Quest Diagnostics said net revenues for 2024 increased 6.7% compared to the prior year, and DIS revenues increased 7.1%. DIS volume increased 5.5% and revenue per requisition increased 1.3%, the company said, adding that recent acquisitions contributed approximately 3.9% to DIS revenues.

1. 01

   Quest Diagnostics said net revenues for 2024 increased 6.7% compared to the prior year, and DIS revenues increased 7.1%. DIS volume increased 5.5% and revenue per requisition increased 1.3%, the company said, adding that recent acquisitions contributed approximately 3.9% to DIS revenues.

2. 02

   The company said it acquired Lenco for $111 million, PathAI Diagnostics for $100 million, Allina for $230 million, the laboratory business of 3 physician groups in New York for $300 million, OhioHealth for $200 million, and University Hospitals for $183 million, all in all-cash transactions in 2024. It acquired LifeLabs on August 23 for approximately CAN $1.35 billion (approximately $1 billion).

3. 03

   Quest Diagnostics completed a senior notes offering of $1.85 billion in August 2024 and used a portion of the net proceeds to fund the purchase price and related transaction costs of the LifeLabs acquisition. Net cash provided by operating activities for 2024 was $1,334 million, net cash used in investing activities was $2,548 million, and net cash provided by financing activities was $1,084 million.

4. 04

   Results for 2024 were affected by certain items that on a net basis decreased diluted earnings per share by $1.24, the company said. These included pre-tax amortization expense of $127 million, or $0.84 per diluted share, and pre-tax net charges of $62 million, or $0.42 per diluted share, primarily associated with workforce reductions and integration costs incurred in connection with restructuring and integrating the business.

Key figures

Fiscal year ended December 31, 2024

Revenue

$9.9B

Operating income

$1.3B

Net income

$871M

EPS

$7.69

Operating cash flow

$1.3B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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