairment charges 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 . We suggest participants dial in approximately 10 minutes before the call.
A replay of the call may be accessed online at or, from approximately 10:30 a.m. Eastern Time on February 10, 2026 until midnight Eastern Time on February 24, 2026, by phone at 866-388-5361 for domestic callers and 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.
About Quest Diagnostics
Quest Diagnostics works across healthcare to create a healthier world, one life at a time. We help connect people, from clinicians to consumers, with laboratory insights that illuminate a path to better health. With a focus on delivering smarter, simpler testing, our insights reveal new avenues to identify and treat disease, inspire healthy behaviors and improve healthcare management. Quest Diagnostics serves half the physicians and hospitals in the United States and one in three adult Americans each year, and our nearly 57,000 employees work together to deliver diagnostic insights that inspire actions to transform lives.
Forward Looking Statements
The statements in this press release which are not historical facts may be forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date that they are made and which reflect management's current estimates, projections, expectations or beliefs and which involve risks and uncertainties that could cause actual results and outcomes to be materially different. Risks and uncertainties that may affect the future results of the company include, but are not limited to, uncertain and volatile economic conditions, adverse results from pending or future government investigations, lawsuits or private actions, the competitive environment, the complexity of billing, reimbursement and revenue recognition for clinical laboratory testing, changes in government policies, including related to trade, and regulations, changing relationships with customers, payers, suppliers or strategic partners, acquisitions and other factors discussed in the company's most recently filed Annual Report on Form 10-K and in any of the company's subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, including those discussed in the "Business," "Risk Factors," "Cautionary Factors that May Affect Future Results" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of those reports.
This earnings release, including the attached financial tables, is available online in the Newsroom section at .
ADDITIONAL TABLES FOLLOW
Notes to Financial Tables
SOURCE Quest Diagnostics
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