Every material Form 8-K Quest Diagnostics filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Quest Diagnostics reported third-quarter 2024 net revenues of $2.49 billion, up 8.5% from a year earlier, and reported diluted EPS of $1.99, up 1.5%. The company raised its full-year 2024 revenue outlook to $9.80 billion to $9.85 billion, citing recent acquisitions including LifeLabs, while keeping the midpoint of its adjusted EPS outlook unchanged.
Q3 2024 net revenues $2.49 billion, up 8.5%; organic growth 4.2% per CEO Jim Davis
Q3 operating income $330 million, down 3.3% from $342 million; adjusted diluted EPS $2.30, up 3.6%
2024 revenue guidance raised to $9.80 billion–$9.85 billion from $9.50 billion–$9.58 billion
2024 reported diluted EPS guidance narrowed to $7.60–$7.70; adjusted EPS guidance $8.85–$8.95 from $8.80–$9.00
Quest Diagnostics issued $1.85 billion of senior notes in three tranches due 2027, 2029 and 2034, with the offering priced on August 15, 2024 and closing on August 19, 2024. The company said it intends to use the proceeds mainly to fund the purchase price of its previously announced LifeLabs acquisition, which adds debt tied to that deal.
$400 million of 4.600% senior notes due December 15, 2027, $600 million of 4.625% notes due 2029, and $850 million of 5.000% notes due 2034
If the LifeLabs acquisition is not completed by the Termination Date, the 2027 and 2029 notes must be redeemed at 101% of principal plus accrued interest; the 2034 notes remain outstanding
Interest is paid June 15 and December 15 each year, beginning December 15, 2024
Quest Diagnostics reported second-quarter 2024 net revenues of $2.40 billion, up 2.5% from a year earlier, and raised its full-year 2024 revenue and adjusted diluted EPS guidance. Reported diluted EPS fell 1.0% to $2.03, while adjusted diluted EPS rose 2.2% to $2.35, so shareholders see higher sales and adjusted earnings alongside lower reported profit. The updated guidance excludes the pending LifeLabs acquisition.
Q2 2024 net revenues $2.40 billion, up 2.5%; net income attributable to Quest Diagnostics $229 million, down 2.4%
Q2 reported diluted EPS $2.03, down 1.0%; adjusted diluted EPS $2.35, up 2.2%
Full-year 2024 net revenues now expected at $9.50 billion to $9.58 billion, up from $9.40 billion to $9.48 billion
Full-year adjusted diluted EPS now expected at $8.80 to $9.00, up from $8.72 to $8.97; reported diluted EPS range $7.57 to $7.77, high end down from $7.82
Quest Diagnostics signed an agreement on July 2, 2024 to acquire LifeLabs, a Canadian provider of laboratory diagnostic services, from OMERS for about 1.35 billion Canadian dollars (about $985 million U.S.), including net debt. The company expects to fund the deal with cash on hand and debt, and expects it to close by the end of 2024, subject to customer consents and Canadian regulatory approvals.
Purchase price is about CAN $1.35 billion (about USD $985 million), including net debt, subject to customary adjustments.
The company expects the deal to add about CAN $970 million (about USD $710 million) in annual revenue.
Quest expects the deal to be slightly dilutive to GAAP EPS but accretive to adjusted EPS in the first 12 months after closing.
Closing is expected by the end of the year and depends on customer consents and Competition Act and Investment Canada Act conditions.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Quest Diagnostics filing is on SEC EDGAR ↗. 8-K briefs of other companies →