IQVIA Reports Second-Quarter 2024 Results
IQVIA Holdings Inc. (NYSE:IQV) reported strong financial results for Q2 2024. Revenue increased 2.3% to $3,814 million, with a 3.5% growth at constant currency. GAAP Net Income reached $363 million, while Adjusted EBITDA was $887 million. The company's GAAP Diluted EPS was $1.97, and Adjusted Diluted EPS grew 8.6% to $2.64.
R&D Solutions showed robust performance with quarterly bookings of $2.7 billion and a book-to-bill ratio of 1.27x. The R&D Solutions contracted backlog grew 7.7% year-over-year to $30.6 billion. IQVIA updated its full-year 2024 guidance, projecting revenue between $15,425 million and $15,525 million, Adjusted EBITDA between $3,705 million and $3,765 million, and Adjusted Diluted EPS between $11.10 and $11.30.
IQVIA Holdings Inc. (NYSE:IQV) ha riportato risultati finanziari solidi per il secondo trimestre del 2024. Il fatturato è aumentato del 2,3% raggiungendo 3.814 milioni di dollari, con una crescita del 3,5% a cambi costanti. Il reddito netto GAAP ha raggiunto 363 milioni di dollari, mentre l'EBITDA rettificato è stato di 887 milioni di dollari. Il guadagno per azione diluito GAAP è stato di 1,97 dollari, e l'EPS diluito rettificato è cresciuto dell'8,6% raggiungendo 2,64 dollari.
Le Soluzioni R&D hanno mostrato una performance robusta con ordini trimestrali di 2,7 miliardi di dollari e un rapporto book-to-bill di 1,27x. L'arretrato contrattuale delle Soluzioni R&D è cresciuto del 7,7% rispetto all'anno precedente, arrivando a 30,6 miliardi di dollari. IQVIA ha aggiornato la sua previsione per l'intero anno 2024, stimando un fatturato tra 15.425 milioni e 15.525 milioni di dollari, un EBITDA rettificato tra 3.705 milioni e 3.765 milioni di dollari e un EPS diluito rettificato compreso tra 11,10 e 11,30 dollari.
IQVIA Holdings Inc. (NYSE:IQV) reportó resultados financieros sólidos para el segundo trimestre de 2024. Los ingresos aumentaron un 2,3% alcanzando 3.814 millones de dólares, con un crecimiento del 3,5% a moneda constante. El ingreso neto GAAP alcanzó los 363 millones de dólares, mientras que el EBITDA ajustado fue de 887 millones de dólares. El EPS diluido GAAP fue de 1,97 dólares, y el EPS diluido ajustado creció un 8,6% hasta 2,64 dólares.
Las Soluciones de I+D mostraron un rendimiento robusto con reservas trimestrales de 2,7 mil millones de dólares y una relación book-to-bill de 1,27x. La cartera contratada de Soluciones de I+D creció un 7,7% interanual alcanzando los 30,6 mil millones de dólares. IQVIA actualizó su guía para todo el año 2024, proyectando ingresos entre 15.425 millones y 15.525 millones de dólares, EBITDA ajustado entre 3.705 millones y 3.765 millones de dólares, y EPS diluido ajustado entre 11,10 y 11,30 dólares.
IQVIA Holdings Inc. (NYSE:IQV)는 2024년 2분기 강력한 재무 결과를 보고했습니다. 매출은 2.3% 증가하여 38억 1,400만 달러에 달했습니다, 고정 환율 기준으로는 3.5% 성장했습니다. GAAP 순이익은 3억 6,300만 달러에 달했으며, 조정된 EBITDA는 8억 8,700만 달러였습니다. GAAP 희석 주당순이익은 1.97달러였고, 조정된 희석 주당순이익은 8.6% 증가하여 2.64달러에 이르렀습니다.
R&D 솔루션은 분기 예약 주문 27억 달러 및 청구 대비 예약 비율 1.27배를 기록하며 탄탄한 성과를 보였습니다. R&D 솔루션의 계약 잔고는 전년 대비 7.7% 증가하여 306억 달러에 달했습니다. IQVIA는 2024년 전체 연도 가이던스를 업데이트하며, 매출을 154억 2,500만 달러에서 155억 2,500만 달러 사이, 조정된 EBITDA를 37억 5백만 달러에서 37억 6,500만 달러 사이, 조정된 희석 주당순이익을 11.10달러에서 11.30달러 사이로 전망했습니다.
IQVIA Holdings Inc. (NYSE:IQV) a annoncé de solides résultats financiers pour le deuxième trimestre de 2024. Le chiffre d'affaires a augmenté de 2,3% pour atteindre 3 814 millions de dollars, avec une croissance de 3,5% à devises constantes. Le bénéfice net selon les normes GAAP a atteint 363 millions de dollars, tandis que l'EBITDA ajusté était de 887 millions de dollars. Le bénéfice par action dilué selon les normes GAAP était de 1,97 dollar, et le bénéfice par action dilué ajusté a augmenté de 8,6% pour atteindre 2,64 dollars.
Les Solutions R&D ont montré des performances robustes avec des commandes trimestrielles de 2,7 milliards de dollars et un ratio commande au chiffre d'affaires de 1,27x. Le carnet de commandes contracté des Solutions R&D a augmenté de 7,7% d'une année sur l'autre pour atteindre 30,6 milliards de dollars. IQVIA a mis à jour ses prévisions pour l'année 2024, anticipant un chiffre d'affaires compris entre 15 425 millions et 15 525 millions de dollars, un EBITDA ajusté entre 3 705 millions et 3 765 millions de dollars, et un bénéfice par action dilué ajusté compris entre 11,10 et 11,30 dollars.
IQVIA Holdings Inc. (NYSE:IQV) hat starke Finanzergebnisse für das zweite Quartal 2024 gemeldet. Der Umsatz stieg um 2,3% auf 3,814 Millionen Dollar, mit einem Wachstum von 3,5% zu konstanten Wechselkursen. Der GAAP-Nettoertrag erreichte 363 Millionen Dollar, während das bereinigte EBITDA 887 Millionen Dollar betrug. Der GAAP-diluted Earnings per Share (EPS) lag bei 1,97 Dollar, und der bereinigte EPS stieg um 8,6% auf 2,64 Dollar.
Die R&D-Lösungen zeigten eine robuste Leistung mit Vereinbarungen in Höhe von 2,7 Milliarden Dollar und einem Quote von Buchungen zu Rechnungsstellungen von 1,27x. Der Auftragsbestand der R&D-Lösungen wuchs im Jahresvergleich um 7,7% auf 30,6 Milliarden Dollar. IQVIA aktualisierte seine Prognose für das Gesamtjahr 2024 und erwartet einen Umsatz zwischen 15,425 Millionen Dollar und 15,525 Millionen Dollar, ein bereinigtes EBITDA zwischen 3,705 Millionen Dollar und 3,765 Millionen Dollar sowie einen bereinigten dilutierten EPS zwischen 11,10 Dollar und 11,30 Dollar.
- Revenue increased 2.3% to $3,814 million, with 3.5% growth at constant currency
- GAAP Net Income reached $363 million
- Adjusted Diluted EPS grew 8.6% to $2.64
- R&D Solutions quarterly bookings of $2.7 billion, with a book-to-bill ratio of 1.27x
- R&D Solutions contracted backlog grew 7.7% year-over-year to $30.6 billion
- Technology & Analytics Solutions revenue increased 2.7% to $1,495 million
- Contract Sales & Medical Solutions revenue decreased 2.3% on a reported basis
The recent financial report from IQVIA shows a positive overall performance for the company. Revenue for the second quarter was
The update to the full-year 2024 guidance with revenue projected between
From a retail investor perspective, IQVIA's consistent revenue growth, strong profit margins and robust earnings per share growth signal the company's sound business strategy and operational excellence, making the stock an attractive long-term investment.
IQVIA's R&D Solutions saw significant traction with quarterly bookings of
The R&D backlog of
For investors, these metrics demonstrate IQVIA's ability to secure and sustain long-term contracts, providing revenue visibility and stability, which is highly valued in the volatile tech market.
The reported growth in Technology & Analytics Solutions (TAS) revenue, up
However, it's notable that the Contract Sales & Medical Solutions (CSMS) saw a slight decline of
For investors, the growth in TAS is promising as it aligns with broader industry trends towards digital and data-centric approaches. The potential for scalability and recurring revenue streams from tech solutions makes this segment particularly attractive for future growth prospects.
-
Revenue of
$3,814 million -
GAAP Net Income of
, Adjusted EBITDA of$363 million $887 million -
GAAP Diluted Earnings per Share of
, Adjusted Diluted Earnings per Share of$1.97 $2.64 -
R&D Solutions quarterly bookings of
, representing a book-to-bill ratio of 1.27x$2.7 billion -
R&D Solutions contracted backlog of
, up 7.7 percent reported and 8.1 percent at constant currency year-over-year$30.6 billion -
Full-year 2024 guidance updated for revenue to be between
and$15,425 million , Adjusted EBITDA between$15,525 million and$3,705 million , and Adjusted Diluted Earnings per Share between$3,765 million and$11.10 $11.30
Second-Quarter 2024 Operating Results
Revenue for the second quarter of
As of June 30, 2024, R&DS contracted backlog, including reimbursed expenses, was
“IQVIA delivered second quarter results at the high-end of our guidance, driven mainly by better-than-expected TAS performance," stated Ari Bousbib, chairman and CEO of IQVIA. "The team is focused on strong operational execution. In the quarter, profit margin expanded, free cash flow was strong, and Adjusted Diluted EPS grew 8.6 percent. The R&DS segment continued to perform well and again delivered strong bookings, reflecting demand for IQVIA’s highly differentiated solutions. Forward-looking indicators, such as RFP flow and qualified pipeline, remain healthy. TAS performance in the quarter provides a smoother path to our full-year total company and segment targets."
Second-quarter GAAP Net Income was
First-Half 2024 Operating Results
Revenue for the first six months of 2024 was
GAAP Net Income was
Financial Position
As of June 30, 2024, cash and cash equivalents were
Full-Year 2024 Guidance
The company updated its full-year 2024 guidance for revenue to be between
All financial guidance assumes foreign currency exchange rates as of July 18, 2024 remain in effect for the forecast period.
Webcast & Conference Call Details
IQVIA will host a conference call at 9:00 a.m. Eastern Time today to discuss its second-quarter 2024 results and its third-quarter and full-year 2024 guidance. To listen to the event and view the presentation slides via webcast, join from the IQVIA Investor Relations website at http://ir.iqvia.com. To participate in the conference call, interested parties must register in advance by clicking on this link. Following registration, participants will receive a confirmation email containing details on how to join the conference call, including the dial-in and a unique passcode and registrant ID. At the time of the live event, registered participants connect to the call using the information provided in the confirmation email and will be placed directly into the call.
About IQVIA
IQVIA (NYSE:IQV) is a leading global provider of advanced analytics, technology solutions, and clinical research services to the life sciences industry. IQVIA creates intelligent connections across all aspects of healthcare through its analytics, transformative technology, big data resources, extensive domain expertise and network of partners. IQVIA Connected Intelligence™ delivers actionable insights and powerful solutions with speed and agility — enabling customers to accelerate the clinical development and commercialization of innovative medical treatments that improve healthcare outcomes for patients. With approximately 88,000 employees, IQVIA conducts operations in more than 100 countries.
IQVIA is a global leader in protecting individual patient privacy. The company uses a wide variety of privacy-enhancing technologies and safeguards to protect individual privacy while generating and analyzing information on a scale that helps healthcare stakeholders identify disease patterns and correlate with the precise treatment path and therapy needed for better outcomes. IQVIA’s insights and execution capabilities help biotech, medical device and pharmaceutical companies, medical researchers, government agencies, payers and other healthcare stakeholders tap into a deeper understanding of diseases, human behaviors and scientific advances, in an effort to advance their path toward cures. To learn more, visit www.iqvia.com.
Cautionary Statements Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, without limitation, our full-year 2024 guidance. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as “expect,” “assume,” “anticipate,” “intend,” “plan,” “forecast,” “believe,” “seek,” “see,” “will,” “would,” “target,” similar expressions, and variations or negatives of these words that are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from our expectations due to a number of factors, including, but not limited to, the following: business disruptions caused by natural disasters, pandemics such as the COVID-19 (coronavirus) outbreak, including any variants, and the public health policy responses to the outbreak, and international conflicts or other disruptions outside of our control such as the current situation in
Note on Non-GAAP Financial Measures
This release includes information based on financial measures that are not recognized under generally accepted accounting principles in
The non-GAAP financial measures are not presented in accordance with GAAP. Please refer to the schedules attached to this release for reconciliations of non-GAAP financial measures contained herein to the most directly comparable GAAP measures. Our full-year 2024 guidance measures (other than revenue) are provided on a non-GAAP basis without a reconciliation to the most directly comparable GAAP measure because the company is unable to predict with a reasonable degree of certainty certain items contained in the GAAP measures without unreasonable efforts. For the same reasons, the company is unable to address the probable significance of the unavailable information. Such items include, but are not limited to, acquisition related expenses, restructuring and related expenses, stock-based compensation and other items not reflective of the company's ongoing operations.
Non-GAAP measures are frequently used by securities analysts, investors and other interested parties in their evaluation of companies comparable to the company, many of which present non-GAAP measures when reporting their results. Non-GAAP measures have limitations as an analytical tool. They are not presentations made in accordance with GAAP, are not measures of financial condition or liquidity and should not be considered as an alternative to profit or loss for the period determined in accordance with GAAP or operating cash flows determined in accordance with GAAP. Non-GAAP measures are not necessarily comparable to similarly titled measures used by other companies. As a result, you should not consider such performance measures in isolation from, or as a substitute analysis for, the company’s results of operations as determined in accordance with GAAP.
IQVIAFIN
Table 1 |
||||||||||||||||
IQVIA HOLDINGS INC. AND SUBSIDIARIES |
||||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF INCOME |
||||||||||||||||
(preliminary and unaudited) |
||||||||||||||||
|
|
|
|
|
||||||||||||
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||||||
(in millions, except per share data) |
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||||||
Revenues |
|
$ |
3,814 |
|
|
$ |
3,728 |
|
|
$ |
7,551 |
|
|
$ |
7,380 |
|
Cost of revenues, exclusive of depreciation and amortization |
|
|
2,488 |
|
|
|
2,443 |
|
|
|
4,932 |
|
|
|
4,841 |
|
Selling, general and administrative expenses |
|
|
509 |
|
|
|
482 |
|
|
|
1,017 |
|
|
|
995 |
|
Depreciation and amortization |
|
|
269 |
|
|
|
259 |
|
|
|
533 |
|
|
|
512 |
|
Restructuring costs |
|
|
28 |
|
|
|
20 |
|
|
|
43 |
|
|
|
37 |
|
Income from operations |
|
|
520 |
|
|
|
524 |
|
|
|
1,026 |
|
|
|
995 |
|
Interest income |
|
|
(12 |
) |
|
|
(4 |
) |
|
|
(23 |
) |
|
|
(10 |
) |
Interest expense |
|
|
163 |
|
|
|
169 |
|
|
|
329 |
|
|
|
310 |
|
Other income, net |
|
|
(67 |
) |
|
|
(16 |
) |
|
|
(56 |
) |
|
|
(42 |
) |
Income before income taxes and equity in earnings (losses) of unconsolidated affiliates |
|
|
436 |
|
|
|
375 |
|
|
|
776 |
|
|
|
737 |
|
Income tax expense |
|
|
75 |
|
|
|
81 |
|
|
|
124 |
|
|
|
152 |
|
Income before equity in earnings (losses) of unconsolidated affiliates |
|
|
361 |
|
|
|
294 |
|
|
|
652 |
|
|
|
585 |
|
Equity in earnings (losses) of unconsolidated affiliates |
|
|
2 |
|
|
|
3 |
|
|
|
(1 |
) |
|
|
1 |
|
Net income |
|
$ |
363 |
|
|
$ |
297 |
|
|
$ |
651 |
|
|
$ |
586 |
|
Earnings per share attributable to common stockholders: |
|
|
|
|
|
|
|
|
||||||||
Basic |
|
$ |
1.99 |
|
|
$ |
1.61 |
|
|
$ |
3.58 |
|
|
$ |
3.17 |
|
Diluted |
|
$ |
1.97 |
|
|
$ |
1.59 |
|
|
$ |
3.53 |
|
|
$ |
3.12 |
|
Weighted average common shares outstanding: |
|
|
|
|
|
|
|
|
||||||||
Basic |
|
|
182.2 |
|
|
|
184.4 |
|
|
|
182.0 |
|
|
|
185.1 |
|
Diluted |
|
|
184.3 |
|
|
|
186.7 |
|
|
|
184.3 |
|
|
|
187.6 |
|
Table 2 |
||||||||
IQVIA HOLDINGS INC. AND SUBSIDIARIES |
||||||||
CONDENSED CONSOLIDATED BALANCE SHEETS |
||||||||
(preliminary and unaudited) |
||||||||
|
|
|
|
|
||||
(in millions, except per share data) |
|
June 30, 2024 |
|
December 31, 2023 |
||||
ASSETS |
|
|
|
|
||||
Current assets: |
|
|
|
|
||||
Cash and cash equivalents |
|
$ |
1,545 |
|
|
$ |
1,376 |
|
Trade accounts receivable and unbilled services, net |
|
|
3,255 |
|
|
|
3,381 |
|
Prepaid expenses |
|
|
191 |
|
|
|
141 |
|
Income taxes receivable |
|
|
41 |
|
|
|
32 |
|
Investments in debt, equity and other securities |
|
|
133 |
|
|
|
120 |
|
Other current assets and receivables |
|
|
457 |
|
|
|
546 |
|
Total current assets |
|
|
5,622 |
|
|
|
5,596 |
|
Property and equipment, net |
|
|
503 |
|
|
|
523 |
|
Operating lease right-of-use assets |
|
|
265 |
|
|
|
296 |
|
Investments in debt, equity and other securities |
|
|
106 |
|
|
|
105 |
|
Investments in unconsolidated affiliates |
|
|
181 |
|
|
|
134 |
|
Goodwill |
|
|
14,477 |
|
|
|
14,567 |
|
Other identifiable intangibles, net |
|
|
4,608 |
|
|
|
4,839 |
|
Deferred income taxes |
|
|
158 |
|
|
|
166 |
|
Deposits and other assets, net |
|
|
478 |
|
|
|
455 |
|
Total assets |
|
$ |
26,398 |
|
|
$ |
26,681 |
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|
||||
Current liabilities: |
|
|
|
|
||||
Accounts payable and accrued expenses |
|
$ |
3,313 |
|
|
$ |
3,564 |
|
Unearned income |
|
|
1,811 |
|
|
|
1,799 |
|
Income taxes payable |
|
|
185 |
|
|
|
116 |
|
Current portion of long-term debt |
|
|
1,167 |
|
|
|
718 |
|
Other current liabilities |
|
|
144 |
|
|
|
294 |
|
Total current liabilities |
|
|
6,620 |
|
|
|
6,491 |
|
Long-term debt, less current portion |
|
|
12,091 |
|
|
|
12,955 |
|
Deferred income taxes |
|
|
149 |
|
|
|
202 |
|
Operating lease liabilities |
|
|
192 |
|
|
|
223 |
|
Other liabilities |
|
|
632 |
|
|
|
698 |
|
Total liabilities |
|
|
19,684 |
|
|
|
20,569 |
|
Commitments and contingencies |
|
|
|
|
||||
Stockholders’ equity: |
|
|
|
|
||||
Common stock and additional paid-in capital, 400.0 shares authorized as of June 30, 2024 and December 31, 2023, |
|
|
11,061 |
|
|
|
11,028 |
|
Retained earnings |
|
|
5,343 |
|
|
|
4,692 |
|
Treasury stock, at cost, 75.7 and 75.7 shares as of June 30, 2024 and December 31, 2023, respectively |
|
|
(8,741 |
) |
|
|
(8,741 |
) |
Accumulated other comprehensive loss |
|
|
(949 |
) |
|
|
(867 |
) |
Total stockholders’ equity |
|
|
6,714 |
|
|
|
6,112 |
|
Total liabilities and stockholders’ equity |
|
$ |
26,398 |
|
|
$ |
26,681 |
|
Table 3 |
||||||||
IQVIA HOLDINGS INC. AND SUBSIDIARIES |
||||||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
||||||||
(preliminary and unaudited) |
||||||||
|
|
Six Months Ended June 30, |
||||||
(in millions) |
|
2024 |
|
2023 |
||||
Operating activities: |
|
|
|
|
||||
Net income |
|
$ |
651 |
|
|
$ |
586 |
|
Adjustments to reconcile net income to cash provided by operating activities: |
|
|
|
|
||||
Depreciation and amortization |
|
|
533 |
|
|
|
512 |
|
Amortization of debt issuance costs and discount |
|
|
11 |
|
|
|
8 |
|
Stock-based compensation |
|
|
104 |
|
|
|
125 |
|
Losses (earnings) from unconsolidated affiliates |
|
|
1 |
|
|
|
(1 |
) |
Gain on investments, net |
|
|
(12 |
) |
|
|
(10 |
) |
Benefit from deferred income taxes |
|
|
(80 |
) |
|
|
(70 |
) |
Changes in operating assets and liabilities: |
|
|
|
|
||||
Change in accounts receivable, unbilled services and unearned income |
|
|
187 |
|
|
|
(134 |
) |
Change in other operating assets and liabilities |
|
|
(285 |
) |
|
|
(197 |
) |
Net cash provided by operating activities |
|
|
1,110 |
|
|
|
819 |
|
Investing activities: |
|
|
|
|
||||
Acquisition of property, equipment and software |
|
|
(288 |
) |
|
|
(324 |
) |
Acquisition of businesses, net of cash acquired |
|
|
(221 |
) |
|
|
(444 |
) |
Purchases of marketable securities, net |
|
|
— |
|
|
|
(4 |
) |
Investments in unconsolidated affiliates, net of payments received |
|
|
(49 |
) |
|
|
(13 |
) |
Investments in debt and equity securities |
|
|
(2 |
) |
|
|
(36 |
) |
Proceeds from sale of property, equipment and software |
|
|
25 |
|
|
|
— |
|
Other |
|
|
— |
|
|
|
3 |
|
Net cash used in investing activities |
|
|
(535 |
) |
|
|
(818 |
) |
Financing activities: |
|
|
|
|
||||
Proceeds from issuance of debt |
|
|
— |
|
|
|
1,250 |
|
Payment of debt issuance costs |
|
|
— |
|
|
|
(18 |
) |
Repayment of debt and principal payments on finance leases |
|
|
(86 |
) |
|
|
(77 |
) |
Proceeds from revolving credit facility |
|
|
375 |
|
|
|
1,559 |
|
Repayment of revolving credit facility |
|
|
(585 |
) |
|
|
(1,784 |
) |
Payments related to employee stock incentive plans |
|
|
(60 |
) |
|
|
(58 |
) |
Repurchase of common stock |
|
|
— |
|
|
|
(619 |
) |
Contingent consideration and deferred purchase price payments |
|
|
(10 |
) |
|
|
(71 |
) |
Net cash (used in) provided by financing activities |
|
|
(366 |
) |
|
|
182 |
|
Effect of foreign currency exchange rate changes on cash |
|
|
(40 |
) |
|
|
(17 |
) |
Increase in cash and cash equivalents |
|
|
169 |
|
|
|
166 |
|
Cash and cash equivalents at beginning of period |
|
|
1,376 |
|
|
|
1,216 |
|
Cash and cash equivalents at end of period |
|
$ |
1,545 |
|
|
$ |
1,382 |
|
Table 4 |
||||||||||||||||
IQVIA HOLDINGS INC. AND SUBSIDIARIES |
||||||||||||||||
NET INCOME TO ADJUSTED EBITDA RECONCILIATION |
||||||||||||||||
(preliminary and unaudited) |
||||||||||||||||
|
|
|
|
|
||||||||||||
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||||||
(in millions) |
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||||||
Net Income |
|
$ |
363 |
|
|
$ |
297 |
|
|
$ |
651 |
|
|
$ |
586 |
|
Provision for income taxes |
|
|
75 |
|
|
|
81 |
|
|
|
124 |
|
|
|
152 |
|
Depreciation and amortization |
|
|
269 |
|
|
|
259 |
|
|
|
533 |
|
|
|
512 |
|
Interest expense, net |
|
|
151 |
|
|
|
165 |
|
|
|
306 |
|
|
|
300 |
|
(Income) loss in unconsolidated affiliates |
|
|
(2 |
) |
|
|
(3 |
) |
|
|
1 |
|
|
|
(1 |
) |
Stock-based compensation |
|
|
48 |
|
|
|
50 |
|
|
|
104 |
|
|
|
125 |
|
Other income, net (1) |
|
|
(66 |
) |
|
|
(37 |
) |
|
|
(45 |
) |
|
|
(52 |
) |
Restructuring and related expenses (2) |
|
|
39 |
|
|
|
30 |
|
|
|
61 |
|
|
|
60 |
|
Acquisition related expenses |
|
|
10 |
|
|
|
22 |
|
|
|
14 |
|
|
|
33 |
|
Adjusted EBITDA |
|
$ |
887 |
|
|
$ |
864 |
|
|
$ |
1,749 |
|
|
$ |
1,715 |
|
|
|
|
|
|
|
|
|
|
||||||||
(1) Reflects certain non-operating income items, revaluations of contingent consideration and certain non-recurring expenses. |
||||||||||||||||
(2) Reflects restructuring costs as well as accelerated expenses related to lease exits. |
||||||||||||||||
Table 5 |
||||||||||||||||
IQVIA HOLDINGS INC. AND SUBSIDIARIES |
||||||||||||||||
NET INCOME TO ADJUSTED NET INCOME RECONCILIATION |
||||||||||||||||
(preliminary and unaudited) |
||||||||||||||||
|
|
|
|
|
||||||||||||
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||||||
(in millions, except per share data) |
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||||||
Net Income |
|
$ |
363 |
|
|
$ |
297 |
|
|
$ |
651 |
|
|
$ |
586 |
|
Provision for income taxes |
|
|
75 |
|
|
|
81 |
|
|
|
124 |
|
|
|
152 |
|
Purchase accounting amortization (1) |
|
|
133 |
|
|
|
132 |
|
|
|
262 |
|
|
|
255 |
|
(Income) loss in unconsolidated affiliates |
|
|
(2 |
) |
|
|
(3 |
) |
|
|
1 |
|
|
|
(1 |
) |
Stock-based compensation |
|
|
48 |
|
|
|
50 |
|
|
|
104 |
|
|
|
125 |
|
Other income, net (2) |
|
|
(66 |
) |
|
|
(37 |
) |
|
|
(45 |
) |
|
|
(52 |
) |
Restructuring and related expenses (3) |
|
|
39 |
|
|
|
30 |
|
|
|
61 |
|
|
|
60 |
|
Acquisition related expenses |
|
|
10 |
|
|
|
22 |
|
|
|
14 |
|
|
|
33 |
|
Adjusted Pre Tax Income |
|
$ |
600 |
|
|
$ |
572 |
|
|
$ |
1,172 |
|
|
$ |
1,158 |
|
Adjusted tax expense |
|
|
(113 |
) |
|
|
(118 |
) |
|
|
(217 |
) |
|
|
(242 |
) |
Adjusted Net Income |
|
$ |
487 |
|
|
$ |
454 |
|
|
$ |
955 |
|
|
$ |
916 |
|
|
|
|
|
|
|
|
|
|
||||||||
Adjusted earnings per share attributable to common stockholders: |
|
|
|
|
|
|
|
|
||||||||
Basic |
|
$ |
2.67 |
|
|
$ |
2.46 |
|
|
$ |
5.25 |
|
|
$ |
4.95 |
|
Diluted |
|
$ |
2.64 |
|
|
$ |
2.43 |
|
|
$ |
5.18 |
|
|
$ |
4.88 |
|
Weighted average common shares outstanding: |
|
|
|
|
|
|
|
|
||||||||
Basic |
|
|
182.2 |
|
|
|
184.4 |
|
|
|
182.0 |
|
|
|
185.1 |
|
Diluted |
|
|
184.3 |
|
|
|
186.7 |
|
|
|
184.3 |
|
|
|
187.6 |
|
(1) Reflects all the amortization of acquired intangible assets. |
||||||||||||||||
(2) Reflects certain non-operating income items, revaluations of contingent consideration and certain non-recurring expenses. |
||||||||||||||||
(3) Reflects restructuring costs as well as accelerated expenses related to lease exits. |
||||||||||||||||
Table 6 |
||||||||
IQVIA HOLDINGS INC. AND SUBSIDIARIES |
||||||||
NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW RECONCILIATION |
||||||||
(preliminary and unaudited) |
||||||||
|
|
|
|
|
||||
(in millions) |
|
Three Months Ended
|
|
Six Months Ended
|
||||
Net Cash provided by Operating Activities |
|
$ |
588 |
|
|
$ |
1,110 |
|
Acquisition of property, equipment and software |
|
|
(143 |
) |
|
|
(288 |
) |
Free Cash Flow |
|
$ |
445 |
|
|
$ |
822 |
|
Table 7 |
||||
IQVIA HOLDINGS INC. AND SUBSIDIARIES |
||||
CALCULATION OF GROSS AND NET LEVERAGE RATIOS |
||||
AS OF JUNE 30, 2024 |
||||
(preliminary and unaudited) |
||||
(in millions) |
|
|
||
Gross Debt, net of Unamortized Discount and Debt Issuance Costs, as of June 30, 2024 |
|
$ |
13,258 |
|
Net Debt as of June 30, 2024 |
|
$ |
11,713 |
|
Adjusted EBITDA for the twelve months ended June 30, 2024 |
|
$ |
3,603 |
|
Gross Leverage Ratio (Gross Debt/LTM Adjusted EBITDA) |
|
|
3.68 |
x |
Net Leverage Ratio (Net Debt/LTM Adjusted EBITDA) |
|
|
3.25 |
x |
View source version on businesswire.com: https://www.businesswire.com/news/home/20240722784620/en/
Kerri Joseph, IQVIA Investor Relations (kerri.joseph@iqvia.com)
+1.610.244.3020
Source: IQVIA Holdings Inc.
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