2024

Billion

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<p class="has-drop-cap">IQVIA Holdings Inc. (NYSE: IQV) has recently disclosed its financial outcomes for the <a aria-label="first quarter of 2024 (opens in a new tab)" href="https://s201.q4cdn.com/580005511/files/doc_financials/2024/q1/IQVIA-Q1-2024-Earnings-Press-Release-_-Final.pdf" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">first quarter of 2024</a>, showcasing a solid performance across its diverse service segments. The company reported a revenue of $3,737 million, marking a 2.3 percent increase on a reported basis and a 2.9 percent increase at constant currency compared to the same period in 2023.</p>
<p>Particularly noteworthy was the Research &amp; Development Solutions (R&amp;DS) segment, which saw a revenue increase of 3.4 percent on a reported basis and 3.8 percent at constant currency. This segment, excluding the impact of pass-throughs, experienced a robust growth of 6.9 percent on a reported basis. <br><br>The company’s contracted backlog in R&amp;DS stood at an impressive $30.1 billion, up by 7.9 percent year-over-year. Approximately $7.7 billion of this backlog is expected to convert to revenue in the next twelve months. The first-quarter book-to-bill ratio was a healthy 1.23x, signaling strong future revenue potential.</p>
<h3 id="iqvia-holdings-beats-eps-and-revenue-expectations-in-q1">IQVIA Holdings Beats EPS and Revenue Expectations in Q1</h3>
<p>IQVIA’s financial position remains strong, with cash and cash equivalents totaling $1.4 billion as of March 31, 2024. The company’s net debt was $12.09 billion, resulting in a net leverage ratio of 3.38x trailing twelve-month Adjusted EBITDA. <br><br>For the first quarter, IQVIA generated an operating cash flow of $522 million and a free cash flow of $377 million. These figures underscore the company’s robust financial health and ability to generate significant cash flows, further solidifying its position as a leader in providing advanced analytics, technology solutions, and clinical research services to the life sciences industry.</p>
<p>Analysts had projected an <a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="noopener noreferrer nofollow" class="deco-link">EPS</a> of $2.48, whereas the company reported an adjusted diluted EPS of $2.54, slightly outperforming the expectations. <br><br>However, the revenue of $3.74 billion comfortably exceeded the anticipated $3.7 billion, indicating a stronger-than-expected top-line growth. This performance is particularly commendable given the challenging global economic environment and underscores IQVIA’s operational resilience and the effectiveness of its business strategy.</p>
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<h3 id="iqvia-expects-full-year-revenue-to-be-between-15-32-to-15-57-billion">IQVIA Expects Full Year Revenue to be Between $15.32 to $15.57 Billion</h3>
<p>IQVIA has reaffirmed its full-year 2024 guidance, reflecting confidence in its business outlook despite the ongoing global uncertainties. <br><br>The company expects full-year revenue to be in the range of $15.325 billion to $15.575 billion on a reported basis, considering the $75 million impact of the strengthening US dollar. This guidance suggests a growth rate of 2.3 to 3.9 percent, with a foreign exchange headwind of approximately 100 basis points.</p>
<p>Furthermore, IQVIA anticipates its full-year Adjusted EBITDA to be between $3,700 million and $3,800 million, representing a growth of 3.7 to 6.5 percent. <br><br>The Adjusted Diluted EPS guidance is set at $10.95 to $11.25, indicating a year-over-year increase of 7.4 to 10.3 percent.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/iqvia-holdings-reports-revenue-growth-to-3-74-billion-in-q1-beats-forecasts/">IQVIA Reports Revenue Growth to $3.74 Billion in Q1, Beats Forecasts</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

IQVIA Reports Revenue Growth to $3.74 Billion in Q1, Beats Forecasts

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