Q3 FY26 · Ended Sep 30, 2026 · View SEC filing
New partnerships drove most of this quarter's volume growth
Corewell Health and Fresenius Medical Care brought routine tests at lower prices, so revenue rose 10.0% while requisitions rose 14.5%.
For investorsWhat Quest's growth depends on once the partner work is in the base
For foundersThe partnership playbook: trading unit price for volume
On its own, testing earns a 17.7% operating margin; corporate costs pull the company figure down to 15.5%.
Lab costs only kept pace with revenue; slower overhead growth and last year's charges falling away did the work.
Collection sites, couriers, labs and billing exist before each requisition, so overhead grew at less than half revenue's pace.
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Business Lens describes Quest Diagnostics from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
