Quest Diagnostics Incorporated reported a significant increase in its financial performance for the fiscal year ending December 31, 2025, with net revenues reaching $11.0 billion, a rise of 11.8% from $9.9 billion in 2024. The company's Diagnostic Information Services (DIS) segment, which constitutes the majority of its operations, generated $10.8 billion in revenues, reflecting a 12.2% increase compared to the previous year. Operating income also saw a notable increase, rising to $1.6 billion from $1.3 billion in 2024, while net income attributable to Quest Diagnostics was $992 million, up from $871 million in the prior year. Diluted earnings per share increased to $8.75, a 13.8% rise from $7.69 in 2024.
The company experienced a 12.3% increase in requisition volume, driven by both organic growth and contributions from recent acquisitions, which accounted for approximately 6.7% of DIS revenues. However, revenue per requisition saw a slight increase of 0.1%, influenced by a favorable test mix and an increase in the number of tests per requisition, although this was partially offset by the acquisition of LifeLabs, which has a lower revenue per requisition. Quest Diagnostics processed approximately 244 million test requisitions in 2025, serving a significant portion of the U.S. adult population.
Strategically, Quest Diagnostics made several key acquisitions, including the purchase of select clinical testing assets from Fresenius Medical Care's Spectra Laboratories for $84 million, which closed in 2025. The company also entered into a joint venture with Corewell Health to perform laboratory testing in Michigan, expected to enhance its operational capabilities in that region. Additionally, the company is engaged in a multi-year program called Invigorate, aimed at driving savings and improving productivity across its operations, with a target of achieving 3% annual cost savings.
Operationally, Quest Diagnostics reported a workforce of nearly 57,000 employees as of December 31, 2025, including approximately 6,800 from LifeLabs, which was acquired in 2024. The company continues to focus on enhancing its digital experience for patients and healthcare providers, with over 45 million registered users on its MyQuest® patient healthcare portal. The company also reported a strong cash flow from operations of $1.9 billion, which provides financial flexibility for future investments and growth opportunities.
Looking ahead, Quest Diagnostics anticipates continued growth in the diagnostic information services industry, driven by evolving healthcare needs and increasing consumer engagement in health management. However, the company also faces challenges, including ongoing inflationary pressures, reimbursement rate changes, and competitive dynamics within the healthcare landscape. The company remains committed to leveraging its extensive data assets and innovative technologies to enhance patient care and operational efficiency.
About QUEST DIAGNOSTICS INC
Quest Diagnostics is a leading provider of diagnostic testing and information services, serving healthcare providers, hospitals, patients, and payers primarily in the U.S. The company offers routine, advanced, and molecular diagnostics, leveraging extensive data assets, innovative technology, and a broad network of laboratories and patient centers. Its core value lies in delivering high-quality, accessible insights to improve health outcomes and support value-based care.
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