Slide 1: Q1 2026 Highlights
Q1 2026 Highlights Q1 2026 Performance “ Our more than 9% revenue growth, almost entirely organic, and approximately 13% adjusted diluted A strong start to the year earnings per share growth reflect our team’s disciplined execution delivering innovative solutions for Introduced AI Companion within m
Slide 2: Supplemental Financial Information Q1 2026
Supplemental Financial Information Q1 2026 April 21, 2026
Slide 3: Safe harbor disclosure
The statements in this presentation that are not historical facts may be forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date that they are made and which reflect management’s current estimates, projections, expe
Slide 4: Note on non-GAAP financial measures
As used in this presentation 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 Note on and integration charges, am
Slide 5: First quarter 2026 financial results
First quarter 2026 financial results Three Months Ended March 31, (dollars in millions, except per share data) 2026 2025 Change 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 requisi
Slide 6: Guidance for full year 2026
Updated Guidance Prior Guidance Low High Low High Guidance for Net revenues $11.78B $11.90B $11.70B $11.82B full year 2026 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
Slide 7: Underlying assumptions for full year 2026
• Revenue growth of approximately 6.8% to 7.8% expected, not including any contribution from prospective M&A Underlying • Operating margin expected to expand assumptions for versus the prior year full year 2026 guidance • Share count and interest expense to be consistent with 2025 • Adjusted effecti
Slide 8: Q1 revenue growth of +9.2%
Q1 revenue growth of +9.2% driven primarily by solid growth in physician, hospital and consumer channels 15.2% 14.5% 13.1% 12.1% 9.2% 8.5% 9.0% 7.1% 6.8% 6.4% Total Net Revenue 4.8% 5.2% Growth 2.5% 4.2% 1.5% 2.4% 1.8% Organic Net 0.8% Revenue Growth Q1 '24 Q2 '24 Q3 '24 Q4 '24 Q1 '25 Q2 '25 Q3 '25
Slide 9: Q1 revenue per req of -1.3%
Q1 revenue per req of -1.3% was impacted as expected by Fresenius Medical Care and Corewell Health mix; Excluding this mix, revenue per req was +~2.5% 16.3% 13.9% 12.4% 12.5% 10.9% 8.5% 10.8% Total net volume growth 7.9% 5.5% Organic net volume growth 3.3% 3.9% 1.6% 1.1% 1.6% Total revenue 0.2% 2.1%
Slide 10: Trended quarterly net revenues by payer customer type
Trended quarterly net revenues by payer customer type 12% 10% 10% 13% 12% 12% 12% Patients 14% 14% 10% 33% 32% 30% 31% 31% Client payers 33% 31% 32% 33% 12% 13% 16% 16% 16% 16% 11% 16% Government payers 16% 3% 3% 3% 3% 3% 2% 3% 3% Health insurers 3% (capitated) 37% 36% 38% 36% 37% 37% Health insurer
Slide 11: 2025 net revenues by customer channel and major service
2025 net revenues of $11.0B by customer channel and major service Customer channel Major service DS revenues Anatomic All other 2% pathology 2% Other DIS testing services 9% 6% Hospital lab services Routine clinical 18% Gene-based testing and Physician and esoteric* other services lab services testi
Slide 12: Data tables
Data tables Quest Diagnostics?
Slide 13: Trended quarterly growth metrics
Trended quarterly growth metrics 2024 2025 2026 Q1 Q2 Q3 Q4 YTD Q1 Q2 Q3 Q4 YTD Q1 Total net revenue growth 1.5% 2.5% 8.5% 14.5% 6.7% 12.1% 15.2% 13.1% 7.1% 11.8% 9.2% Organic net revenue growth 0.8% 1.8% 4.2% 4.8% 2.9% 2.4% 5.2% 6.8% 6.4% 5.3% 9.0% DIS revenue growth 1.7% 2.8% 9.0% 15.1% 7.1% 12.7%
Slide 14: Trended quarterly net revenues by payer customer type
Trended quarterly net revenues by payer customer type 2024 2025 2026 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Healthcare insurers Fee-for-service 37% 36% 38% 36% 37% 35% 37% 37% 36% 36% 33% Capitated 3% 3% 3% 3% 3% 3% 3% 2% 3% 3% 3% Total healthcare insurers 40% 39% 41% 39% 40% 38% 40% 39% 39% 39% 36% Gover
Slide 15: Trended annual net revenues by customer channel
Trended annual net revenues by customer channel 2023 2024 2025 Physician lab services 66% 68% 71% Hospital lab services 21% 20% 18% Other DIS 10% 9% 9% Total DIS revenues 97% 97% 98% DS revenues 3% 3% 2% Total net revenues 100% 100% 100% 15
Slide 16: Trended annual net revenues by major service
Trended annual net revenues by major service 2023 2024 2025 Routine clinical testing and 51% 51% 54% other services COVID-19 testing services 2% 1% 0% Gene-based and esoteric (including advanced diagnostics) 38% 39% 38% testing services Anatomic pathology testing services 6% 6% 6% All other 3% 3% 2%
Slide 17: Computation of Basic and Diluted Earnings per Common Share
Computation of Basic and Diluted Earnings per Common Share 17
Slide 18: Non-GAAP reconciliations
Non-GAAP reconciliations 18
Slide 19: Non-GAAP reconciliations
Non-GAAP reconciliations 19
Slide 20: Non-GAAP reconciliations
Non-GAAP reconciliations 20