Quest Diagnostics Reports Third Quarter 2025 Financial Results

Quest Diagnostics, a leading provider of diagnostic information services, has released its financial results for the third quarter of 2025. The company reported significant growth in both revenue and earnings, driven by strong demand for its clinical solutions and strategic initiatives.

Financial Highlights

For the third quarter of 2025, Quest Diagnostics reported revenues of $2.82 billion, marking a 13.1% increase from the same period in 2024. The company's reported diluted earnings per share (EPS) rose to $2.16, an 8.5% increase from the previous year, while adjusted diluted EPS increased by 13.0% to $2.60. Year-to-date cash provided by operations was $1.4 billion, up 63.1% from 2024.

Business and Operational Highlights

The company experienced 6.8% organic growth, driven by the adoption of clinical innovations, acquisitions, and growth in the consumer channel. Notably, Quest Diagnostics entered into an agreement with Corewell Health to establish a lab services joint venture in Michigan, expected to generate approximately $1 billion in annual revenues next year. Additionally, the company completed the acquisition of select dialysis testing assets from Fresenius Medical Care and began scaling clinical lab testing for Fresenius's U.S. dialysis centers.

Strategic Initiatives and Corporate Developments

Quest Diagnostics has formed collaborations with WHOOP and ŌURA Health to integrate its lab services into their mobile apps, catering to the growing consumer interest in wellness and preventive health. The company also announced a collaboration with Epic for Project Nova, aimed at streamlining systems and improving patient and provider experiences. Furthermore, Quest Diagnostics published data on the accuracy of its Alzheimer's disease diagnostic tests and secured FDA breakthrough device designation for its Haystack MRD™ test.

Management's Perspective

Jim Davis, Chairman, CEO, and President of Quest Diagnostics, highlighted the company's robust top- and bottom-line growth, attributing it to strong demand for clinical solutions and strategic execution. He emphasized the company's commitment to innovation and partnerships, which have contributed to its strong performance and optimistic outlook for the future.

Future Outlook

Quest Diagnostics has raised its full-year 2025 guidance, now expecting reported diluted EPS to be between $8.58 and $8.66, and adjusted diluted EPS to be between $9.76 and $9.84. The company also anticipates net revenues to range from $10.96 billion to $11.00 billion, reflecting an 11.0% to 11.4% increase from the previous year. Cash provided by operations is projected to be approximately $1.8 billion, with capital expenditures around $500 million.

Original SEC Filing: QUEST DIAGNOSTICS INC [ DGX ] - 8-K - Oct. 21, 2025