- IQVIA Holdings Inc IQV posted Q2 sales of $3.54 billion, up 3% Y/Y on a reported basis and 7.1% at constant currency (CC), slightly above the consensus of $3.49 billion and the management guidance of $3.47 billion – $3.52 billion.
- Technology & Analytics Solutions revenue increased 4.1% (9.4% CC) to $1.41 billion.
- Research & Development Solutions (R&DS) sales reached $1.95 billion, +3.1% (6% CC).
- Contract Sales & Medical Solutions revenue were down 5.7% (+2.1% CC) to $183 million.
- R&DS contracted backlog grew 7.1% Y/Y to $25.6 billion. The company expects approximately $7.0 billion of this backlog to convert to revenue in the next twelve months.
- IQVIA reported Q2 adjusted EPS of $2.44,+14.6%, beating the consensus of $2.39.
- Guidance: IQVIA has revised FY22 sales guidance on updated for foreign exchange.
- It expects revenue of $14.4 billion – $14.55 billion, down from the previous range of $14.45 billion – $14.75 billion, versus the consensus of $14.59 billion.
- Additionally, the company reaffirmed its Adjusted EBITDA and Adjusted EPS outlook at the midpoint of its previous guidance ranges.
- The company expects FY22 adjusted EBITDA of $3.35 billion – $3.39 billion and adjusted EPS of $10 – $10.20 (consensus of $10.12).
- For Q3, IQVIA forecasts sales of $3.52 billion – $3.57 billion, below the consensus of $3.61 billion.
- The company sees adjusted EBITDA of $805 million – $820 million and adjusted EPS of $2.34 – $2.42, compared to the consensus of $2.48.
- Price Action: IQV shares are down 0.27% at $220.00 during the premarket session on the last check Thursday.
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Read More:IQVIA’s Q2 Earnings Surpass Expectations; Forex Hits FY22 Top-Line Forecast
2022-07-21 13:26:17
