Quest Diagnostics — Jul 23, 2026 release

1 Three Months Ended June 30, Six Months Ended June 30, 2026 2025 Change 2026 2025 Change (dollars in millions, except per share data) Reported: Net revenues $ 3,043  $ 2,761  10.2  % $ 5,938  $ 5,413  9.7  % Diagnostic Information Services revenues $ 2,978  $ 2,699  10.3  % $ 5,810  $ 5,288  9.9  % Revenue per requisition (2.8) % (2.1) % Requisition volume 13.1  % 12.0  %   Organic requisition volume 13.0  % 11.9  % Operating income (a) $ 459  $ 438  4.6  % $ 858  $ 784  9.4  % Operating income as a percentage of net revenues (a) 15.1  % 15.9  % (0.8) % 14.4  % 14.5  % (0.1) % Net income attributable to Quest Diagnostics (a) $ 320  $ 282  13.4  % $ 572  $ 502  13.9  % Diluted EPS (a) $ 2.84  $ 2.47  15.0  % $ 5.08  $ 4.41  15.2  % Cash provided by operations $ 597  $ 544  9.7  % $ 875  $ 858  1.9  % Capital expenditures $ 138  $ 108  27.0  % $ 252  $ 225  12.1  % Adjusted (a): Operating income $ 502  $ 466  7.8  % $ 949  $ 872  8.8  % Operating income as a percentage of net revenues 16.5  % 16.9  % (0.4) % 16.0  % 16.1  % (0.1) % Net income attributable to Quest Diagnostics $ 350  $ 298  17.3  % $ 631  $ 549  14.9  % Diluted EPS $ 3.12  $ 2.62  19.1  % $ 5.62  $ 4.83  16.4  % (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 $11.95 billion $12.05 billion $11.78 billion $11.90 billion Net revenues increase 8.3% 9.2% 6.8% 7.8% Reported diluted EPS $9.97 $10.17 $9.58 $9.78 Adjusted diluted EPS $11.05 $11.25 $10.63 $10.83 Cash provided by operations Approximately $1.80 billion Approximately $1.75 billion Capital expenditures   Approximately $550 million Approximately $550 million Based on the favorable resolution of various tax contingencies in the second quarter, the full year adjusted effective tax rate is expected to be consistent with 2025. 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. 2 Non-GAAP adjusted measures are presented because management believes those measures are useful adjuncts to GAAP results. Non-GAAP adjusted measures should not