Quest Diagnostics — Apr 21, 2026 release

1 Three Months Ended March 31, 2026 2025 Change (dollars in millions, except per share data) Reported: Net revenues $ 2,895  $ 2,652  9.2  % Diagnostic Information Services revenues $ 2,832  $ 2,589  9.4  % Revenue per requisition (1.3) % Requisition volume 10.9  %   Organic requisition volume 10.8  % Operating income (a) $ 399  $ 346  15.5  % Operating income as a percentage of net revenues (a) 13.8  % 13.0  % 0.8  % Net income attributable to Quest Diagnostics (a) $ 252  $ 220  14.4  % Diluted EPS (a) $ 2.24  $ 1.94  15.5  % Cash provided by operations $ 278  $ 314  (11.6) % Capital expenditures $ 114  $ 117  (1.8) % Adjusted (a): Operating income $ 447  $ 406  10.0  % Operating income as a percentage of net revenues 15.4  % 15.3  % 0.1  % Net income attributable to Quest Diagnostics $ 281  $ 251  12.1  % Diluted EPS $ 2.50  $ 2.21  13.1  % (a) For further details impacting the year-over-year comparisons related to operating income, operating income as a percentage of net revenues, net income attributable to Quest Diagnostics, and diluted EPS, see note 2 of the financial tables attached below. Updated Guidance for Full Year 2026 The company updates its full year 2026 guidance as follows: Updated Guidance Prior Guidance Low High Low High Net revenues $11.78 billion $11.90 billion $11.70 billion $11.82 billion Net revenues increase 6.8% 7.8% 6.0% 7.1% Reported diluted EPS $9.58 $9.78 $9.45 $9.65 Adjusted diluted EPS $10.63 $10.83 $10.50 $10.70 Cash provided by operations Approximately $1.75 billion Approximately $1.75 billion Capital expenditures   Approximately $550 million Approximately $550 million Note on Non-GAAP Financial Measures As used in this press release the term “reported” refers to measures under accounting principles generally accepted in the United States (“GAAP”). The term “adjusted” refers to non-GAAP operating performance measures that exclude special items such as restructuring and integration charges, amortization expense, excess tax benefits ("ETB") associated with stock-based compensation, gains and losses associated with changes in the carrying value of our strategic investments and other items. Non-GAAP adjusted measures are presented because management believes those measures are useful adjuncts to GAAP results. Non-GAAP adjusted measures should not be considered as an alternative to the corresponding measures determined under GAAP. Management may use these non-GAAP measures to evaluate our performance period over pe