- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
