IQVIA Holdings (NYSE: IQV) reported Q4 EPS of $1.74, $0.02 better than the analyst estimate of $1.72. Revenue for the quarter came in at $2.9 billion versus the consensus estimate of $2.84 billion.

• Revenue of $2,895 million for the fourth quarter and $11,088 million for the full year
• Adjusted EBITDA of $642 million for the fourth quarter and $2,400 million for the full year
• GAAP Diluted Earnings per Share of $0.09 for the fourth quarter and $0.96 for the full year
• Adjusted Diluted Earnings per Share of $1.74 for the fourth quarter, up 16.0 percent year over year, and $6.39 for the full year, up 15.1 percent year over year
• R&D Solutions fourth quarter revenue growth was 8.1 percent at constant currency and 7.5 percent reported; services growth on an organic constant currency basis was 10.0 percent
• R&D Solutions quarterly net book-to-bill ratio was 1.46x; next twelve months revenue from backlog increased to $5.2 billion
• Technology & Analytics Solutions fourth quarter revenue growth was 9.0 percent at constant currency and 7.7 percent reported; growth on an organic constant currency basis was 7.4 percent

“We closed 2019 with a strong quarter, and again delivered results at, or above, our financial targets,” said Ari Bousbib, chairman and CEO of IQVIA. “Technology & Analytics Solutions added more significant wins in the quarter, including a landmark deal for OCE deployment in the U.S. R&DS continued its strong momentum, with outstanding new business wins and double-digit organic services growth in the quarter. We are also pleased with the ongoing turnaround of CSMS. As we exit the final year of our three-year merger integration, our continued investments in innovation position us well to support our top line growth in 2020 and beyond.”

GUIDANCE:

IQVIA Holdings sees Q1 2020 EPS of $1.59-$1.65, versus the consensus of $1.72. IQVIA Holdings sees Q1 2020 revenue of $2.79-2.84 billion, versus the consensus of $2.87 billion.

IQVIA Holdings sees FY2020 EPS of $7.15-$7.35, versus the consensus of $7.25. IQVIA Holdings sees FY2020 revenue of $11.775-12 billion, versus the consensus of $11.84 billion.

• IQVIA expects full-year 2020 revenue between $11,775 million and $12,000 million, Adjusted EBITDA between $2,565 million and $2,620 million and Adjusted Diluted Earnings per Share between $7.15 and $7.35. The company has evaluated to the best of its ability the potential impact of the coronavirus outbreak, and this guidance includes an estimated revenue impact of $25 million, most of which is expected to drop to profit and all of which is assumed to occur in the first quarter. IQVIA expects first-quarter 2020 revenue between $2,790 million and $2,840 million, Adjusted EBITDA between $595 million and $610 million and Adjusted Diluted Earnings per Share between $1.59 and $1.65.
• Full-year and first-quarter financial guidance assumes foreign currency exchange rates as of February 7, 2020, remain in effect for the remainder of the year. The strengthening of the U.S. Dollar since January 1, 2020 represented a headwind of approximately $80 million to full-year 2020 revenue and approximately $20 million to first-quarter 2020 revenue, which are included in the above guidance.

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