DGX
Quest Diagnostics Incorporated178.66
-5.45-2.96%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A details growth drivers, margins
Q&A unpacked 2026 organic growth from Alzheimer's blood tests, autoimmune diagnostics, CardioIQ panels, questhealth.com's 35% surge to $100M run-rate, and Elevance/Sentara network share gains, while noting early consumer partnership lift from WHOOP/Oura. Margins expand despite Corewell's $250M low-single-digit ramp and $0.25 Nova dilution, boosted by consumer's cash-pay profile and LifeLabs improvement; Haystack dilutes less. Ex-Fresenius/Corewell, Q4 organic volume accelerated to 4.1%. Weather stung January, but recovery expected. Management directly tackled competition via national scale versus fragmented labs. Watch Corewell execution, consumer momentum.
Key Stats
Market Cap
19.98BP/E (TTM)
20.97Basic EPS (TTM)
8.52Dividend Yield
0.02%Recent Filings
8-K
Elects ex-Walgreens CEO to board
Quest Diagnostics elected Timothy Wentworth, ex-CEO of Walgreens Boots Alliance, to its board on March 9, 2026. The board appointed him to the Compensation and Leadership Development and Quality and Compliance Committees. He received a prorated $43,000 RSU grant. His healthcare operations expertise bolsters Quest's channels in health plans, employers, and consumers.
10-K
FY2025 results
Quest Diagnostics posted $11.0 billion in net revenues for FY2025 ended December 31, 2025, with Advanced Diagnostics offerings across five clinical areas generating over $1 billion on double-digit growth. Reference testing from hospitals contributed $1.2 billion while Collaborative Lab Solutions added $800 million, reflecting steady demand amid reimbursement pressures. Acquisitions including Fresenius Medical Care's renal testing assets and a new Michigan joint venture with Corewell Health bolstered capabilities, alongside $8.1 billion returned to shareholders since 2012 via buybacks and a 7.5% dividend hike to $0.86 quarterly in February 2026. Debt stood at $5.7 billion at year-end. PAMA reimbursement cuts threaten quarterly momentum.
8-K
Strong results, dividend hike
Quest Diagnostics reported Q4 revenues of $2.81B, up 7.1%, and full-year 2025 revenues of $11.04B, up 11.8%, with adjusted EPS at $9.85. Board authorized $1B more for stock repurchases atop $0.4B remaining and hiked quarterly dividend 7.5% to $0.86, payable April 20. Strong cash flow fuels returns. 2026 revenues eyed at $11.70B-$11.82B.
8-K
Quest outlines growth strategy
Quest Diagnostics presented at the J.P. Morgan Healthcare Conference on January 12, 2026, outlining strategy for above-market growth in a $90B US lab market. Targets 4%-5% revenue CAGR and 7%-9% adjusted EPS CAGR beyond 2025, fueled by M&A ($1.5B planned), advanced diagnostics (~$1B in 2025), and 3% annual productivity gains. Risks include economic volatility and reimbursement changes.
10-Q
Q3 FY2025 results
Quest Diagnostics posted solid Q3 results, with net revenues climbing 13.1% year-over-year to $2,816 million, fueled by 12.5% requisition volume growth (3.9% organic) and 0.8% revenue per requisition rise, while operating income rose 16.8% to $386 million on gross margins expanding to 33.7% from productivity gains via the Invigorate program. Diluted EPS hit $2.16, up 8.5% year-over-year, aligning with 113 million diluted shares and no anti-dilution flags. Acquisitions like LifeLabs (closed August 2024 for ~$1 billion cash) and Spectra assets (August 2025 for $34 million cash, recognizing $25 million goodwill and $9 million intangibles over 15 years) drove volume, alongside $51 million in YTD acquisitions; free cash flow stood at $1,052 million (derived from $1,421 million operating cash minus $369 million capex). Cash dipped to $432 million, total debt fell to $5,675 million (fair value $5.7 billion), with $1.3 billion credit availability and no covenant issues. Yet regulatory shifts from the OBBBA could trim revenues by up to 50-60 basis points through 2028.
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