UPDATE: IQVIA Holdings (IQV) Tops Q3 EPS by 11c, Revenues Beat; Raises FY20 EPS/Revenue Guidance Above Consensus, Provides 4Q & FY21 EPS/Revenue Outlook
IQVIA Holdings (NYSE: IQV) reported Q3 EPS of $1.63, $0.11 better than the analyst estimate of $1.52. Revenue for the quarter came in at $2.79 billion versus the consensus estimate of $2.75 billion.
- Third quarter revenue of $2,786 million and Adjusted EBITDA of $604 million
- GAAP Diluted Earnings per Share of $0.52 and Adjusted Diluted Earnings per Share of $1.63
- Technology & Analytics Solutions revenue grew 10.2 percent reported and 9.2 percent on a constant currency basis
- R&D Solutions quarterly net book-to-bill ratio was 1.71x; next twelve months revenue from backlog increased over $400 million to $5.8 billion
- Full-year 2020 guidance raised for revenue, Adjusted EBITDA and Adjusted Diluted EPS
- Full-year 2021 outlook for revenue $12,300 million to $12,600 million, Adjusted EBITDA $2,725 million to $2,800 million and Adjusted Diluted EPS $7.65 to $7.95
- Company to resume share repurchase program
GUIDANCE:
IQVIA Holdings sees Q4 2020 EPS of $1.93-$2.03, versus the consensus of $1.97. IQVIA Holdings sees Q4 2020 revenue of $3.04-3.19 billion, versus the consensus of $3.02 billion.
IQVIA Holdings sees FY2020 EPS of $6.25-$6.35, versus the consensus of $6.18. IQVIA Holdings sees FY2020 revenue of $11.1-11.25 billion, versus the consensus of $11.05 billion.
IQVIA Holdings sees FY2020 EPS of $7.65-$7.95, versus the consensus of $7.57. IQVIA Holdings sees FY2020 revenue of $12.3-12.3 billion, versus the consensus of $12.24 billion.
Full-Year 2021 Outlook
For the full year of 2021, the company expects revenue of between $12,300 million and $12,600 million, Adjusted EBITDA of between $2,725 million and $2,800 million, and Adjusted Diluted Earnings per Share of between $7.65 and $7.95. The company will provide more detailed full-year 2021 guidance on its fourth quarter earnings results call in mid-February 2021.
The company has developed this outlook based on the general assumption of continued recovery and return to normal business conditions in 2021. The company further assumes that there will not be another global wave of COVID-19 infection that would lead to public health policy decisions that could cause widespread business and healthcare disruptions, hampering the progress of sites reopening, patients returning to trials or other face-to-face interactions that are important to our business.
All financial guidance assumes foreign currency exchange rates at September 30, 2020 remain in effect for the periods forecasted.
For earnings history and earnings-related data on IQVIA Holdings (IQV) click here.