Quest Diagnostics 10-Q Details Q3 EPS of $2.78, $797M Cash and New Lab-Asset Deal
DGX sits 41% above its 52-week low of $171.175.
Summary
Quest's Q3 10-Q backs up the October 22 earnings release with full statements: $3.10 billion revenue, $2.78 diluted EPS, cash up to $797 million, and a newly disclosed deal to buy outreach lab assets in the Northeast.
Key Events · Earnings and Guidance · DGX
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Q3 Revenue Up 10% to $3.10B
Net revenues were $3,097 million versus $2,816 million a year earlier, with DIS revenues up 10.2% on 14.5% volume growth; revenue per requisition fell 4.2% on routine-test mix from Corewell Health and Fresenius.
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Diluted EPS $2.78, Up 28.7%
Net income attributable to Quest was $312 million versus $245 million; nine-month diluted EPS was $7.86 versus $6.57.
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Cash Nearly Doubles to $797M
Cash and equivalents rose from $420 million at December 31, 2025 to $797 million; nine-month operating cash flow was $1,486 million versus $1,421 million, and capital expenditures were $418 million.
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New Northeast Lab-Asset Acquisition
Quest signed a definitive agreement to acquire select outreach lab assets from a leading health system and long-time Co-Lab Solutions customer in the Northeastern U.S., expected to close later in 2026 subject to customary conditions.
Analysis · DGX · Industrial Applications And Services
The headline numbers were already out on October 22, but the full 10-Q is where the balance sheet and cash story live: cash nearly doubled to $797 million from $420 million at year-end, nine-month operating cash flow rose to $1,486 million from $1,421 million, and total debt sits at $5,550 million against $1.3 billion of undrawn credit capacity. It also confirms the Corewell Health Michigan lab joint venture closed in January 2026 (51% owned, $38 million cash plus a 49% stake valued at $253 million) and discloses a new agreement to buy outreach lab assets from a Northeastern health system, expected to close later in 2026. One caution flag: days sales outstanding stretched to 51 days from 47 a year ago on a shift toward client-payer receivables, and accounts receivable rose $308 million in the nine months. The filing also notes the October 21, 2026 unauthorized access to the Quanum ordering system as a risk factor, which was separately disclosed by 8-K on October 22.
How filings like this one have moved
In the 30 days to Oct 23, 2026, 29.2% of the 1549 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.17%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, DGX was trading at $241.89 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $26.7B. The 52-week trading range was $171.18 to $248.84. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.