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QUEST DIAGNOSTICS INC 8-K Report, Financial Results (Feb 10, 2026)

Reports
Earnings & Results·Other Events·Exhibits & Filings
Filing Date
Filed February 10, 2026
Period End
February 10, 2026
Security
DGX
In the record · 2016–202610-K1110-Q328-K132

DGX filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 132 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · May ’16May ’16
  2. Leadership change8-K · Jun ’20Jun ’20
  3. Leadership change8-K · Jul ’22Jul ’22
  4. Material agreement8-K · Aug ’24Aug ’24

01—Abstract

Summary

Summary of the 8-K filed February 10, 2026. Cited figures are marked; the original filing is the authoritative source.

Quest Diagnostics (DGX) reported strong fourth-quarter and full-year 2025 results and issued 2026 guidance.

Q4 net revenues were $2.81 billiona, up 7.1% year over year, with reported diluted EPS of $2.18 (up 11.8%) and adjusted diluted EPS of $2.42 (up 8.5%). For the full year, net revenues rose 11.8% to $11.04 billion, reported diluted EPS rose 13.8% to $8.75, and adjusted diluted EPS rose 10.3% to $9.85. Full-year operating cash flow reached $1.89 billion, up 41.4%.

Organic requisition volume growth accelerated to 7.9% in Q4 from 3.4% for the full year, though revenue growth also reflects acquisitions completed in 2024. Management also noted a $46 millionb one-time CARES Act payroll tax credit gain in 2025 results, which is excluded from adjusted EPS but boosts reported EPS. For 2026, the company guided to net revenues of $11.70 billion to $11.82 billion (6.0% to 7.1% growth), reported diluted EPS of $9.45 to $9.65, and adjusted diluted EPS of $10.50 to $10.70.

Guidance calls for operating cash flow of about $1.75 billionc, below 2025's $1.89 billion, and capital expenditures of about $550 million. Investors should note that the implied decline in operating cash flow contrasts with the strong 2025 result. Capital return was also expanded.

The Board raised the quarterly dividend 7.5% to $0.86d per share from $0.80, effective with the April 20, 2026 payment (record date April 6, 2026), for an annualized dividend of $3.44. The Board also added $1 billion to the share repurchase authorization, on top of roughly $0.4 billion remaining at year-end 2025. The company marked its 15th consecutive year of dividend increases.

02—Key points

Key Highlights

  1. Q4 2025 net revenues of $2.81 billion, up 7.1%; reported diluted EPS of $2.18 (up 11.8%) and adjusted diluted EPS of $2.42 (up 8.5%).
  2. Full-year 2025 net revenues of $11.04 billion (up 11.8%); reported diluted EPS of $8.75 (up 13.8%); adjusted diluted EPS of $9.85 (up 10.3%).
  3. Full-year 2025 operating cash flow of $1.89 billion, up 41.4% from $1.33 billion in 2024.
  4. 2026 guidance: revenue of $11.70-$11.82 billion, reported diluted EPS of $9.45-$9.65, adjusted diluted EPS of $10.50-$10.70, and operating cash flow of about $1.75 billion.
  5. Quarterly dividend raised 7.5% to $0.86 per share (annualized $3.44), payable April 20, 2026, marking 15 consecutive years of increases.
  6. Share repurchase authorization increased by $1 billion, in addition to about $0.4 billion remaining at December 31, 2025.
  7. 2025 reported earnings include a $46 million one-time CARES Act payroll tax credit gain, excluded from adjusted results; 2025 interest expense rose to $264 million from $201 million.

03—Questions

Frequently Asked Questions

  1. What did Quest Diagnostics report for full-year 2025 results?

    Full-year 2025 net revenues were $11.04 billion, up 11.8%. Reported diluted EPS was $8.75, up 13.8%, and adjusted diluted EPS was $9.85, up 10.3%. Adjusted operating margin was 15.9%, and operating cash flow was $1.89 billion.

  2. What is the company's 2026 outlook?

    Management expects 2026 net revenues of $11.70-$11.82 billion (6.0%-7.1% growth), reported diluted EPS of $9.45-$9.65, and adjusted diluted EPS of $10.50-$10.70. It expects operating cash flow of about $1.75 billion and capital expenditures of about $550 million.

  3. How is the dividend changing?

    The quarterly dividend increases 7.5% from $0.80 to $0.86 per share, or $3.44 annually. The increase applies to the dividend payable April 20, 2026, to shareholders of record on April 6, 2026.

  4. What does the $1 billion buyback increase mean for shareholders?

    The Board added $1 billion to the repurchase authorization, which sits on top of about $0.4 billion remaining at year-end 2025, for total available capacity of roughly $1.4 billion. In 2025 the company repurchased 2.5 million shares for $452 million, so the new authority is significantly larger than recent buying pace. Actual repurchases will depend on future cash generation and capital allocation.

  5. Why does reported EPS differ from adjusted EPS, and what should investors watch?

    Adjusted EPS excludes items such as restructuring and integration charges, amortization of intangibles, contingent consideration fair value changes, impairments, and excess tax benefits from stock compensation. In 2025, reported results included a $46 million one-time payroll tax credit gain, while adjusted results removed it. Investors should weigh the guidance gap between reported and adjusted EPS and note that 2026 operating cash flow guidance is lower than 2025's level.

04—Continue

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