Earnings summaries and quarterly performance for QUEST DIAGNOSTICS.
Executive leadership at QUEST DIAGNOSTICS.
James E. Davis
Detailed
Chief Executive Officer and President
CEO
Catherine T. Doherty
Detailed
Executive Vice President, Regional Businesses
Karthik Kuppusamy
Detailed
Senior Vice President, Clinical Solutions
Michael E. Prevoznik
Detailed
Senior Vice President, General Counsel
Sam A. Samad
Detailed
Executive Vice President, Chief Financial Officer
Board of directors at QUEST DIAGNOSTICS.
Denise M. Morrison
Detailed
Director
Gary M. Pfeiffer
Detailed
Director
Luis A. Diaz, Jr., M.D.
Detailed
Director
Robert B. Carter
Detailed
Director
Timothy L. Main
Detailed
Director
Timothy M. Ring
Detailed
Lead Independent Director
Tracey C. Doi
Detailed
Director
Vicky B. Gregg
Detailed
Director
Wright L. Lassiter III
Detailed
Director
Research analysts who have asked questions during QUEST DIAGNOSTICS earnings calls.
David Westenberg
Piper Sandler
6 questions for DGX
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Elizabeth Anderson
Evercore ISI
6 questions for DGX
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Morgan Stanley
6 questions for DGX
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Nephron Research LLC
6 questions for DGX
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UBS
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Citi
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Deutsche Bank
6 questions for DGX
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Michael Cherny
Leerink Partners
5 questions for DGX
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Andrew Brackmann
William Blair & Company, L.L.C.
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Luke Sergott
Barclays
4 questions for DGX
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Michael Ryskin
Bank of America Merrill Lynch
4 questions for DGX
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Jefferies
3 questions for DGX
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Andrew Brackman
William Blair
2 questions for DGX
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Ann Hynes
Mizuho Financial Group
2 questions for DGX
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Eric Caldwell
Baird
2 questions for DGX
Noah Kava
Jefferies
2 questions for DGX
Aaron David Izen
Bank of America
1 question for DGX
Anna Krasinski
Barclays
1 question for DGX
Lisa Gill
JPMorgan Chase & Co.
1 question for DGX
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Meghan Holtz
Jefferies Financial Group Inc.
1 question for DGX
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Michael Cherney
Jefferies Financial Group Inc.
1 question for DGX
Also covers: COR, LH
Stephanie Davis
Barclays
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Recent press releases and 8-K filings for DGX.
Quest Diagnostics discusses utilization, growth, guidance and strategic investments
DGX
Guidance Update
New Projects/Investments
- Quest highlighted sustained elevated test utilization, driven by expanded payer access, chronic disease screening, consumer health engagement, and growth in advanced diagnostics (cardiometabolic, autoimmune, women’s health, brain health, oncology).
- The direct-to-consumer channel (QuestHealth.com) is growing ~35% QoQ YoY, approaching $100 million in revenue; advanced diagnostics now contribute ~$1 billion and grow in the low double digits.
- For FY 2025, Quest expects organic revenue growth of 4.5%–5% (YTD 4.8%) and targets 75–150 bps of operating margin expansion over 2025–2027; Q4 typically sees a 50–100 bps seasonal margin decline vs. Q3.
- Project Nova, a lab IT transformation, carries $250–310 million in one-time costs (40% OpEx, 60% CapEx) over 6–7 years, with ~$20 million spend in 2025 and benefits anticipated from 2027.
- Management is planning for policy headwinds including potential PAMA cuts (~$100 million impact) and expiry of ACA exchange subsidies (~30 bps revenue/volume impact), and sees a >50% chance of a PAMA delay.
5 days ago
Quest Diagnostics outlines FY25 growth drivers and strategic initiatives
DGX
Guidance Update
New Projects/Investments
M&A
- Utilization remains resilient, with tests per requisition up to 4.3–4.4 from pre-COVID 3.8–3.9, driving 4.8% YTD organic revenue growth and full-year guidance of 4.5–5%.
- Direct-to-consumer channel questhealth.com is growing ~35% QoQ Y/Y, approaching $100 M in revenue, and expanding via partnerships (WHOOP, Oura, Hims & Hers) where Quest is the exclusive testing engine.
- Project Nova (lab information system overhaul) entails $250–310 M of one-time costs (40% OpEx, 60% CapEx) over 6–7 years, with <$20 M spent in 2025 and full benefits expected from 2027.
- 75–150 bps operating margin expansion target for 2025–27 is reaffirmed, with an expected 50–100 bps seasonal dip from Q3 to Q4.
- Acquisition and partnership pipeline focuses on physician outreach and lab services (Corewell +$200 M, Fresenius +$100 M), plus strategic tests like Haystack MRD (addressable $5–10 B market), with deals designed for >10% ROIC by year 3 and year-1 EPS accretion.
5 days ago
Quest Diagnostics highlights elevated utilization and strategic investments at Citi Healthcare Conference
DGX
Guidance Update
New Projects/Investments
Product Launch
- Maintained elevated utilization post-COVID with tests per requisition rising to 4.3–4.4 (vs. ~3.8–3.9 pre-COVID), driving organic revenue growth of 4.8% YTD and guided 4.5–5% for FY 25.
- Consumer channel revenue nearing $100 million, up 35% QoQ YoY, and advanced diagnostics tests (~$1 billion revenue) growing low double digits across cardiometabolic, autoimmune, women’s health, brain health and oncology.
- Investing $250–310 million in Project Nova (40% OpEx, 60% CapEx) over six to seven years, with initial FY 25 spend < $20 million and expected productivity benefits from 2027.
- Launched Haystack MRD test with Medicare PLA codes reimbursed at $3,900 baseline and $800 monitoring effective Jan 2026, expanded commercial reps to 35–40, targeting break-even by end-2026.
5 days ago
Quest Diagnostics reports Q3 2025 results and raises full-year guidance
DGX
Earnings
Guidance Update
New Projects/Investments
- Revenues increased 13.1% to $2.82 billion, with 6.8% organic growth; diagnostic services up 13.5%, and requisitions rose 12.5% year-over-year.
- Reported EPS of $2.16 and adjusted EPS of $2.60, with operating income at 13.7% of revenues (adjusted 16.3%); raised full-year revenue guidance to $10.96 billion–$11.0 billion, EPS to $8.58–$8.66, and adjusted EPS to $9.76–$9.84.
- Formed a lab services JV with Corewell Health (projected $1 billion annual COLAB Solutions revenue), launched Project Nova with Epic Systems, and expanded consumer channel partnerships with Whoop and Oura.
- Advanced diagnostics saw strong traction: autoimmune Analyzer growth, Quest AD-Detect volumes more than doubled, Haystack MRD earned FDA Breakthrough Device designation and Medicare reimbursement pending; targeting 3% annual cost savings via Invigorate automation.
Oct 21, 2025, 12:30 PM
Quest Diagnostics posts strong Q3 2025 results and raises guidance
DGX
Earnings
Guidance Update
New Projects/Investments
- Q3 revenue: $2.82 billion, up 13.1% year-over-year, including 6.8% organic growth.
- Adjusted diluted EPS: $2.60 per share, a 13.0% increase versus prior year.
- Expanded partnerships with Corewell Health via a lab services joint venture expected to generate ~$1 billion in annual revenues, and selected Epic for Project Nova to modernize order-to-cash processes.
- Full-year 2025 guidance raised: net revenue now expected at $10.96–11.00 billion and adjusted EPS at $9.76–9.84.
Oct 21, 2025, 12:30 PM
Quest Diagnostics reports Q3 2025 results
DGX
Earnings
Guidance Update
M&A
- Revenues were $2.82 B, up 13.1% year-over-year with 6.8% organic growth in Q3 2025.
- Adjusted operating margin expanded to 16.3% (from 15.5%) and adjusted EPS was $2.60 versus $2.30 a year ago.
- Cash from operations was $1.42 B year-to-date (up 63.1%); full-year 2025 guidance raised to ~$1.8 B with capex of ~$500 M.
- Full-year guidance lifted: revenues of $10.96 B–$11.00 B, reported EPS of $8.58–8.66 and adjusted EPS of $9.76–9.84.
- Growth fueled by clinical innovations, acquisitions (e.g., Fresenius testing assets) and consumer channel expansion via partnerships (WHOOP, Aura) plus a joint venture with CoreWell Health.
Oct 21, 2025, 12:30 PM
Quest Diagnostics reports Q3 2025 financial results
DGX
Earnings
Guidance Update
New Projects/Investments
- Third quarter net revenues of $2.82 billion, up 13.1% year-over-year; reported diluted EPS of $2.16 (+8.5%) and adjusted diluted EPS of $2.60 (+13.0%).
- Year-to-date cash provided by operations of $1.4 billion, up 63.1% from the prior year.
- Raised full-year 2025 guidance: net revenues of $10.96–11.00 billion, reported EPS of $8.58–8.66, and adjusted EPS of $9.76–9.84.
- Entered a lab services joint venture with Corewell Health, targeting $1 billion in annual Co-Lab Solutions revenue next year.
Oct 21, 2025, 10:50 AM
Quest Diagnostics reports Q3 2025 results and raises guidance for full year 2025
DGX
Earnings
Guidance Update
New Projects/Investments
- Third quarter net revenues were $2.816 billion, up 13.1% year-over-year.
- Reported diluted EPS of $2.16, up 8.5%, and adjusted diluted EPS of $2.60, up 13.0%.
- Year-to-date operating cash flow reached $1.421 billion, up 63.1%.
- Raised full-year 2025 guidance to $10.96–$11.00 billion in revenues, $8.58–$8.66 reported EPS and $9.76–$9.84 adjusted EPS.
- Entered a lab services joint venture with Corewell Health in Michigan, aiming for $1 billion in Co-Lab Solutions revenues across 21 hospitals next year.
Oct 21, 2025, 10:45 AM
Quest Diagnostics outlines strategic initiatives and growth drivers at Jefferies 2025 Healthcare Services Conference
DGX
M&A
New Projects/Investments
- Quest emphasized its consumer health expansion into a $2.5 billion market, targeting $250 million in revenue via questhealth.com and partnerships with WHOOP and Function Health, with margins at or above enterprise averages.
- In oncology, Quest partners on early-cancer screening (Guardant Health’s Shield, Grail’s Galleri) and is developing its own colorectal tests (Universal DX), while its Haystack Oncology MRD test secured two PLA codes and is on track for Medicare reimbursement by January 2026 at prices similar to Signatera.
- Its Alzheimer’s blood-based AD Detect LDT portfolio is experiencing high double-digit growth, offering reimbursements over $350 per multi-analyte test, though adoption awaits guideline updates to move directly from positive results to therapy.
- Quest plans 1–2% annual revenue growth from M&A (deploying ~$500 million per year), highlighted by the Canada LifeLabs deal outperforming margins, and is capturing share through hospital-lab acquisitions; structural utilization and mix shifts have lifted tests per requisition to 4.2.
Sep 29, 2025, 8:35 PM
Quest Diagnostics and Rutgers Cancer Institute launch ctDNA MRD lung cancer trial
DGX
New Projects/Investments
- Quest Diagnostics’ Haystack Oncology and Rutgers Cancer Institute are initiating the MRD-PORT phase II trial (NCT06979661) to evaluate the Haystack MRD circulating tumor DNA test for guiding postoperative radiation and systemic therapy decisions in stage II/III NSCLC patients.
- The study will use postoperative ctDNA positivity to personalize adjuvant treatment—including chemotherapy, immunotherapy, targeted therapy, and PORT—based on tumor biology and clinical context.
- This marks the second Rutgers–Haystack collaboration following a 2023 triple-negative breast cancer study; in August 2025, the FDA granted Breakthrough Device Designation to Haystack MRD for stage II colorectal cancer.
- An April 2025 NEJM study showed Haystack MRD detected clinical complete response at a median of 1.4 months versus 6+ months for imaging, and 96% of oncologists believe MRD testing can identify recurrence earlier than current methods.
Sep 22, 2025, 12:07 PM
Quarterly earnings call transcripts for QUEST DIAGNOSTICS.
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