0001022079-26-000067
SEC filingQuest Diagnostics二季度营收与盈利双位数增长，上调全年指引，核心驱动为有机营收增长。
| 指标 | 本期 | 去年同期 | 同比 |
|---|---|---|---|
| Net revenues | $3,043M | $2,761M | +10.2% |
| Operating income (GAAP) | $459M | $438M | +4.6% |
| Operating margin (GAAP) | 15.1% | 15.9% | -0.8pct |
| Net income attributable to Quest Diagnostics (GAAP) | $320M | $282M | +13.4% |
| Diluted EPS (GAAP) | $2.84 | $2.47 | +15.0% |
| Adjusted operating income | $502M | $466M | +7.8% |
| Adjusted operating margin | 16.5% | 16.9% | -0.4pct |
| Adjusted net income attributable to Quest Diagnostics | $350M | $298M | +17.3% |
| Adjusted diluted EPS | $3.12 | $2.62 | +19.1% |
| Cash provided by operations | $597M | $544M | +9.7% |
| Capital expenditures | $138M | $108M | +27.0% |
| 期间 | 指标 | 指引 | 口径 |
|---|---|---|---|
| FY2026 | Net revenues | $11.95B - $12.05B | 上调（原$11.78B-$11.90B） |
| FY2026 | Reported diluted EPS | $9.97 - $10.17 | 上调（原$9.58-$9.78） |
| FY2026 | Adjusted diluted EPS | $11.05 - $11.25 | 上调（原$10.63-$10.83） |
| FY2026 | Cash provided by operations | Approximately $1.80B | 上调（原约$1.75B） |
| FY2026 | Capital expenditures | Approximately $550M | 维持 |
简评
Quest Diagnostics 二季度营收 $3.04B，同比 +10.2%，其中有机增长贡献 10.0%，显示核心业务动能强劲。增长主要来自医生、医院及消费者渠道，先进诊断领域（AD-Detect® 阿尔茨海默病检测、心脏代谢及内分泌检测）实现双位数增长。报告口径营业利润率同比下滑 0.8pct 至 15.1%，调整后下滑 0.4pct 至 16.5%，主要受成本投入及业务结构影响，但调整后 EPS 增速（+19.1%）显著高于营收增速，反映运营杠杆与费用管控成效。
管理层基于二季度强劲表现及持续需求，再次上调全年营收与 EPS 指引，并预计全年调整后有效税率与 2025 年持平（受益于二季度税务或有事项的有利解决）。资本返还方面，二季度回购 0.5 百万股耗资 $100M，授权余额 $1.3B。CEO Jim Davis 强调增长几乎全部来自有机增长，并重申战略执行带来的信心。主要关注点包括营业利润率改善的持续性，以及先进诊断等高增长领域的放量节奏。