Quest Diagnostics Q3 revenue beats; raises 2026 revenue forecast
Overview
U.S. diagnostic lab's Q3 revenue grew 10% yr/yr, beating analyst expectations
Adjusted EPS for Q3 rose 15.4% yr/yr, beating analyst expectations
Company raised full-year 2026 revenue and EPS guidance
Outlook
Quest Diagnostics raises 2026 revenue guidance to $12.065 bln-$12.105 bln
Company now expects 2026 reported diluted EPS of $10.21-$10.31
Company sees 2026 adjusted diluted EPS between $11.25 and $11.35
Result Drivers
CHANNEL GROWTH - Co said strong performance across physician, hospital and consumer channels drove Q3 results
ORGANIC GROWTH - Co attributed robust organic revenue growth to expanding clinical care needs of aging population and increased focus on prevention and wellness
AUTOMATION AND AI - Productivity gains from automation and AI contributed to Q3 performance, per CEO Jim Davis
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $3.10 bln | $3.05 bln (14 Analysts) |
Q3 Adjusted EPS | Beat | $3 | $2.86 (15 Analysts) |
Q3 EPS | $2.78 | ||
Q3 Net Income | $312 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 9 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the healthcare facilities & services peer group is "buy"
Wall Street's median 12-month price target for Quest Diagnostics Inc is $251.00, about 5.1% above its October 21 closing price of $238.93
The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 19 three months ago
Reuters Recommended Reads
Oct 21 - Thermo Fisher Q3 revenue, adj profit beat estimates after new product launches
Oct 21 - Danaher Q3 adjusted EPS beats, FY guidance raised
Oct 21 - Elevance Health Q3 adjusted EPS beats estimates, raises outlook
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)