Core Insights - IQVIA Holdings Inc. (IQV) is set to release its second-quarter 2025 results on July 22, with earnings estimated at $2.76 per share, reflecting a 4.6% year-over-year increase, and revenues projected at $3.96 billion, indicating a 3.8% rise year-over-year [1][8]. Revenue Expectations - Research and Development Solutions (R&DS) revenues are anticipated to reach $2.2 billion, representing a 2% increase from the previous year, driven by strong indicators such as qualified pipeline and backlog [3][8]. - Technology and Analytics Solutions (TAS) revenues are estimated at $1.58 billion, suggesting a 5.5% year-over-year growth, supported by robust demand for integrated solutions [4][8]. - Contract Sales and Medical Solutions revenues are projected at $181.9 million, indicating a 5.8% growth compared to the same quarter last year [4][8]. Earnings Performance - The adjusted EBITDA for the first quarter is estimated at $899.4 million, reflecting a 1.4% year-over-year growth, attributed to strong revenue performance and price discipline [5]. - IQV has a history of earnings surprises, having exceeded the Zacks Consensus Estimate in the last four quarters with an average surprise of 1.7% [2]. Earnings Prediction Model - The current model does not predict a definitive earnings beat for IQV, with an Earnings ESP of -0.26% and a Zacks Rank of 3 (Hold) [6]. Comparative Stocks - Veralto Corporation (VLTO) and Equifax (EFX) are highlighted as potential stocks to consider, with VLTO showing an Earnings ESP of +1.55% and EFX at +1.46%, both indicating favorable conditions for earnings performance [7][9].

Company Overview - IQVIA Holdings Inc. provides advanced analytics, technology solutions, and contract research services to the life sciences industry, formed through the merger of IMS Health and Quintiles [11] - The company operates in over 100 countries and employs approximately 88,000 people [11] Investment Ratings - IQVIA is currently rated 3 (Hold) on the Zacks Rank, with a VGM Score of A [12] - The Growth Style Score for IQVIA is B, indicating a forecasted year-over-year earnings growth of 6.4% for the current fiscal year [12] Earnings Estimates - In the last 60 days, three analysts have revised their earnings estimates upwards, with the Zacks Consensus Estimate increasing to $11.84 per share [12] - IQVIA has an average earnings surprise of +1.7%, suggesting a positive trend in earnings performance [12] Investment Potential - With a solid Zacks Rank and top-tier Growth and VGM Style Scores, IQVIA is recommended as a potential investment opportunity for growth investors [13]

Core Insights - IQVIA (IQV) is currently in Phase 18 of its 18-Phase Adhishthana Cycle, indicating a complex situation that may not resolve until 2030 [1] - The stock has shown an 88.88% alignment with the Adhishthana Principles up to Phase 17, which forecasts stock behavior through cyclical analysis and quantitative signals [2] - The stock's Level of Nirvana was established at $101.885 during Phase 6, serving as a long-term valuation barometer [4] - A breakdown occurred between Phases 4 and 8, leading to strong selling pressure and a waterfall correction, with support found around the Level of Nirvana [7] - The stock's rally during Phases 10 and 11 was deemed illusory due to the earlier breakdown, resulting in a bearish trend lasting over 1200 days [8][11] - Weak Guna Triads during Phases 14 to 16 indicate low chances of reaching the Phase 18 peak [11] - The stock is expected to remain in a time spiral until 2030, with a phase of inaction from April 2026 to April 2030 [14][16] Adhishthana Cycle Overview - IQVIA began its Adhishthana Cycle on May 6, 2013, with significant events occurring throughout the phases [2] - The formation of the Cakra between Phases 4 and 8 indicated potential strength, but the subsequent breakdown attracted selling pressure [7] - The stock's performance in Phases 10 and 11 was initially promising but was invalidated by earlier bearish trends [8] Current Phase Analysis - Currently in Phase 18, which ends on October 4, 2026, the stock is also in Phase 3 on monthly charts, indicating a prolonged downtrend [16] - The upcoming Phase 4 on monthly charts will be a period of inaction lasting until April 30, 2030 [16]

Summary of IQVIA (IQV) 2025 Conference Call Company Overview - **Company**: IQVIA (IQV) - **Industry**: Life Sciences Tools and Diagnostics Key Financial Highlights - **Q1 Performance**: Revenue exceeded the high end of guidance, EBITDA was above the midpoint, and EPS was at the high end of guidance [3][4] - **TAS Growth**: TAS experienced over 7.6% growth at constant currency [3] - **Cash Flow**: Cash flow increased by 13% year-over-year, representing 89% of adjusted net income, which is at the high end of forecasts [4] - **Revenue Guidance**: Revenue guidance was raised by $275 million, primarily due to foreign exchange (FX) impacts [4] - **Bookings**: Book-to-bill ratio was 1.02, with a noted slowdown in decision-making and an increase in the time between RFPs and awards by about 10% [5][6] Industry Dynamics - **Emerging Biopharma vs. Large Pharma**: Emerging biopharma is experiencing a slowdown in funding, while large pharma is facing delays in decision-making due to uncertainty from recent government actions [8][9] - **Funding Environment**: The funding environment for biotech has been weak year-to-date, impacting order placements and decision-making [10][11] - **Regulatory Environment**: Concerns regarding agency changes, tariffs, and pricing actions are affecting large pharma's decision-making processes [13][14][17] Market Trends - **Real World Evidence (RWE)**: Growth in RWE is driven by the introduction of new drugs and increased scrutiny from payers for evidence of effectiveness [29][32] - **TAS Business**: The TAS segment is expected to continue its recovery, supported by new drug approvals and the need for commercialization support [22][23][26] Competitive Landscape - **Pricing Pressure**: Increased competition has led to pricing pressures, particularly in the FSP business, but management is focused on offsetting this with cost reductions [40][41] - **Market Dynamics**: Smaller CROs are feeling more pressure for business, which may lead to increased pricing competition [42] Margin and Growth Outlook - **Margin Projections**: Adjusted EBITDA margin is projected to contract by 20 basis points due to FX impacts, but long-term margin growth is expected to remain stable [45][49] - **Revenue Growth Expectations**: Anticipated constant currency revenue growth of 6-9% annually, driven by pharma spending, market share expansion, outsourcing, and M&A [49][50] Capital Deployment Strategy - **M&A and Share Repurchase**: The company is focused on M&A and share repurchase, with a preference for M&A opportunities that enhance growth capabilities [51][54] - **Debt Management**: Comfortable with current debt levels, with a net leverage ratio between 3.3 and 3.5 [52] Underappreciated Aspects - **Business Model**: IQVIA is not a pure CRO; its TAS business represents 40% of operations, which is often overlooked in comparisons with CRO peers [57][58] This summary encapsulates the key points discussed during the IQVIA conference call, highlighting the company's financial performance, industry dynamics, market trends, competitive landscape, margin outlook, capital deployment strategy, and aspects of the business that may be underappreciated.

Core Insights - The performance of IQVIA Holdings' international operations is crucial for understanding its financial resilience and growth potential [1][2] - The company's total revenue for the quarter was $3.83 billion, reflecting a year-over-year increase of 2.5% [4] International Revenue Breakdown - Revenue from Europe and Africa was $1.22 billion, accounting for 31.97% of total revenue, which was a surprise of +1.2% compared to analyst expectations [5] - Asia-Pacific contributed $798 million, making up 20.84% of total revenue, exceeding the consensus estimate by +3.66% [6] Future Revenue Expectations - Analysts anticipate total revenue of $3.95 billion for the current fiscal quarter, a 3.5% increase year-over-year, with expected contributions of 31.9% from Europe and Africa and 20% from Asia-Pacific [7] - For the full year, total revenue is projected to be $16.01 billion, up 4% from the previous year, with Europe and Africa expected to contribute $5.11 billion and Asia-Pacific $3.21 billion [8] Conclusion on International Operations - The reliance on global markets presents both opportunities and challenges for IQVIA, making the analysis of international revenue trends essential for forecasting future performance [9][10]

Core Insights - IQVIA Holdings reported $3.83 billion in revenue for Q1 2025, a year-over-year increase of 2.5% and an EPS of $2.70, up from $2.54 a year ago [1] - The revenue exceeded the Zacks Consensus Estimate of $3.77 billion by 1.55%, and the EPS also surpassed the consensus estimate of $2.63 by 2.66% [1] Financial Performance Metrics - The backlog stood at $31.5 billion, slightly above the average estimate of $31.43 billion from two analysts [4] - Revenue from Technology & Analytics Solutions was $1.55 billion, exceeding the estimated $1.52 billion, reflecting a 6.4% increase year-over-year [4] - Revenue from Research & Development Solutions reached $2.10 billion, slightly above the $2.08 billion estimate, with a year-over-year change of 0.3% [4] - Revenue from Contract Sales & Medical Solutions was $181 million, below the estimated $183.42 million, showing a year-over-year decline of 4.2% [4] - Segment profit for Technology & Analytics Solutions was $360 million, compared to the estimated $365.56 million [4] - Segment profit for Contract Sales & Medical Solutions was $11 million, below the estimated $15.65 million [4] - Segment profit for Research & Development Solutions was $460 million, compared to the estimated $471.69 million [4] Stock Performance - IQVIA shares have returned -0.5% over the past month, while the Zacks S&P 500 composite increased by 11.5% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Financial Performance - Revenues for Q1 2025 increased by $92 million, or 2.5%, to $3,829 million compared to Q1 2024, driven by a constant currency revenue growth of approximately $129 million, or 3.5%[89] - Total revenues for the first quarter of 2025 were $3,829 million, an increase of $92 million, or 2.5%, compared to $3,737 million in the same period of 2024[99] - Income from operations for Q1 2025 was $558 million, while net income was $173 million[136] Cost and Expenses - Cost of revenues, exclusive of depreciation and amortization, rose by $87 million to $2,531 million, representing 66.1% of revenues, compared to 65.4% in Q1 2024[90] - Selling, general and administrative expenses remained consistent at $508 million, accounting for 13.3% of revenues, a slight decrease from 13.6% in Q1 2024[91] - The company reported a constant currency increase in cost of revenues of approximately $137 million, or 5.6%, for Q1 2025[90] - Restructuring costs increased to $29 million in Q1 2025 from $15 million in Q1 2024, aimed at streamlining global operations and integrating acquisitions[93] Segment Performance - Technology & Analytics Solutions contributed a $110 million increase in revenues, while Contract Sales & Medical Solutions saw a $4 million decrease[89] - Technology & Analytics Solutions segment revenues increased by $93 million, or 6.4%, to $1,546 million, driven by constant currency growth of approximately $110 million, or 7.6%[101] - Research & Development Solutions segment revenues were $2,102 million, a slight increase of $7 million, or 0.3%, with a constant currency growth of approximately $23 million, or 1.1%[108] - Contract Sales & Medical Solutions segment revenues decreased by $8 million, or 4.2%, to $181 million, primarily due to volume-related decreases in services performed[114] - The total segment profit for the first quarter of 2025 was $496 million, compared to $506 million in the same period of 2024[99] - Research & Development Solutions' contracted backlog increased from $31.1 billion to $31.5 billion, with an expected revenue conversion of approximately $7.9 billion in the next twelve months[107] Tax and Equity - The effective income tax rate for Q1 2025 was 18.9%, up from 14.4% in Q1 2024, influenced by changes in the geographical mix of earnings[96] - Equity in losses of unconsolidated affiliates increased to $13 million in Q1 2025 from $3 million in Q1 2024, reflecting operational results of unconsolidated affiliates[98] Cash Flow and Financing - Cash balance as of March 31, 2025, was $1,740 million, an increase from $1,702 million as of December 31, 2024[119] - Net cash provided by operating activities increased by $46 million to $568 million in the first quarter of 2025, driven by increases in cash from accounts receivable and unbilled services[127] - The company repurchased 2.3 million shares for $425 million under its equity repurchase program, with remaining authorization to repurchase up to $2,588 million[122] - Net cash used in financing activities increased by $152 million to $(258) million in Q1 2025 compared to $(106) million in Q1 2024, primarily due to higher cash payments on debt and stock repurchases[129] - Cash payments for debt and principal payments on finance leases totaled $2,053 million in Q1 2025[129] Indebtedness and Assets - Total indebtedness as of March 31, 2025, was $14,389 million, with $895 million of additional available borrowings under the revolving credit facility[123] - Total current assets decreased from $935 million as of December 31, 2024, to $629 million as of March 31, 2025[136] - Total current liabilities slightly increased from $3,792 million as of December 31, 2024, to $3,809 million as of March 31, 2025[136] - Total noncurrent liabilities increased from $12,333 million as of December 31, 2024, to $12,626 million as of March 31, 2025[136] - Amounts due from non-Guarantor subsidiaries decreased from $4,952 million to $3,718 million from December 31, 2024, to March 31, 2025[136] Debt Issuance - The company issued $1,250 million in 6.250% senior secured notes due 2029 and $750 million in 5.700% senior secured notes due 2028, raising a total of $2,000 million in gross proceeds[130] Currency Impact - Approximately 30% of revenues in Q1 2025 were denominated in currencies other than the US dollar, impacting financial results due to foreign currency fluctuations[87] Corporate Governance - The company reported no material changes to its critical accounting policies or market risk disclosures compared to the previous year[139][140] AI Commitment - The company is committed to using AI responsibly, with a focus on privacy, regulatory compliance, and patient safety in its service offerings[82]

Core Viewpoint - IQVIA Holdings Analytics Inc. reported strong first-quarter 2025 results, with earnings and revenues exceeding expectations, indicating positive growth trends in its business segments [1][7]. Financial Performance - Adjusted earnings were $2.70 per share, surpassing the Zacks Consensus Estimate by 2.7% and increasing 6.3% year-over-year [1]. - Total revenues reached $3.8 billion, exceeding the consensus estimate by 1.6% and growing 2.5% from the previous year [1]. - Adjusted EBITDA for the quarter was $883 million, a 2.4% increase from the year-ago quarter, but slightly below projections [5]. Segment Performance - The Research and Development segment generated revenues of $2.1 billion, showing a marginal increase year-over-year and meeting estimates [3]. - Revenues from the Technology and Analytics segment were $1.5 billion, growing 6.4% year-over-year and meeting estimates [4]. - Contract Sales and Medical Solutions revenues decreased 4.2% year-over-year to $181 million, missing estimates [4]. Cash Flow and Debt - Net cash generated from operating activities was $586 million, with capital expenditures of $142 million, resulting in a free cash flow of $426 million [6]. - The company ended the quarter with cash and cash equivalents of $1.7 billion, unchanged from the previous quarter, while long-term debt increased to $13.1 billion [5]. 2025 Guidance - For 2025, IQVIA raised its revenue guidance to $16.00-$16.40 billion, higher than the previous estimate and the Zacks Consensus Estimate of $15.86 billion [7]. - The company expects adjusted EPS in the range of $11.70-$12.10, with the midpoint exceeding the Zacks Consensus Estimate of $11.84 [7]. - Adjusted EBITDA guidance for 2025 is set at $3.76-$3.88 billion [7].

Q1 2025 Earnings Call May 6, 2025 IQVIA Template (V2.1.0) 100% 50% 75% 25% 1 Legal This presentation should be viewed in conjunction with IQVIA's Q1 2025 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 Securities Exchange Act of 1934, as amended, including, without limitation, our second-quarter a ...

Company Performance - IQVIA Holdings reported quarterly earnings of $2.70 per share, exceeding the Zacks Consensus Estimate of $2.63 per share, and up from $2.54 per share a year ago, representing an earnings surprise of 2.66% [1] - The company posted revenues of $3.83 billion for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 1.55%, compared to $3.74 billion in the same quarter last year [2] - Over the last four quarters, IQVIA has consistently surpassed consensus EPS and revenue estimates [2] Stock Performance - IQVIA shares have declined approximately 22.5% since the beginning of the year, contrasting with the S&P 500's decline of 3.9% [3] - The current Zacks Rank for IQVIA is 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6] Future Outlook - The consensus EPS estimate for the upcoming quarter is $2.80 on revenues of $3.89 billion, and for the current fiscal year, it is $11.84 on revenues of $15.86 billion [7] - The outlook for the Medical - Instruments industry, in which IQVIA operates, is currently in the top 25% of over 250 Zacks industries, suggesting a favorable environment for stock performance [8]