In the current global economy, which is more interconnected than ever, a company's success in penetrating international markets is crucial for its financial health and growth journey. Investors must understand a company's dependence on overseas markets, as this offers a window into the company's earnings stability, its ability to benefit from varied economic cycles and its potential for long-term growth. Participation in global economies acts as a defense against economic difficulties at home and a pathway ...

Core Viewpoint - Investors are evaluating IQVIA Holdings (IQV) and Waters (WAT) for potential undervalued stock opportunities, with IQV currently appearing as the more favorable option based on various valuation metrics [1]. Valuation Metrics - IQV has a forward P/E ratio of 22.16, while WAT has a higher forward P/E of 25.97, indicating that IQV may be more attractively priced [3]. - The PEG ratio for IQV is 2.05, compared to WAT's PEG ratio of 4.90, suggesting that IQV's expected earnings growth is more reasonably priced [3]. - IQV holds a Value grade of B, while WAT has a Value grade of D, reflecting stronger estimate revision activity and more attractive valuation metrics for IQV [4]. Zacks Rank and Style Scores - IQV has a Zacks Rank of 2 (Buy), indicating a positive earnings estimate revision trend, while WAT has a Zacks Rank of 4 (Sell) [2]. - The Zacks Rank system favors stocks with strong earnings estimate revisions, and combining this with a strong Value grade can help identify great value stocks [5]. Additional Valuation Comparisons - IQV's P/B ratio is 6.65, significantly lower than WAT's P/B ratio of 14.50, further indicating that IQV may be undervalued relative to its book value [6]. - The Value category of the Style Scores system utilizes various metrics, including P/E ratio, P/S ratio, earnings yield, and cash flow per share, to assess a company's fair value [7].

Financial Performance - The Company reported net income of $363 million for the three months ended June 30, 2024, compared to $297 million for the same period in 2023, representing a 22.2% increase [130]. - Diluted earnings per share for the six months ended June 30, 2024, was $3.53, up from $3.12 for the same period in 2023, reflecting a 13.2% increase [130]. - Revenues for Q2 2024 increased by $86 million, or 2.3%, compared to Q2 2023, driven by a constant currency revenue growth of approximately $130 million, or 3.5% [143]. - For the first six months of 2024, revenues rose by $171 million, or 2.3%, compared to the same period in 2023, with constant currency growth of approximately $235 million, or 3.2% [144]. - Total revenues for the first six months of 2024 reached $7,551 million, compared to $7,380 million in the same period of 2023 [154]. - Net income for the six months ended June 30, 2024, was $262 million, significantly up from $86 million for the twelve months ended December 31, 2023 [240]. Debt and Cash Management - As of June 30, 2024, the total principal amount of debt was $13,328 million, a decrease from $13,752 million as of December 31, 2023 [112]. - The Company had $1,995 million of available borrowing capacity on its $2,000 million revolving credit facility as of June 30, 2024 [113]. - The total cash balance as of June 30, 2024, was $1,545 million, an increase from $1,376 million as of December 31, 2023 [229]. - Net cash provided by operating activities for the first six months of 2024 was $1,110 million, compared to $819 million in the same period of 2023 [220]. - Cash provided by operating activities increased by $291 million during the first six months of 2024 compared to the same period in 2023 [247]. - Cash used in investing activities decreased by $283 million during the first six months of 2024, primarily due to less cash used for acquisitions of businesses, which decreased by $223 million [248]. Operational Changes and Restructuring - The Company is undergoing restructuring actions to reduce overcapacity and align resources, expected to continue throughout 2024 and into 2025 [124]. - Restructuring costs for Q2 2024 amounted to $28 million, up from $20 million in Q2 2023 [147]. - Restructuring costs incurred during 2024 and 2023 are expected to continue throughout 2024 and into 2025, aimed at streamlining global operations and integrating acquisitions [188]. Segment Performance - The Company operates through three reportable segments: Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions [129]. - Segment profit for Technology & Analytics Solutions was $361 million in Q2 2024, down from $370 million in Q2 2023 [154]. - Research & Development Solutions saw a segment profit increase to $493 million in Q2 2024, compared to $468 million in Q2 2023 [154]. - Research & Development Solutions' revenues for Q2 2024 were $2,147 million, an increase of $51 million, or 2.4%, compared to Q2 2023 [203]. - Contract Sales & Medical Solutions' revenues were $172 million in Q2 2024, a decrease of $4 million, or 2.3%, compared to Q2 2023 [211]. Expenses and Costs - Cost of revenues increased by $91 million for the first six months of 2024, with a constant currency increase of approximately $324 million, or 6.7% [145]. - Selling, general and administrative expenses rose by $27 million in Q2 2024, reflecting a constant currency increase of approximately $45 million, or 9.3% [146]. - Selling, general and administrative expenses for the six months ended June 30, 2024, increased by $22 million, or 2.2%, to $1,017 million from $995 million in 2023, maintaining 13.5% of revenues [167]. - The cost of revenues for Research & Development Solutions increased by $14 million, or 1.0%, in Q2 2024, with a constant currency increase of approximately $110 million, or 7.8% [205]. - Selling, general and administrative expenses for Research & Development Solutions rose by $12 million, or 5.7%, in Q2 2024, including a constant currency increase of approximately $16 million, or 7.6% [207]. Tax and Interest - The effective income tax rate for the first six months of 2024 was 16.0%, down from 20.6% in 2023, positively impacted by changes in the geographical mix of earnings [191]. - Interest expense for the six months ended June 30, 2024, was $329 million, an increase from $310 million in 2023, primarily due to higher base rate interest costs [170]. Acquisitions and Goodwill - The Company completed several individually immaterial acquisitions during the six months ended June 30, 2024, contributing to goodwill primarily from expected synergies and new customer relationships [121].

Life sciences clinical researcher IQVIA's second-quarter results beat analysts' expectations for revenue and net income. The company also raised its full-year guidance. IQVIA said its technology and analytics products were major growth drivers. IQVIA's stock rose nearly 7% in intraday trading Monday to move into positive territory for the year. Growth Driven by Technology & Analytics Solutions Unit Looking ahead, IQVIA narrowed its full-year revenue guidance to a range of $15.43 billion to $15.53 billion fr ...

Company Performance - IQV stock has gained 5.2% over the past six months, outperforming the industry rally of 2.9% [1] - IQVIA Holdings Analytics Inc. reported impressive second-quarter 2024 results, with earnings and revenues surpassing the Zacks Consensus Estimate [12] - Adjusted earnings were $2.6 per share, exceeding the Zacks Consensus Estimate by 2.3% and increasing 2.4% year-over-year [6] - Total revenues reached $3.8 billion, slightly surpassing the consensus estimate and rising 2.3% from the previous year [6] - Adjusted EBITDA for the second quarter was $887 million, indicating a 12.7% growth from the year-ago quarter [8] Revenue Segments - Research and Development segment revenues were $2.2 billion, increasing 2.4% from the year-ago quarter and 3.3% on a constant-currency basis, surpassing the estimate of $2.1 billion [2] - Technology and Analytics segment revenues were $1.5 billion, increasing 2.7% from the second quarter of 2023, meeting the estimate and increasing 3.8% on a constant-currency basis [7] - Contract Sales & Medical Solutions revenues declined 2.3% year-over-year to $172 million, missing the estimate of $177 million but increasing 2.8% on a constant-currency basis [13] Financial Position - The company exited the quarter with cash and cash equivalents of $1.5 billion, up from $1.4 billion at the end of the previous quarter [3] - Long-term debt decreased to $12.1 billion from $12.8 billion at the end of the first quarter of 2024 [3] - Net cash generated from operating activities was $588 million, with capital expenditure of $143 million, resulting in a free cash flow of $445 million for the quarter [14] Guidance - For 2024, IQV updated its revenue guidance to $15.43-$15.53 billion, with the mid-point of $15.48 billion higher than the Zacks Consensus Estimate of $15.44 billion [4] - The adjusted EPS guidance was raised to $11.10-$11.30, compared to the previous range of $10.95-$11.25, with the Zacks Consensus Estimate at $11.07 [15] - The updated guided range for adjusted EBITDA is anticipated to be $3.71-$3.77 billion, compared to the previous range of $3.70-$3.80 billion [15]

Company Performance - IQVIA reported quarterly earnings of $2.64 per share, exceeding the Zacks Consensus Estimate of $2.58 per share, and up from $2.43 per share a year ago [9] - The company posted revenues of $3.81 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.69%, and compared to revenues of $3.73 billion in the same quarter last year [4] - IQVIA has surpassed consensus EPS estimates four times over the last four quarters [10] Market Comparison - IQVIA shares have declined approximately 2.9% since the beginning of the year, while the S&P 500 has gained 15.4% [5] - The Zacks Medical - Instruments industry, to which IQVIA belongs, is currently ranked in the bottom 44% of over 250 Zacks industries, indicating potential underperformance compared to higher-ranked industries [12] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $2.81 on revenues of $3.86 billion, and for the current fiscal year, it is $11.07 on revenues of $15.44 billion [7] - The estimate revisions trend for IQVIA is mixed, resulting in a Zacks Rank 3 (Hold) for the stock, suggesting it is expected to perform in line with the market in the near future [6][11]

IQVIA Reports Second-Quarter 2024 Results RESEARCH TRIANGLE PARK, N.C. – (BUSINESS WIRE) – July 22, 2024 – IQVIA Holdings Inc. ("IQVIA") (NYSE:IQV), a leading global provider of advanced analytics, technology solutions, and clinical research services to the life sciences industry, today reported financial results for the quarter ended June 30, 2024. Revenue for the second quarter of $3,814 million increased 2.3 percent on a reported basis and 3.5 percent at constant currency, compared to the second quarter ...

Q2 Expectations The Research and Development segment's revenues are expected to be $2.1 billion, implying a 1.7% rise from the year-ago reported figure.The top 10 pharmaceutical companies chose IQVIA to support the novel respiratory vaccine development, which could lead to a breakthrough as the vaccine targets several respiratory viruses simultaneously. Such a feat is anticipated to have benefited this segment's revenues.Our estimate for Contract sales and Medical solutions' revenues is pegged at $177 milli ...

IQV has reported impressive first-quarter 2024 results. Adjusted earnings (excluding 98 cents from nonrecurring items) were $2.5 per share, which beat the Zacks Consensus Estimate by 2.8% and increased 3.7% from the year-ago reported figure. Total revenues of $3.7 billion surpassed the consensus estimate by 1.2% and grew 2.3% from the year-ago quarter. The company's addressable market size is more than $330 billion. It consists of outsourced research and development, real-world evidence and connected health ...

IQVIA Holdings Inc. (IQV) yesterday unveiled a clinical trial technology platform, One Home for Sites. The platform streamlines the process of management of trials by acting as a single sign-on and a single dashboard for various systems and tasks. By integrating various clinical applications into a single platform, One Home for Sites allows pharmaceutical companies and their software vendors to streamline clinical application management. This consolidation tackles the issue of technology overload, where sta ...