Iqvia Holdings, Inc. · NYSE:IQV
Iqvia — Q3 2024 Earnings Presentation
16 slides from Iqvia's earnings presentation, Oct 31, 2024
Slide 1: Q3 2024 Earnings Call
Q3 2024 Earnings Call October 31, 2024 1
Slide 2: Legal: Safe Harbor Statement
Legal This presentation should be viewed in conjunction with IQVIA’s Q3 2024 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 19
Slide 3: Legal: Non-GAAP Information
Legal Non-GAAP Information This presentation includes information based on financial measures that are not recognized under generally accepted accounting principles in the United States (“GAAP”), such as Adjusted EBITDA, Adjusted Net Income, Adjusted Diluted Earnings per Share, Gross Leverage Ratio,
Slide 4: 3rd Quarter Results
3rd Quarter Results $M, except per share data Revenue Adjusted EBITDA(1) Adjusted Diluted EPS(1) 4.3% AFx 4.2% CFx 5.7% AFx 14.1% AFx $3,896 $939 $3,736 $2.84 $888 $2.49 Q3 2024 Q3 2023 Q3 2024 Q3 2023 Q3 2024 Q3 2023 Dollars are at actual foreign exchange rates. AFx is actual currency. CFx is const
Slide 5: 3rd Quarter and Year-to-Date Revenue
3rd Quarter and Year-to-Date Revenue $M Q3 YTD VPY% VPY% VPY% VPY% 2024 2023 2024 2023 AFx CFx AFx CFx Technology & Analytics $1,554 $1,431 8.6% 8.2% $4,502 $4,331 3.9% 4.3% Solutions Research & Development $2,162 $2,122 1.9% 2.0% $6,404 $6,244 2.6% 3.0% Solutions Contract Sales & Medical $180 $183
Slide 6: 3rd Quarter and Year-to-Date Profit
3rd Quarter and Year-to-Date Profit $M, except per share data Q3 YTD 2024 2023 2024 2023 Adjusted EBITDA (1) $939 $888 $2,688 $2,603 Net Income $285 $303 $936 $889 Diluted Earnings per Share $1.55 $1.63 $5.08 $4.76 Adjusted Net Income (1) $523 $462 $1,478 $1,378 Adjusted Diluted Earnings per $2.84 $
Slide 7: R&D Solutions Backlog and Next Twelve Months Revenue
R&D Solutions Backlog and Next Twelve Months Revenue $B Backlog Next Twelve Months Revenue(1) +8.0% $31.1 +5.5% $7.8 $28.8 $7.4 Q3 2023 Q3 2024 Q3 2023 Q3 2024 Dollars are at actual foreign exchange rates. (1) Next Twelve Months Revenue reflects management’s forecast of the Revenue that will be gene
Slide 8: 3rd Quarter Balance Sheet and Cash Flow Items and Metrics
3rd Quarter Balance Sheet and Cash Flow Items and Metrics $M Cash & Cash Equivalents $1,572 Gross Debt $13,512 Net Debt $11,940 Gross Leverage Ratio (1) 3.70x Net Leverage Ratio (1) 3.27x Net Cash Provided by Operating Activities $721 Capital Expenditures $150 Free Cash Flow (2) $571 Dollars are at
Slide 9: Full-Year 2024 Guidance
Full-Year 2024 Guidance $M, except per share data Revenue $15,350 – $15,400 Adj. EBITDA $3,675 – $3,700 Adj. Diluted EPS $11.10 – $11.20 All financial guidance assumes October 30, 2024 foreign exchange rates remain in effect for the guidance period. 9
Slide 10: Full-Year 2024 Segment Revenue Growth Guidance
Full-Year 2024 Segment Revenue Growth Guidance At constant currency, ex COVID-related work TAS ~ 6% R&DS ~ 5% CSMS ~ Flat 10
Slide 11: Q4 2024 Guidance
Q4 2024 Guidance $M, except per share data Revenue $3,903 – $3,953 Adj. EBITDA $987 – $1,012 Adj. Diluted EPS $3.08 – $3.18 All financial guidance assumes October 30, 2024 foreign exchange rates remain in effect for the guidance period. 11
Slide 12: <x 0&3 C
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Slide 13: Net Income to Adjusted EBITDA Reconciliation
Net Income to Adjusted EBITDA Reconciliation Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2024 2023 2024 2023 Net Income $ 285 $ 303 $ 936 $ 889 Provision for income taxes 65 51 189 203 Depreciation and amortization 278 297 811 809 Interest expense, net 157 167 463
Slide 14: Net Income to Adj. Net Income and Per Share Data Reconciliation
Net Income to Adj. Net Income and Per Share Data Reconciliation Three Months Ended Nine Months Ended September 30, September 30, (in millions, except per share data) 2024 2023 2024 2023 Net Income $ 285 $ 303 $ 936 $ 889 Provision for income taxes 65 51 189 203 Purchase accounting amortization (1) 1
Slide 15: Operating Cash Flow to Free Cash Flow Reconciliation
Operating Cash Flow to Free Cash Flow Reconciliation Three Months Ended Nine Months Ended (in millions) September 30, 2024 September 30, 2024 Net Cash provided by Operating Activities $ 721 $ 1,831 Acquisition of property, equipment and software (150) (438) Free Cash Flow $ 571 $ 1,393 15
Slide 16: Leverage Ratios
Leverage Ratios (in millions) Gross Debt, net of Unamortized Discount and Debt Issuance Costs, as of September 30, 2024 $ 13,512 Net Debt as of September 30, 2024 $ 11,940 Adjusted EBITDA for the twelve months ended September 30, 2024 $ 3,654 Gross Leverage Ratio (Gross Debt/LTM Adjusted EBITDA) 3.7