IQVIA Holdings (IQV) came out with quarterly earnings of $2.54 per share, beating the Zacks Consensus Estimate of $2.47 per share. This compares to earnings of $2.45 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.83%. A quarter ago, it was expected that this clinical testing company would post earnings of $2.82 per share when it actually produced earnings of $2.84, delivering a surprise of 0.71%.Over the last four quarters, ...

First-Quarter 2024 Operating Results Revenue for the first quarter of $3,737 million increased 2.3 percent on a reported basis and 2.9 percent at constant currency, compared to the first quarter of 2023. Technology & Analytics Solutions (TAS) revenue of $1,453 million increased 0.6 percent on a reported basis and 1.0 percent at constant currency. Research & Development Solutions (R&DS) revenue of $2,095 million increased 3.4 percent on a reported basis and 3.8 percent at constant currency. Excluding the imp ...

IQVIA Holdings, Inc. (IQV) is scheduled to release its first-quarter 2024 results on May 2, before market open.IQV has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the four trailing quarters, the average surprise being 1.5%.Q1 ExpectationsThe Zacks Consensus Estimate for the top line is currently pegged at $3.7 billion, up 1.1% from the year-ago quarter. The growth in revenues is likely to have been due to an uptick in demand of clients, strategic acquisi ...

Wall Street analysts expect IQVIA Holdings (IQV) to post quarterly earnings of $2.47 per share in its upcoming report, which indicates a year-over-year increase of 0.8%. Revenues are expected to be $3.69 billion, up 1.1% from the year-ago quarter.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Ahead of a company's earnings disclosure, it is cr ...

IQVIA Holdings (IQV) stock has gained 7.5%, outperforming 2.5% and 6.1% growth of the industry it belongs to and the Zacks S&P 500 Composite in the past three months, respectively.IQV has an expected long-term (three to five years) EPS growth rate of 10.2%. The company’s earnings for 2024 and 2025 are anticipated to grow 8.6% and 13% year over year, respectively. Revenues are expected to increase 3.5% in 2024 and 7.9% in 2025.Factors That Auger WellIQVIA’s robust capabilities place it strongly in the life s ...

Financial Performance - The company reported a significant increase in revenue, reaching $X billion, representing a Y% growth compared to the previous year[7]. - User data showed an increase in active users, with a total of Z million users, marking a W% increase year-over-year[7]. - The company provided an optimistic outlook for the next fiscal year, projecting revenue growth of A% to B%[12]. Product Development and Market Expansion - New product launches are expected to contribute an additional $C million in revenue, with anticipated market expansion in D regions[7]. - The company is investing in R&D, allocating $E million towards the development of new technologies and services[7]. - Market expansion efforts include strategic partnerships aimed at increasing market share by F% in the next year[7]. - The company is exploring potential acquisitions to enhance its service offerings and expand its client base[7]. Operational Efficiency and Cost Management - The management highlighted a focus on improving operational efficiency, targeting a G% reduction in costs over the next fiscal year[7]. Risk Management - The company is facing risks related to regulatory changes, which could impact its market position and operational capabilities[13]. - Forward-looking statements indicate that the company is prepared to navigate potential disruptions, including economic fluctuations and geopolitical tensions[14]. Market Research and Data Reliability - The company relies on third-party surveys and market research for healthcare industry data, which may not be independently verified[18]. - IQVIA Market Prognosis provides five-year pharmaceutical market forecasts at national, regional, and global levels[18]. - The company maintains databases and produces market analyses widely referenced in the healthcare industry[18]. - Information from the IQVIA Institute for Human Data Science is publicly available and based on internal research[18]. - Estimates and assumptions regarding market data involve risks and uncertainties that could lead to materially different results[18].

Financial Data and Key Metrics Changes - Fourth quarter revenue was $3.868 billion, growing 3.5% on a reported basis and 2.6% at constant currency, with COVID-related revenues approximately $65 million, down about $125 million compared to Q4 2022 [55][56] - Fourth quarter adjusted EBITDA increased 5%, with adjusted diluted EPS of $2.84, facing headwinds from increased interest expense and UK corporate tax rate [17][29] - For the full year, GAAP net income was $1.358 billion, or $7.29 per diluted share, while adjusted net income was $1.901 billion with adjusted diluted EPS of $10.20 [28][59] Business Line Data and Key Metrics Changes - Technology & Analytics Solutions (TAS) revenue for Q4 was $1.531 billion, up 2.1% reported and 1.3% at constant currency, with constant currency growth of 4% excluding COVID-related work [56][57] - R&D Solutions (R&DS) fourth quarter revenue was $2.151 billion, up 4.5% reported and 3.7% at constant currency, with constant currency growth of 9% excluding COVID-related work [56][27] - Contract Sales and Medical Solutions (CSMS) fourth quarter revenue was $186 million, growing 2.2% reported and 1.7% at constant currency, with full year revenue of $727 million, down 2.2% reported [26][27] Market Data and Key Metrics Changes - EBP funding for 2023 was $70.9 billion, up 17% year-over-year, marking the largest year on record excluding the outlier years of 2020 and 2021 [5][12] - The qualified pipeline grew double-digits year-over-year, with fourth quarter EBP funding at $21.6 billion, the highest in the last two years [12][42] - The FDA approved 55 new molecules in 2023, nearly 50% more than the previous year, indicating a positive trend for the commercial business [45][85] Company Strategy and Development Direction - The company expanded its R&D site network through strategic acquisitions, enhancing clinical research coordination and patient recruitment capabilities [13] - A new synthetic antibody discovery offering was launched, differentiating from traditional animal-derived antibodies used by competitors [6] - The company anticipates demand recovery in the second half of 2024, with revenue growth expected to improve gradually throughout the year [15][71] Management's Comments on Operating Environment and Future Outlook - Management noted improved customer sentiment and a strong pipeline of opportunities, despite elongated decision timelines and difficult negotiations [7][14] - The company expects total revenue for 2024 to be between $15.400 billion and $15.650 billion, including a step-down in COVID-related work and contributions from M&A activity [33][37] - Management expressed confidence in the upcoming recovery, citing a strong RFP flow and a record-high qualified pipeline [116][160] Other Important Information - The company repurchased $229 million of shares in Q4, bringing the full year total to just below $1 billion, with approximately $2.4 billion remaining under the current share repurchase authorization [61] - The company was recognized as one of the world's most admired companies for the seventh consecutive year, ranking first in its industry group [67] Q&A Session Summary Question: What are the early indicators for recovery in the TAS business? - Management indicated that early signs of recovery are expected in the second half of the year, with a cautious outlook based on previous trends [74][77] Question: Can you provide insights on the R&DS revenue cadence for 2024? - Management suggested looking at historical linearity for revenue, indicating no significant drop-off or pickup expected [78][81] Question: How is the competitive landscape evolving? - Management noted disruptions in the CRO space due to acquisitions and spin-offs, but emphasized their competitive advantage established through previous mergers [89][90] Question: What percentage of bookings was FSP in Q4? - Management confirmed that a little over 20% of bookings in the quarter were from FSP, with total EVP accounting for about 25% of bookings for the year [138][139] Question: How is pricing pressure affecting the business? - Management acknowledged increased pressure on pricing from clients, particularly in the context of cost reduction programs [141][155]

Revenue Performance - For Q3 2023, total revenues increased by $174 million, or 4.9%, to $3,736 million compared to Q3 2022, driven by a $126 million increase in Research & Development Solutions[90]. - For the first nine months of 2023, total revenues rose by $445 million, or 4.2%, to $11,116 million compared to the same period in 2022, with a $400 million increase in Research & Development Solutions[91]. - For the three months ended September 30, 2023, consolidated revenues increased to $3,736 million, up 4.9% from $3,562 million in the same period of 2022[105]. - For the nine months ended September 30, 2023, consolidated revenues reached $11,116 million, a 4.2% increase from $10,671 million in the same period of 2022[106]. - Research & Development Solutions' revenues for the third quarter of 2023 were $2,122 million, an increase of $143 million, or 7.2%, compared to $1,979 million in the same period of 2022[119]. - Technology & Analytics Solutions' revenues for the third quarter of 2023 were $1,431 million, an increase of $31 million, or 2.2%, from $1,400 million in the same period of 2022[108]. - Contract Sales & Medical Solutions' revenues for Q3 2023 were $183 million, consistent with Q3 2022, with a constant currency revenue growth of approximately $9 million, or 4.9%[128]. - For the first nine months of 2023, revenues were $541 million, a decrease of $20 million, or 3.6%, compared to the same period in 2022, despite a constant currency revenue growth of approximately $7 million, or 1.2%[128]. Cost and Expenses - Cost of revenues for Q3 2023 was $2,426 million, representing 64.9% of revenues, a slight decrease from 65.2% in Q3 2022[92]. - Selling, general and administrative expenses for Q3 2023 decreased by $15 million to $502 million, or 13.4% of revenues, compared to 14.5% in Q3 2022[94]. - Restructuring costs for Q3 2023 were $30 million, up from $4 million in Q3 2022, as the company continues to streamline operations[98]. - Technology & Analytics Solutions' cost of revenues increased by $31 million, or 3.7%, in the third quarter of 2023 compared to the same period in 2022[111]. - Research & Development Solutions' selling, general and administrative expenses increased by $18 million, or 9.0%, in the third quarter of 2023 compared to the same period in 2022[125]. - Cost of revenues, exclusive of depreciation and amortization, decreased by $1 million, or 0.6%, in Q3 2023 compared to Q3 2022, with a constant currency increase of approximately $1 million, or 0.6%[129]. - Selling, general and administrative expenses decreased by $3 million, or 17.6%, in Q3 2023 compared to Q3 2022, with a constant currency decrease of approximately $2 million, or 11.8%[131]. Financial Position - Cash balance as of September 30, 2023, was $1,224 million, an increase from $1,216 million as of December 31, 2022[135]. - Net cash provided by operating activities decreased by $298 million to $1,402 million in the first nine months of 2023 compared to $1,700 million in the same period in 2022[144]. - Net cash used in investing activities decreased by $138 million to $(1,391) million in the first nine months of 2023 compared to $(1,529) million in the same period in 2022[145]. - As of September 30, 2023, total indebtedness was $13,689 million, excluding $1,745 million of additional available borrowings under the revolving credit facility[139]. - During the nine months ended September 30, 2023, the company repurchased 3.9 million shares for $763 million under the equity repurchase program[138]. Tax and Other Financial Metrics - The effective income tax rate for the third quarter of 2023 was 14.6%, down from 19.4% in the same period of 2022, influenced by a $21 million reversal of uncertain tax positions[103]. - The company expects to reverse the valuation allowance related to foreign tax credits, potentially creating a material discrete tax benefit in the near term[104]. Backlog and Future Expectations - Research & Development Solutions' contracted backlog increased from $27.2 billion as of December 31, 2022, to $28.8 billion as of September 30, 2023, with an expected revenue conversion of approximately $7.4 billion in the next twelve months[118]. - The company anticipates ongoing restructuring actions throughout 2023 and into 2024 to adapt to changing market conditions and integrate acquisitions[98]. - Interest expense for Q3 2023 increased to $181 million from $108 million in Q3 2022, primarily due to higher base rate interest costs[99]. - Depreciation and amortization for Q3 2023 increased by $49 million to $297 million, representing 7.9% of revenues, compared to 7.0% in Q3 2022[96].

IQVIA Holdings, Inc. (NYSE:IQV) Q3 2023 Earnings Conference Call November 1, 2023 9:00 AM ET Company Participants Nicholas Childs - SVP, IR & Treasury Ari Bousbib - Chairman, President & CEO Ronald Bruehlman - EVP & CFO Conference Call Participants Elizabeth Anderson - Evercore ISI Charles Rhyee - TD Cowen Daniel Leonard - UBS Luke Sergott - Barclays Bank Shlomo Rosenbaum - Stifel, Nicolaus & Company David Windley - Jefferies Jailendra Singh - Truist Securities Justin Bowers - Deutsche Bank Operator Ladies ...

Q3 2023 Earnings Call November 1, 2023 Legal IQVIA Template (V2.1.0) 1 IQVIA Template (V2.1.0) 2 This presentation should be viewed in conjunction with IQVIA's Q3 2023 earnings call Safe Harbor Statement for Forward-Looking Statements | --- | --- | --- | |------------------|-------------------|--------------------| | | Guidance | VPY% | | Revenue | $3,769 – $3,804 | 0.8% – 1.7% | | Adj. EBITDA | $957 – $967 | 4.0% – 5.1% | | Adj. Diluted EPS | $2.79 – $2.86 | 0.4% – 2.9% (1) | • ~$300M COVID Revenue step do ...