$DGX
QUEST DIAGNOSTICS INC Stock $dgx

$dgx Overview Financials Valuation SEC Filings Company Website

2024 Q3 Form 10-Q Financial Statement

#000102207924000156 Filed on July 24, 2024

Income Statement

Concept	2024 Q3	2024 Q2
Revenue	$2.488B	$2.397B
YoY Change	8.41%	2.52%
Cost Of Revenue	$1.677B	$1.593B
YoY Change	8.83%	3.04%
Gross Profit	$811.0M	$804.0M
YoY Change	7.56%	1.52%
Gross Profit Margin	32.6%	33.54%
Selling, General & Admin	$448.0M	$416.0M
YoY Change	17.89%	1.71%
% of Gross Profit	55.24%	51.74%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$125.0M	$117.0M
YoY Change	12.61%	4.46%
% of Gross Profit	15.41%	14.55%
Operating Expenses	$448.0M	$416.0M
YoY Change	17.89%	-4.81%
Operating Profit	$330.0M	$355.0M
YoY Change	-3.51%	0.0%
Interest Expense	-$49.00M	$47.00M
YoY Change	-219.51%	-227.03%
% of Operating Profit	-14.85%	13.24%
Other Income/Expense, Net	-$34.00M	-$41.00M
YoY Change	-20.93%	-783.33%
Pretax Income	$296.0M	$314.0M
YoY Change	-1.0%	-0.95%
Income Tax	$65.00M	$74.00M
% Of Pretax Income	21.96%	23.57%
Net Earnings	$226.0M	$229.0M
YoY Change	0.44%	-2.14%
Net Earnings / Revenue	9.08%	9.55%
Basic Earnings Per Share	$2.01	$2.05
Diluted Earnings Per Share	$1.99	$2.03
COMMON SHARES
Basic Shares Outstanding	111.3M shares	111.1M shares
Diluted Shares Outstanding	113.0M shares	112.0M shares

Balance Sheet

Concept	2024 Q3	2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$764.0M	$271.0M
YoY Change	434.27%	115.08%
Cash & Equivalents	$764.0M	$271.0M
Short-Term Investments
Other Short-Term Assets	$299.0M	$245.0M
YoY Change	44.44%	30.32%
Inventory	$184.0M	$182.0M
Prepaid Expenses
Receivables	$1.376B	$1.319B
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$2.623B	$2.017B
YoY Change	44.52%	16.39%
LONG-TERM ASSETS
Property, Plant & Equipment	$2.093B	$1.832B
YoY Change	14.37%	-24.45%
Goodwill	$8.605B	$7.885B
YoY Change	11.29%	1.97%
Intangibles	$1.716B	$1.202B
YoY Change	40.77%	-3.61%
Long-Term Investments	$125.0M	$126.0M
YoY Change	-3.85%	-6.67%
Other Assets	$272.0M	$216.0M
YoY Change	82.55%	42.11%
Total Long-Term Assets	$13.47B	$11.86B
YoY Change	15.47%	1.47%
TOTAL ASSETS
Total Short-Term Assets	$2.623B	$2.017B
Total Long-Term Assets	$13.47B	$11.86B
Total Assets	$16.10B	$13.88B
YoY Change	19.38%	3.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$1.313B	$1.247B
YoY Change	13.48%	3.83%
Accrued Expenses	$176.0M	$159.0M
YoY Change	12.1%	1.92%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due	$603.0M	$606.0M
YoY Change	98.36%	16.99%
Total Short-Term Liabilities	$2.092B	$2.012B
YoY Change	29.3%	7.31%
LONG-TERM LIABILITIES
Long-Term Debt	$5.648B	$3.816B
YoY Change	43.13%	1.03%
Other Long-Term Liabilities	$891.0M	$811.0M
YoY Change	1.95%	-42.44%
Total Long-Term Liabilities	$6.539B	$811.0M
YoY Change	648.17%	-84.36%
TOTAL LIABILITIES
Total Short-Term Liabilities	$2.092B	$2.012B
Total Long-Term Liabilities	$6.539B	$811.0M
Total Liabilities	$8.631B	$2.823B
YoY Change	246.35%	-60.66%
SHAREHOLDERS EQUITY
Retained Earnings	$9.222B	$9.080B
YoY Change	5.87%	6.0%
Common Stock	$2.334B	$2.316B
YoY Change	1.3%	1.31%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$4.732B	$4.760B
YoY Change	3.54%	3.77%
Treasury Stock Shares
Shareholders Equity	$6.809B	$6.617B
YoY Change
Total Liabilities & Shareholders Equity	$16.10B	$13.88B
YoY Change	19.38%	3.4%

Cashflow Statement

Concept	2024 Q3	2024 Q2
OPERATING ACTIVITIES
Net Income	$226.0M	$229.0M
YoY Change	0.44%	-2.14%
Depreciation, Depletion And Amortization	$125.0M	$117.0M
YoY Change	12.61%	4.46%
Cash From Operating Activities	$356.0M	$360.0M
YoY Change	71.98%	-18.92%
INVESTING ACTIVITIES
Capital Expenditures	$106.0M	$92.00M
YoY Change	0.95%	-11.54%
Acquisitions	$1.533B	$106.0M
YoY Change	76550.0%	-81.66%
Other Investing Activities	-$1.527B	-$108.0M
YoY Change	76250.0%	-81.31%
Cash From Investing Activities	-$1.633B	-$200.0M
YoY Change	1426.17%	-70.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	1.770B	-363.0M
YoY Change	-2232.53%	-292.06%
NET CHANGE
Cash From Operating Activities	356.0M	360.0M
Cash From Investing Activities	-1.633B	-200.0M
Cash From Financing Activities	1.770B	-363.0M
Net Change In Cash	493.0M	-203.0M
YoY Change	2800.0%	314.29%
FREE CASH FLOW
Cash From Operating Activities	$356.0M	$360.0M
Capital Expenditures	$106.0M	$92.00M
Free Cash Flow	$250.0M	$268.0M
YoY Change	145.1%	-21.18%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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	us-gaap	Interest Income Expense Net InterestIncomeExpenseNet	-72000000	usd
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	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	113000000	usd
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CY2023Q2	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	2000000	usd
CY2023Q2	us-gaap	Dividends Common Stock Cash DividendsCommonStockCash	81000000	usd
CY2023Q2	us-gaap	Minority Interest Decrease From Distributions To Noncontrolling Interest Holders MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders	12000000	usd
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CY2023Q2	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	16000000	usd
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CY2023Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	6287000000	usd
CY2022Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	5930000000	usd
	dgx	Net Income Loss Excluding Redeemable Noncontrolling Interest NetIncomeLossExcludingRedeemableNoncontrollingInterest	463000000	usd
	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	5000000	usd
	us-gaap	Dividends Common Stock Cash DividendsCommonStockCash	161000000	usd
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	us-gaap	Adjustments Related To Tax Withholding For Share Based Compensation AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	28000000	usd
CY2023Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	6287000000	usd
	us-gaap	Nature Of Operations NatureOfOperations	DESCRIPTION OF BUSINESS<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Background</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </span></div> Quest Diagnostics Incorporated and its subsidiaries ("Quest Diagnostics" or the "Company") work across the healthcare ecosystem to create a healthier world, one life at a time. The Company's diagnostic information services ("DIS") business provides diagnostic insights from the results of its laboratory testing to empower people, physicians, and organizations to take action to improve health outcomes. Derived from one of the world's largest databases of de-identifiable clinical lab results, the diagnostic insights reveal new avenues to identify and treat disease, inspire healthy behaviors and improve healthcare management. In the right hands and with the right context, the diagnostic insights can inspire actions that transform lives and create a healthier world. The Company provides services to a broad range of customers within its primary customer channels - physicians (including those associated with accountable care organizations and Federally Qualified Health Centers), hospitals, and patients and consumers. Other customers include health plans, employers, emerging retail healthcare providers, government agencies, pharmaceutical companies and other commercial clinical laboratories. The Company offers broad access to clinical testing through a nationwide network of laboratories, patient service centers, phlebotomists in physician offices, and connectivity resources, including call centers and mobile phlebotomists, nurses and other health and wellness professionals. The Company's large in-house staff of medical and scientific experts, including medical directors, scientific directors, genetic counselors and board-certified geneticists, provide medical and scientific consultation to healthcare providers and patients regarding the Company's tests and test results, and help them best utilize Quest Diagnostics' services to improve outcomes and enhance satisfaction. The Company's Diagnostic Solutions ("DS") group, which represents the balance of the Company's consolidated net revenues, includes the Company's risk assessment services business, which offers solutions for insurers, and the Company's healthcare information technology businesses, which offer solutions for healthcare providers and payers.
	us-gaap	Use Of Estimates UseOfEstimates	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
CY2024Q2	us-gaap	Net Income Loss NetIncomeLoss	229000000	usd
CY2023Q2	us-gaap	Net Income Loss NetIncomeLoss	235000000	usd
	us-gaap	Net Income Loss NetIncomeLoss	423000000	usd
	us-gaap	Net Income Loss NetIncomeLoss	437000000	usd
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CY2024Q2	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	228000000	usd
CY2023Q2	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	234000000	usd
	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	421000000	usd
	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	435000000	usd
CY2024Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	111000000	shares
CY2023Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	112000000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	111000000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	112000000	shares
CY2024Q2	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	1000000	shares
CY2023Q2	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	2000000	shares
	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	1000000	shares
	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	2000000	shares
CY2024Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	112000000	shares
CY2023Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	114000000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	112000000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	114000000	shares
CY2024Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	2.05
CY2023Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	2.08
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	3.79
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	3.88
CY2024Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	2.03
CY2023Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	2.05
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	3.75
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	3.83
CY2024Q2	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	1000000	shares
CY2023Q2	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	0	shares
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	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	0	shares
CY2024Q2	us-gaap	Restructuring Charges RestructuringCharges	8000000	usd
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	us-gaap	Restructuring Charges RestructuringCharges	14000000	usd
	us-gaap	Restructuring Charges RestructuringCharges	16000000	usd
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CY2024Q2	us-gaap	Debt Instrument Fair Value DebtInstrumentFairValue	4300000000	usd
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CY2024Q2	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	29000000	usd
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	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	219000000	usd
CY2024Q2	us-gaap	Interest Expense InterestExpense	47000000	usd
CY2023Q2	us-gaap	Interest Expense InterestExpense	39000000	usd
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CY2024Q2	us-gaap	Interest And Dividend Income Operating InterestAndDividendIncomeOperating	3000000	usd
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CY2024Q2	us-gaap	Interest Income Expense Net InterestIncomeExpenseNet	-44000000	usd
CY2023Q2	us-gaap	Interest Income Expense Net InterestIncomeExpenseNet	-37000000	usd
	us-gaap	Interest Income Expense Net InterestIncomeExpenseNet	-87000000	usd
	us-gaap	Interest Income Expense Net InterestIncomeExpenseNet	-72000000	usd
CY2024Q2	us-gaap	Interest Paid Net InterestPaidNet	61000000	usd
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CY2024Q2	us-gaap	Payments To Acquire Businesses Gross PaymentsToAcquireBusinessesGross	106000000	usd
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Files In Submission

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$DGX
QUEST DIAGNOSTICS INC Stock $dgx

2024 Q3 Form 10-Q Financial Statement

#000102207924000156 Filed on July 24, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$DGX QUEST DIAGNOSTICS INC Stock $dgx

2024 Q3 Form 10-Q Financial Statement

#000102207924000156 Filed on July 24, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$DGX
QUEST DIAGNOSTICS INC Stock $dgx