TORONTO--(BUSINESS WIRE)---- $DGX #Cboe--Digi Power X Inc. has graduated from the venture markets and is now listed under the symbol DGX on Cboe Canada,. ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2025 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number 001-12215 Quest Diagnostics Incorporated 500 Plaza Drive Secaucus, NJ 07094 (973) 520-2700 Delaware 16-1387862 ...

Quest Diagnostics Names Benjamin Beauvalot Senior Vice President, Chief Strategy and M&A Officer [Accessibility Statement] Skip NavigationVeteran M&A and transformation leader from Danaher and Patheon joins the Quest Diagnostics executive teamSECAUCUS, N.J., Feb. 26, 2026 /PRNewswire/ -- Quest Diagnostics (NYSE: DGX), a leading provider of diagnostic information services, today announced that Benjamin Beauvalot, a highly accomplished leader with more than two decades of experience in business strategy and t ...

Company Performance - Quest Diagnostics (DGX) shares have increased by 14.1% over the past month, reaching a new 52-week high of $207.05 [1] - The stock has gained 18.3% since the beginning of the year, outperforming the Zacks Medical sector's 0.9% gain and the Zacks Medical - Outpatient and Home Healthcare industry's 9.7% return [1] Earnings and Valuation - The company has a strong record of positive earnings surprises, beating the Zacks Consensus Estimate in the last four quarters [2] - In the latest earnings report on February 10, 2026, Quest Diagnostics reported EPS of $2.42, exceeding the consensus estimate of $2.35, and beat the revenue estimate by 2.08% [2] - The stock currently trades at 19.7X current fiscal year EPS estimates, which is a premium compared to the peer industry average of 18.9X [6] - On a trailing cash flow basis, the stock trades at 13.5X versus the peer group's average of 18.8X, with a PEG ratio of 2.59 [6] Zacks Rank and Style Scores - Quest Diagnostics holds a Zacks Rank of 2 (Buy) due to favorable earnings estimate revisions from analysts [7] - The company has a Value Score of B, Growth Score of B, and Momentum Score of B, resulting in a combined VGM Score of A [5][8] Industry Comparison - DaVita Inc. (DVA) is a notable peer with a Zacks Rank of 1 (Strong Buy) and a Value Score of A, indicating strong performance in comparison [9] - DaVita Inc. reported earnings that beat consensus estimates by 4.94%, with expected earnings of $14.16 per share on revenue of $14.11 billion for the current fiscal year [10] - Despite the Medical - Outpatient and Home Healthcare industry ranking in the bottom 59% of all industries, there are positive tailwinds for both DGX and DVA [11]

Core Viewpoint - Quest Diagnostics has received a stock upgrade to "Buy" from Jefferies, reflecting confidence in its financial health and growth prospects, with a price target increase from $215 to $220 [1][6] Financial Performance - In Q4 2025, Quest Diagnostics reported revenues of $2.81 billion, a 7.1% increase from the previous year, with diluted EPS rising by 11.8% to $2.18 and adjusted EPS at $2.42 [2] - For the full year 2025, the company achieved revenues of $11.04 billion, an 11.8% increase from 2024, with diluted EPS at $8.75 (up 13.8%) and adjusted EPS at $9.85 (up 10.3%) [3] Future Projections - Quest Diagnostics projects 2026 revenues between $11.70 billion and $11.82 billion, with expected diluted EPS between $9.45 and $9.65, and adjusted EPS ranging from $10.50 to $10.70, supported by strategic focus on clinical innovations [4] Shareholder Returns - The company announced a 7.5% increase in its quarterly dividend to $0.86 per share, marking the 15th consecutive year of dividend increases, and authorized a $1 billion increase in its share repurchase program [5][6]

Jim, thank you for joining me. Uh, you take a look at the results that you delivered this morning. You boosted your adjusted profit and revenue uh, outlook for 2026.Your shares hitting a record high this morning as well. Talk us through the main growth drivers that you see when you take a look over the course of this year. >> Yeah.Uh, first Katie, thanks for having us on this morning. Um, you know, in terms of the growth drivers, um, we really think there's two or three major things going on. one um unfortu ...

Before blood-based biomarkers um came to fruition with respect to Alzheimer's, the really the gold standard were cognitive tests that physicians perform and then they would move that patient directly into imaging, whether that's a PET CT image or an MRI image. And today what we're seeing is there's there's bloodbased biomarkers for amaloid plaque for what we call these tow bundles. And you're actually going to detect Alzheimer's at a much earlier stage than what you would see in imaging.And some of the new ...

Core Insights - Quest Diagnostics Inc. reported fourth-quarter 2025 adjusted earnings per share (EPS) of $2.42, exceeding the Zacks Consensus Estimate by 2.85% and up 8.5% year-over-year [1][2] - The company’s full-year 2025 adjusted EPS was $9.85, reflecting a 10.3% increase from the previous year and surpassing the Zacks Consensus Estimate by 0.5% [2] Revenue Performance - Fourth-quarter revenues increased by 7.1% year-over-year to $2.81 billion, beating the Zacks Consensus Estimate by 2.08% [3][4] - Diagnostic Information Services revenues rose 7.3% year-over-year to $2.74 billion, with requisition volumes up 8.5% [3][7] Margin Analysis - The cost of services for the quarter was $1.90 billion, a 7.5% increase year-over-year, while gross profit was $910 million, up 6.1% [5] - The gross margin decreased by 30 basis points to 32.4%, and the adjusted operating margin contracted by 49 basis points to 14.5% [5][10] Financial Position - At the end of the fourth quarter of 2025, cash and cash equivalents were $420 million, down from $549 million at the end of 2024 [6] - Cumulative net cash from operating activities was $1.89 billion, an increase from $1.33 billion at the end of 2024 [6] 2026 Guidance - For full-year 2026, revenues are projected to be between $11.70 billion and $11.82 billion, indicating a year-over-year growth of 6% to 7.1% [7][8] - Adjusted EPS is expected to be in the range of $10.50 to $10.70, with the Zacks Consensus Estimate at $10.45 [8] Strategic Execution - The company has focused on deploying AI and automation across its systems and has introduced innovations in its Advanced Diagnostics portfolio [10] - Quest Diagnostics achieved 3% annual cost savings and productivity improvements through its Invigorate program [10]

Financial Data and Key Metrics Changes - In Q4 2025, consolidated revenues reached $2.81 billion, reflecting a 7.1% increase year-over-year. Organic revenues grew by 6.4% [15] - Reported operating income was $386 million, maintaining a margin of 13.8%, while adjusted operating income was $429 million, or 15.3% of revenues, compared to 15.6% the previous year [16] - Reported EPS was $2.18, and adjusted EPS was $2.42, up from $1.95 and $2.23 respectively in the prior year [16] Business Line Data and Key Metrics Changes - Diagnostic information services revenues increased by 7.3%, driven by organic growth across physician, hospital, and consumer channels [15] - In the physician channel, organic revenue growth was high single digits, while hospital channel revenues grew low single digits [9] - The consumer channel generated nearly $250 million in revenues for the full year, with growth exceeding 20% [11] Market Data and Key Metrics Changes - Total volume measured by requisitions increased by 8.5%, with organic volume up 7.9% [15] - Excluding significant volume growth from Corewell Health and Fresenius Medical Care, organic volume growth was 4.1% [15] - The company expects to generate approximately $1 billion in annual revenues from co-lab solutions in 2026 [10] Company Strategy and Development Direction - The company aims to expand its clinical innovations and strategic collaborations to enhance its position in the wellness industry [5] - Focus areas include advanced diagnostics in cardiometabolic, autoimmune, brain health, oncology, and women's health [12] - The company is pursuing acquisitions and partnerships to enhance its service offerings and market reach [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in business strengths and market fundamentals, citing favorable demographic trends and increasing demand for blood-based diagnostics [5] - The delay in PAMA implementation until the end of 2026 was viewed as a positive development, providing short-term relief [6] - The company anticipates continued organic growth driven by innovations and strategic partnerships [21] Other Important Information - The company achieved a significant increase in cash from operations, totaling $1.89 billion for the full year, compared to $1.33 billion in the prior year [17] - Capital expenditures for 2026 are expected to be approximately $550 million [17] Q&A Session Summary Question: What are the underlying growth drivers for 2026? - Management highlighted strong organic growth in Alzheimer's testing, autoimmune testing, and partnerships with wellness companies as key drivers [24][26] Question: How is the company addressing the impact of severe weather on Q1? - Management noted strong growth in early January but acknowledged the impact of severe storms, expressing confidence in recovery throughout the quarter [27][29] Question: Can you discuss the moving pieces on margins for 2026? - Management indicated that operating margins are expected to increase, despite the impact of lower-margin co-lab business from Corewell [37][39] Question: What is the competitive landscape like for the company? - Management emphasized share gains in organic growth and the strength of their national coverage as competitive advantages [45][46] Question: How is the company planning to monetize its data? - Management discussed the growth of the data business, highlighting its value to pharmaceutical companies and payers [90]

Financial Data and Key Metrics Changes - In Q4 2025, consolidated revenues reached $2.81 billion, reflecting a 7.1% increase year-over-year, with organic revenues growing by 6.4% [15][16] - Reported operating income was $386 million, maintaining a margin of 13.8%, while adjusted operating income was $429 million, or 15.3% of revenues, compared to 15.6% the previous year [16] - Reported EPS was $2.18, and adjusted EPS was $2.42, up from $1.95 and $2.23 respectively in the prior year [16] Business Line Data and Key Metrics Changes - In the physician channel, organic revenue growth was high single digits, driven by demand for advanced diagnostics and geographic expansion [9] - Hospital channel revenues grew low single digits, with collaborative lab solutions contributing to growth [9] - The consumer channel generated nearly $250 million in revenues for the full year, exceeding the expected growth rate of over 20% [11] Market Data and Key Metrics Changes - Total volume measured by requisitions increased by 8.5% year-over-year, with organic volume up 7.9% [15] - Excluding significant relationships with Corewell Health and Fresenius Medical Care, organic volume growth was 4.1% [15] - The company expects to generate approximately $1 billion in annual revenues from co-lab solutions in 2026 [10] Company Strategy and Development Direction - The company aims to expand its clinical innovations and strategic collaborations to enhance its position in the wellness industry [5] - Focus on delivering solutions for core clinical customers while also targeting growth in consumer, life sciences, and data analytics [8] - The company is pursuing potential acquisitions and partnerships to enhance its service offerings and market reach [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in business strengths and market fundamentals, citing favorable demographic trends and increasing demand for blood-based diagnostics [5] - The delay in PAMA implementation until the end of 2026 was viewed as a positive development, providing short-term relief [6][7] - Management anticipates continued strong organic growth driven by advancements in testing and strategic partnerships [24] Other Important Information - The company achieved its target of 3% annual cost savings and productivity improvements in 2025 through operational excellence initiatives [14] - Cash from operations for the full year was $1.89 billion, significantly up from $1.33 billion in the prior year [17] - The company expects capital expenditures of approximately $550 million in 2026 [18] Q&A Session Summary Question: What are the underlying growth drivers for 2026? - Management highlighted strong organic growth in Alzheimer's testing, autoimmune testing, and partnerships with wellness companies as key drivers [24][26] Question: How is the company addressing the impact of severe weather on operations? - Management noted strong growth in early January but acknowledged that severe weather affected operations later in the month, with confidence in recovery [27][29] Question: Can you discuss the moving pieces on margins for 2026? - Management indicated that operating margins are expected to increase, despite the impact of low-margin co-lab business and Project Nova expenses [37][39] Question: What is the competitive landscape like for the company? - Management emphasized share gains in organic growth and the strength of national coverage as competitive advantages [45][46] Question: How is the company planning to monetize its data? - Management discussed the growth of the data business, targeting pharmaceutical companies and payers as key customers [90]