Quarterly ResultJul 23, 2026, 04:22 PM
Quest Diagnostics Q2 Net Rev $3.04B, EPS $2.84; Corewell JV
AI Summary
Quest Diagnostics reported strong financial results for the second quarter and first half of 2026, with significant increases in net revenues, net income, and diluted EPS compared to the prior year. The company also completed a strategic joint venture with Corewell Health to expand laboratory testing in Michigan and managed its debt profile by issuing new senior notes and repaying maturing ones. These actions align with the ongoing Invigorate program aimed at driving savings and productivity.
Key Highlights
- Q2 2026 Net Revenues increased to $3,043M from $2,761M in Q2 2025.
- Q2 2026 Net Income attributable to Quest Diagnostics rose to $320M from $282M in Q2 2025.
- Q2 2026 Diluted EPS was $2.84, up from $2.47 in Q2 2025.
- Net cash provided by operating activities for H1 2026 was $875M, up from $858M in H1 2025.
- Long-term debt, net of current portion, was $5,632M as of June 30, 2026.
- Cash and cash equivalents stood at $626M as of June 30, 2026.
- Formed a new entity with Corewell Health in January 2026 for laboratory testing in Michigan.
- Issued $500M of 5.00% Senior Notes due June 2036 and repaid $500M of 3.45% Senior Notes.
Price Impact
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