IQVIA Earnings & Revenues Surpass Estimates in Q3, Increase Y/Y

Core Insights - IQVIA Holdings Analytics Inc. reported strong third-quarter 2024 results, with adjusted earnings of $2.8 per share, exceeding the Zacks Consensus Estimate by 1.1% and reflecting a year-over-year increase of 14.1% [1] - Total revenues reached $3.9 billion, surpassing the consensus estimate by 1.1% and growing 4.3% compared to the same quarter last year [1] Revenue Breakdown - The Research and Development segment generated revenues of $2.2 billion, a 1.9% increase year-over-year, meeting estimates [2] - Revenues from the Technology and Analytics segment were $1.6 billion, an 8.6% increase from Q3 2023, beating the estimate of $1.5 billion [3] - Contract Sales & Medical Solutions revenues decreased by 1.6% year-over-year to $180 million, missing expectations of $182.9 million [3] Financial Metrics - Adjusted EBITDA for Q3 2024 was $939 million, a 5.7% increase from the previous year, exceeding projections [4] - The company ended the quarter with cash and cash equivalents of $1.6 billion, up from $1.5 billion in the previous quarter, while long-term debt increased to $12.3 billion from $12.1 billion [4] Cash Flow and Capital Expenditure - Net cash generated from operating activities was $721 million, with capital expenditure at $150 million, resulting in a free cash flow of $571 million for the quarter [5] 2024 Guidance - IQVIA revised its 2024 revenue guidance to $15.35-$15.40 billion, down from the previous range of $15.43-$15.53 billion, with the Zacks Consensus Estimate at $15.46 billion [6] - Adjusted EPS guidance was updated to $11.10-$11.20, lower than the previous range and below the Zacks Consensus Estimate of $11.17 [7] - Adjusted EBITDA guidance was also reduced to $3.67-$3.70 billion from $3.71-$3.77 billion [7]