Quest Diagnostics Raises 2026 Reported EPS Forecast to $10.21-$10.31

Quest Diagnostics raised its 2026 reported diluted earnings per share forecast to $10.21-$10.31 and its cash-from-operations outlook to about $1.90 billion. The higher estimates followed third-quarter results that included $2.78 in reported diluted EPS, up 28.7% from a year earlier.

The new full-year reported EPS range replaces a forecast of $9.97-$10.17. Quest also expects about $1.90 billion in cash provided by operations, compared with its previous estimate of about $1.80 billion. Its capital expenditure forecast remains about $550 million.

For the quarter ended Sept. 30, net revenue rose 10% year over year to $3.097 billion. Adjusted diluted EPS was $3, up 15.4% from $2.60 a year earlier. Quest’s earlier revenue and adjusted earnings update covered the changes to those two forecasts.

Diagnostic Information Services revenue increased 10.2% to $3.035 billion. Test-order volume rose 14.5%, while organic volume rose 14.4% and average revenue per order fell 4.2%.

Quest uses “reported” for its generally accepted accounting principles (GAAP) results and “adjusted” for non-GAAP measures. The adjusted calculation excludes items such as restructuring and integration charges, amortization, excess tax benefits and certain investment-related items. For the third quarter, reported diluted EPS was $2.78, compared with $2.16 a year earlier.

Quest also raised its 2026 revenue forecast to $12.065 billion-$12.105 billion from $11.95 billion-$12.05 billion. Its adjusted diluted EPS outlook increased to $11.25-$11.35 from $11.05-$11.25. The company issued the updated forecasts on Oct. 22 alongside its third-quarter results.