Quest Diagnostics Q2 FY2026: revenue up 10.2%, adjusted EPS up 19.1%, guidance raised
Quest Diagnostics beat on the bottom line after adjustments and raised full-year guidance, and the story now rests on volume: test requisitions grew 13.1% while revenue per requisition fell 2.8%. Adjusted EPS of $3.12 cleared the $2.8535 consensus, while reported EPS of $2.84 was a fraction light. Read the raise as management getting more confident on demand, not on pricing.
1 · Expected vs. Actual
Free preview belowReported diluted EPS was $2.84, up 15.0% from $2.47, and adjusted diluted EPS was $3.12, up 19.1% from $2.62. Measured against the $2.8535 consensus estimate, the reported figure was slightly light while the adjusted figure cleared it. A lower tax bill helped: income tax expense of $88 million on $412 million of pre-tax income is roughly a 21.4% rate, versus about 25.3% a year ago.
Revenue came in at $3.04 billion, up 10.2% from $2.76 billion a year earlier, and the Diagnostic Information Services business supplied $2.98 billion of it. The mix matters: requisition volume rose 13.1% while revenue per requisition fell 2.8%, so growth is being bought with more tests rather than higher prices. That is the trade-off to watch every quarter from here.
Full-year 2026 revenue guidance was lifted to $11.95 billion to $12.05 billion from $11.78 billion to $11.90 billion, a midpoint of $12.00 billion. Reported diluted EPS is now guided to $9.97-$10.17 and adjusted diluted EPS to $11.05-$11.25. Half the year is done with $5.94 billion of revenue, so the midpoint implies a similar or slightly better second half than the first.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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