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IQVIA(IQV) - 2022 Q1 - Earnings Call Transcript
2022-04-27 18:28
Financial Data and Key Metrics Changes - Revenue for Q1 2022 grew 4.7% on a reported basis and 6.8% at constant currency, with a $23 million beat above the midpoint of guidance driven by strong operational performance across all segments [21][34] - Adjusted EBITDA grew 9.1%, reflecting revenue growth and ongoing productivity initiatives, while adjusted diluted EPS of $2.47 grew 13.3% [23][37] - COVID-related revenues were approximately $375 million, down about 35% compared to Q1 2021, with core businesses growing about 13% at constant currency on an organic basis [34][35] Business Line Data and Key Metrics Changes - Technology and Analytic Solutions revenue was $1,439 million, up 6.8% reported and 9.8% at constant currency, with organic growth at constant currency exceeding 10% [35] - R&D Solutions revenue was $1,934 million, up 3.5% at actual FX rates and 4.7% at constant currency, with organic growth at constant currency around 17% [35] - Contract Sales and Medical Solutions revenue was $195 million, growing 1% reported and 5.7% at constant currency, with mid-single digits organic growth at constant currency [36] Market Data and Key Metrics Changes - The company reported a record contracted backlog in R&D Solutions of $25.3 billion, growing 9.1% year-over-year, with next 12 months revenue from backlog increasing to over $7 billion, growing 8% from a year ago [32][38] - Clinical trials started up 7% in Q1 compared to last year, with a 14% increase in oncology trial starts, indicating strong market demand [17] Company Strategy and Development Direction - The company is focusing on leveraging its connected intelligence framework to support the emerging needs of the pharma industry, including a multiyear agreement with Argenx for rare disease product development [24][25] - The company aims to maintain a low leverage ratio while pursuing aggressive share repurchases, with over $403 million repurchased in Q1 [40][66] - The company is cautious about M&A activities, looking for strategic acquisitions that add capabilities or allow entry into adjacent markets, while being selective due to high valuations [83][86] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the underlying business despite macroeconomic challenges, maintaining full-year 2022 profit guidance [46][41] - The company anticipates a revenue disruption from the Russia-Ukraine crisis estimated at $40 million to $50 million, primarily front-loaded in the year [41][51] - Management noted that the labor market remains competitive, but they are actively recruiting and managing attrition effectively [70][72] Other Important Information - The company was named the top CRO in overall reputation by clinical trial sites globally, reflecting strong performance in decentralized trials and patient recruitment [33] - The company has established a free online service for medical professionals to assist with the refugee crisis resulting from the Ukraine conflict [10] Q&A Session Summary Question: Impact of Russia-Ukraine on Q1 and annual projections - Management indicated that the impact in Q1 was minimal, with a projected annual impact of $40 million to $50 million, likely front-loaded in the year [50][51] Question: Revenue and profitability pacing - Management confirmed that the underlying business is consistent and strong, with expected organic growth rates in line with guidance [60][62] Question: Labor trends and management - Management acknowledged competitive labor trends but noted effective recruitment strategies and increased employee satisfaction due to high bonus payouts [70][74] Question: Real world evidence business growth - Management reported strong growth in the real world evidence segment, expecting continued double-digit growth despite the decline in COVID-related work [78][79] Question: M&A strategy and market conditions - Management remains cautious about M&A, focusing on strategic acquisitions that are accretive and necessary, while being selective due to high valuations [83][86]
IQVIA(IQV) - 2021 Q4 - Annual Report
2022-02-16 21:22
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K Delaware 27-1341991 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number) (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-35907 I ...
IQVIA(IQV) - 2022 Q4 - Earnings Call Presentation
2022-02-15 17:01
| --- | --- | |-----------------------|-------| | | | | | | | | | | Q4 2021 Earnings Call | | | February 15, 2022 | | IQVIA Template (V2.1.0) Legal IQVIA Template (V2.1.0) 1 This presentation should be viewed in conjunction with IQVIA's Q4 2021 earnings call Safe Harbor Statement for Forward-Looking Statements This presentation 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 Secur ...
IQVIA(IQV) - 2021 Q4 - Earnings Call Transcript
2022-02-15 16:12
Financial Data and Key Metrics Changes - Revenue for Q4 2021 grew 10.2% on a reported basis and 11.6% at constant currency, reaching $3.636 billion, with a $62 million beat above the midpoint of guidance [13][29] - Adjusted EBITDA for Q4 was $828 million, reflecting a 12.7% growth, while full-year adjusted EBITDA was $3.022 billion, up 26.8% year-over-year [36][39] - Adjusted diluted EPS for Q4 was $2.55, growing 20.9%, with full-year adjusted net income at $1.760 billion or $9.03 per share, up 41% [37][39] Business Line Data and Key Metrics Changes - Technology & Analytics Solutions (TAS) revenue for Q4 was $1.496 billion, up 5% reported and 6.6% at constant currency, with organic growth at high single digits excluding COVID-related work [31] - R&D Solutions revenue for Q4 was $1.944 billion, up 15.4% at actual FX rates and 16.3% at constant currency, with organic growth at approximately 25% excluding COVID-related work [32] - Contract Sales & Medical Solutions (CSMS) revenue for Q4 was $196 million, growing 3.7% reported and 7.4% at constant currency, with low single digits organic growth excluding COVID-related work [32] Market Data and Key Metrics Changes - COVID-related revenues in Q4 were approximately $325 million, down about 25% versus Q4 2020, with organic growth in the base business at mid-teens at constant currency [30] - For the full year, COVID-related revenues were approximately $1.8 billion, accounting for about half of the growth in 2021 [33] Company Strategy and Development Direction - The company aims to achieve at least $20 billion in revenue by 2025 as part of its new 20 x 2025 strategy, with a focus on refining strategies and action plans for growth [10][11] - The company has been recognized on Fortune's list of the World's Most Admired Companies, ranking first in several categories, highlighting its leadership position in the market [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving 2022 guidance despite challenges from COVID-19 and foreign exchange headwinds, anticipating strong growth in the base business [12][43] - The company is addressing labor and wage inflation challenges by implementing flexible work arrangements and compensation programs, while also benefiting from cost improvement initiatives [60][61] Other Important Information - The company reported a record free cash flow of $2.3 billion for the full year, allowing for significant capital deployment in investments, acquisitions, and share repurchases [39][41] - The Board approved a $2 billion increase to the share repurchase authorization, bringing the total to over $2.5 billion [42] Q&A Session Summary Question: Discussion on COVID-related work and its duration - Management indicated that COVID-related work will gradually decline over the next two years, with some residual work expected to continue into 2023 [57][59] Question: Insights on labor and wage inflation - Management acknowledged that labor management is a significant operational challenge, but they are implementing various strategies to mitigate wage inflation impacts while maintaining margin growth [60][61] Question: Impact of biotech funding environment - Management reported no significant changes in the RFP pipeline, with strong demand continuing in the R&D segment, despite some fluctuations in biotech funding [66][72] Question: Breakdown of revenue growth in TAS - Management detailed that TAS growth is driven by three tiers: core information solutions (flattish growth), analytics and consulting (moderate growth), and higher growth from real-world evidence and technology [110][115]
IQVIA(IQV) - 2021 Q3 - Earnings Call Presentation
2021-10-22 20:44
Q3 2021 Financial Performance - Revenue increased to $3391 million, a 217% increase AFx compared to $2786 million in Q3 2020[8,9] - Adjusted EBITDA reached $728 million, up from $604 million in Q3 2020[8,12] - Adjusted Diluted EPS rose to $217, compared to $163 in Q3 2020[8,12] Year-to-Date Performance - Year-to-date revenue reached $10238 million, a 270% increase AFx compared to $8061 million in 2020[9] - Year-to-date Adjusted EBITDA was $2194 million, compared to $1649 million in 2020[12] - Year-to-date Adjusted Diluted EPS was $648, compared to $432 in 2020[12] Segment Revenue Growth - Technology & Analytics Solutions revenue was $1337 million, a 108% increase AFx compared to $1207 million in Q3 2020[9] - Research & Development Solutions revenue was $1853 million, a 324% increase AFx compared to $1400 million in Q3 2020[9] - Contract Sales & Medical Solutions revenue was $201 million, a 123% increase AFx compared to $179 million in Q3 2020[9] Backlog and Bookings - Research & Development Solutions backlog increased by 127% to $244 billion[14] - Last Twelve Months Net New Bookings increased by 173% to $101 billion[14] Full Year 2021 Guidance - Updated revenue guidance is $13775 - $13850 million, representing a 213% - 219% increase[18] - Updated Adjusted EBITDA guidance is $2980 - $3010 million, representing a 250% - 263% increase[18] - Updated Adjusted Diluted EPS guidance is $885 - $895, representing a 379% - 394% increase[18]
IQVIA(IQV) - 2021 Q3 - Quarterly Report
2021-10-22 11:55
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________________________ FORM 10-Q _________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-35907 ...
IQVIA(IQV) - 2021 Q3 - Earnings Call Transcript
2021-10-21 18:45
Financial Data and Key Metrics Changes - Revenue for Q3 2021 was $3.391 billion, growing 21.7% on a reported basis and 21.1% at constant currency, with year-to-date revenue at $10.238 billion, growing 27% reported and 25% at constant currency [31][14] - Adjusted EBITDA for Q3 was $728 million, up 20.5%, with year-to-date adjusted EBITDA at $2.194 billion, growing 33.1% year-over-year [34] - Adjusted diluted EPS for Q3 was $2.17, growing 33.1%, with year-to-date adjusted net income at $1.264 billion or $6.48 per share [34][15] - The company raised its full-year 2021 revenue guidance by $188 million, now expecting revenue between $13.775 billion and $13.850 billion, representing year-over-year growth of 21.3% to 21.9% [38] Business Line Data and Key Metrics Changes - Technology & Analytics Solutions revenue for Q3 was $1.337 billion, up 10.8% reported and 9.9% at constant currency, with year-to-date revenue at $4.38 billion, up 17.6% reported and 14.9% at constant currency [31] - R&D Solutions revenue for Q3 was $1.853 billion, up 32.4% at actual FX rates and 31.9% at constant currency, with year-to-date revenue at $5.612 billion, up 37.7% reported and 36.2% at constant currency [32] - Contract sales in Medical Solutions revenue for Q3 was $201 million, up 12.3% reported and 12.8% at constant currency, with year-to-date revenue at $588 million, growing 6.5% reported and 5.1% at constant currency [33] Market Data and Key Metrics Changes - The pipeline of late-stage molecules is at an all-time high with almost 3,000 molecules in active Phase II or Phase III development [12] - Clinical trial starts are trending well ahead of recent years, with year-to-date starts up 23% over 2020 and 13% over 2019 [12] - New drug approvals by the FDA are keeping pace with historically high levels, with 40 new drugs approved year-to-date [12] Company Strategy and Development Direction - The company is focusing on expanding its lab capabilities, recently opening a new 160,000 square foot innovation laboratory in North Carolina [27] - The company is investing in decentralized trials (DCT) and has developed innovative clinical patient engagement offerings to improve recruitment and diversity in clinical trials [21][24] - The company plans to provide financial guidance for 2022 at the upcoming analyst and investor conference on November 16 [13] Management's Comments on Operating Environment and Future Outlook - Management remains bullish on the outlook for end markets and the company, citing strong dynamics in the life sciences industry [12] - The company has learned to manage disruptions caused by COVID-19, and the operational impact has been minimal [10] - Management acknowledged challenges in the labor market but noted that margin expansion has continued despite cost pressures [50] Other Important Information - The company reported a net leverage ratio of 3.65x trailing 12-month adjusted EBITDA as of September 30 [36] - Free cash flow for the year-to-date was almost $1.8 billion, showing a strong improvement trend over the past three years [37] Q&A Session Summary Question: Operational implications of DCT and OCT offerings - Management noted that DCT increases productivity and reduces labor, enabling more efficient execution of trials [47] Question: Impact of labor market on EBITDA margins - Management confirmed that the tight labor market is a headwind for margins, but productivity measures have helped offset this [50] Question: M&A spend in the quarter - Management indicated that M&A contributions were minimal in Q3, with a larger impact expected in Q4 [54] Question: COVID contributions to revenue and bookings - Management stated that COVID-related work is expected to taper off gradually, with a strong underlying business in other therapeutic areas [68] Question: Market share trends in R&DS - Management expressed confidence in gaining market share due to disruptions among competitors and a strong biotech environment [105]
IQVIA(IQV) - 2021 Q2 - Quarterly Report
2021-07-28 20:14
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________________________ FORM 10-Q _________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-35907 ____ ...
IQVIA(IQV) - 2021 Q2 - Earnings Call Presentation
2021-07-28 05:41
| --- | --- | |-----------------------|-------| | | | | | | | | | | Q2 2021 Earnings Call | | | July 27, 2021 | | IQVIA Template (V2.1.0) Legal IQVIA Template (V2.1.0) 1 This presentation should be viewed in conjunction with IQVIA's Q2 2021 earnings call Safe Harbor Statement for Forward-Looking Statements This presentation 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 Securitie ...
IQVIA(IQV) - 2021 Q2 - Earnings Call Transcript
2021-07-27 18:35
IQVIA Holdings, Inc. (NYSE:IQV) Q2 2021 Earnings Conference Call July 27, 2021 9:00 AM ET Company Participants Nicholas Childs - SVP, Financial Planning & Analysis Ari Bousbib - Chairman, President & CEO Ronald Bruehlman - EVP & CFO Conference Call Participants Eric Coldwell - Robert W. Baird & Co. Shlomo Rosenbaum - Stifel, Nicolaus & Company John Kreger - William Blair & Company Tycho Peterson - JPMorgan Chase & Co. Jack Meehan - Nephron Research Daniel Leonard - Wells Fargo Securities Patrick Donnelly - ...