10-Q · April 22, 2026
Quest Diagnostics reported Q1 2026 net revenues of $2,895 million (up $243 million or ~9.2% vs Q1 2025) and diluted EPS of $2.24 (up $0.30 vs $1.94 in Q1 2025). Operating income increased to $399 million from $346…
Earnings analysis · 10-Q
DGX earnings analysis
Filed October 23, 2026 · Our reading of the company's report
The latest report
Quest Diagnostics reported Q3 2026 revenue of $3.097 billion and diluted EPS of $3.00, with revenue up 1.9% sequentially and 9.8% year over year and EPS up 5.6% sequentially and 38.9% year over year. EPS exceeded the…
Read full summary
Quest Diagnostics reported Q3 2026 revenue of $3.097 billion and diluted EPS of $3.00, with revenue up 1.9% sequentially and 9.8% year over year and EPS up 5.6% sequentially and 38.9% year over year. EPS exceeded the $2.87 consensus estimate by $0.13. The supplied filing text does not include current-quarter gross margin, operating margin, free cash flow, segment results, balance-sheet details, or quantitative forward guidance, limiting assessment of underlying operating leverage and liquidity trends.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $3.0
What stood out
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Revenue reached a quarterly record
Third-quarter revenue was $3.097 billion, up approximately $57 million, or 1.9%, from $3.04 billion in Q2 2026 and approximately $277 million, or 9.8%, from $2.82 billion in Q3 2025.
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EPS growth and consensus beat
Diluted EPS was $3.00, versus $2.84 in Q2 2026 and $2.16 in Q3 2025, representing sequential growth of approximately 5.6% and year-over-year growth of approximately 38.9%. EPS exceeded the $2.87 consensus estimate by $0.13.
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Share repurchases resumed
The company repurchased 627,674 shares during Q3 at an average price of $238.98, leaving $1.183 billion available under the repurchase program as of September 30, 2026.
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Substantial capital-return capacity
The board had authorized $14 billion of cumulative share repurchases since the program began in May 2003, including a $1 billion authorization increase in February 2026.
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Controls remained effective
Management concluded that disclosure controls and procedures were effective as of the end of the quarter, and reported no changes in internal control over financial reporting that materially affected, or were reasonably likely to materially affect, controls during Q3 2026.
What to watch
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Insider sale plans create potential supply
Five directors or officers adopted Rule 10b5-1 plans to sell up to an aggregate 259,676 shares, including the CEO's plan covering up to 172,095 shares. Actual shares sold may be lower because the plans include shares subject to vesting and tax withholding.
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No updated risk-factor disclosure
The filing reports no material changes to the risk factors in the 2025 Form 10-K. Accordingly, the supplied 10-Q does not update or quantify the potential impact of the previously disclosed risks.
Management's outlook
The provided 10-Q text contains no quantitative revenue or EPS outlook. No guidance change is disclosed; the filing states that there were no material changes in the risk factors from the 2025 Form 10-K.
Earlier filings 4
10-K · February 26, 2026
Quest Diagnostics reports continued scale and product diversification, with net revenues of $11.0 billion in 2025 and Advanced Diagnostics test offerings generating over $1.0 billion on double‑digit growth. The company…
10-K · February 20, 2025
Quest Diagnostics (10-K for year ended December 31, 2024) presents a strategy focused on growth through an industry-leading test menu, Advanced Diagnostics, data/IT capabilities and disciplined acquisitions while…
10-Q · April 24, 2024
Quest Diagnostics reported Q1 net revenues of $2,366 million, up $35 million (+1.5%) versus $2,331 million a year earlier, while operating income fell to $300 million from $305 million and diluted EPS declined to $1.72…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.