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Quest Diagnostics — Jan 12, 2026 release

Fiscal 2025 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000947871-26-000025
Open on SEC.gov ↗
Showing in the filing
CoLab revenues
“~$1B in revenues in 2026 including Corewell Health”
Period
FY2026
Measure
GAAP-tied
Source
Prose
All guidance in this release · 25
Revenue CAGR for FY2025
“4% - 5%”
Total revenues CAGR for FY2025
“4% - 5% CAGR”
Physicians channel growth for the long term
“4% - 5% CAGR”
Hospitals channel growth for the long term
“5% - 6% CAGR”
High-growth areas channel growth for the long term
“>20% CAGR”
Adjusted EPS CAGR for the long term
“7% - 9%”
CoLab revenues for FY2026
“~$1B in revenues in 2026 including Corewell Health”
Advanced diagnostic tests in 5 key clinical …
“double-digit growth”
Advanced diagnostic tests in 5 key clinical … for FY2025
“~$1 billion”
Invigorate productivity and cost savings tar… for FY2025
“3% annual productivity and cost savings target”
M&A targeted financial criteria - EPS accret…
“Accretive to adj EPS in year 1”
M&A targeted financial criteria - ROIC accre…
“Accretive to ROIC (at least 10%) by year 3”
Targeted capital deployment - operating cash… for FY2025
“$4.5B - $5.0B operating cash flow”
Targeted capital deployment - capital expend… for FY2025
“$1.5B - $1.7B capital expenditures (~4.5% of revenue)”
Targeted capital deployment - free cash flow for FY2025
“$3.0B - $3.3B free cash flow”
Targeted capital deployment - acquisitions for FY2025
“~$1.5B acquisitions”
Targeted capital deployment - acquisitions r… for FY2025
“Drives 1% - 2% revenue growth”
Targeted capital deployment - dividends for FY2025
“~$1.0B dividends”
Targeted capital deployment - share repurcha… for FY2025
“~$0.7B share repurchases”
Total revenues
“4% - 5% CAGR”
Total revenues - acquisition contribution for FY2025
“Includes 1% - 2% growth from new acquisitions”
Operating margins for FY2027
“+75 to +150 basis points by the end of 2027”
Adjusted EPS* for the long term
“7% - 9% CAGR”
Free cash flow for FY2025
“Free cash flow growth commensurate with earnings growth”
Adjusted EPS growth plus dividend yield CAGR for FY2025
“high single-digit to low double-digit CAGR”
Exhibit 99.1 · the passage around this item
… earlier in the release
Health Optum Minute clinic duly Healthcare provider and executive needs Scaled, efficient diagnostic testing to alleviate staff burden and gain external expertise Reduced cost in testing capital and infrastructure--and minimized regulatory risks Access to technology, automation, and broader menus of advanced testing Optimized billing, reimbursement, and insurance in-network status for test coverage Ability to focus on quality patient care with faster turnaround time and greater reliability Our strengths enable us to meet each of these needs Scale Board access (PSCs, IOPs) Clinical Innovation Health plan access Value         We help hospitals improve quality, efficiency, and access to capital Reference testing Comprehensive menu across continuum of care for one-stop shop Reduces the need for hospitals to invest in advanced technologies Approximately $1.2B in revenues today Collaborative Lab Solutions (CoLab) Professional lab management and related services based on expertise and scale ~$800M in revenues in 2025 ~$1B in revenues in 2026 including Corewell Health Outreach / JVs Access to capital to invest in core assets Continued access to diagnostic innovation Enhanced affordability         Quest is the lab engine for the growing wellness industry ~$100M direct Quest ~250M annual revenue ~150M partners Function WHOOP Hims&hers OURA Behavioral Change Biometric data from device Biomarker data from lab Provider direction         We expect advanced diagnostic tests in 5 key clinical areas to deliver double-digit growth Advanced Cardiometabolic Health ApoB Lipoprotein(a) Insulin resistance panel with score Autoimmune Disorders ANAlyzeR® primary care screening Therapy guidance (RA, IBD) Brain Health AD-Detect® Alzheimer's disease blood testing New liquid biomarkers Oncology Haystack MRD® IsoPSA® STEP500 liquid and tissue Women's & Reproductive Health QNatal® Advanced (NIPS) QHerit® carrier screening In these 5 areas, advanced diagnostic tests expected to generate ~$1 billion in 2025         We continue to improve quality, productivity, and customer experience 3% annual productivity and cost savings target through Invigorate Onboard Order Collect Transport Test Result Bill Service Peop
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.