Quest Diagnostics Reports 9.2% Revenue Gain to $2.9B in Q1 2026

Quest Diagnostics Inc (NYSE: DGX), a clinical laboratory testing company, reported net revenue of $2.90 billion for the quarter ending March 31, 2026, a 9.2% increase from $2.65 billion in the same period a year earlier. Net income for the quarter reached $252 million, compared to $220 million in the first quarter of 2025. Read more earnings reports.

Operating income for the three months ending March 31, 2026 totaled $399 million, up from $346 million in the year-ago quarter. The company reported cost of revenue of $1.95 billion, compared to $1.79 billion in the prior-year period. Selling, general and administrative expenses rose to $504 million from $476 million.

Diluted earnings per share came in at $2.24 for the quarter, compared to $1.94 in the first quarter of 2025. The company had 112 million weighted average diluted shares outstanding for the current quarter, down from 113 million a year earlier. Basic earnings per share were $2.27, up from $1.97 in the prior-year quarter.

Cash from operations totaled $278 million for the quarter, compared to $314 million in the same period last year. Cash used in investing activities was $152 million, versus $115 million a year earlier. Cash used in financing activities was $152 million for the quarter, a sharp swing from the $561 million used in the prior-year period.

Total assets stood at $16.67 billion as of March 31, 2026, up from $16.23 billion at the end of December 2025. Cash and cash equivalents declined to $393 million from $420 million at year-end 2025. Accounts receivable increased to $1.59 billion from $1.41 billion. Goodwill rose to $9.12 billion from $8.95 billion.

Total stockholders' equity grew to $7.37 billion as of March 31, 2026, compared to $7.17 billion at December 31, 2025. Retained earnings climbed to $10.15 billion from $9.99 billion. The company had 111 million common shares outstanding as of the end of the quarter.