Iqvia Holdings, Inc. · NYSE:IQV
Iqvia — Q3 2022 Earnings Presentation
15 slides from Iqvia's earnings presentation, Oct 26, 2022
Slide 1: Q3 2022 Earnings Call
Q3 2022 Earnings Call October 26, 2022 © 2022. All rights reserved. IQVIA® is a registered trademark of IQVIA Inc. in the United States, the European Union, and various other countries.
Slide 2: Legal: Safe Harbor Statement
Legal This presentation should be viewed in conjunction with IQVIA’s Q3 2022 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, and Free Cash Flow. N
Slide 4: 3rd Quarter Results
3rd Quarter Results $M, except per share data Revenue Adjusted EBITDA(1) Adjusted Diluted EPS(1) 5.0% AFx 11.8% AFx 14.3% AFx 10.5% CFx $3,562 $814 $2.48 $3,391 $728 $2.17 Q3 2022 Q3 2021 Q3 2022 Q3 2021 Q3 2022 Q3 2021 Dollars are at actual foreign exchange rates. AFx is actual currency. CFx is con
Slide 5: 3rd Quarter and Year-to-Date Revenue
3rd Quarter and Year-to-Date Revenue $M Q3 YTD VPY% VPY% VPY% VPY% 2022 2021 2022 2021 AFx CFx AFx CFx Technology & Analytics $1,400 $1,337 4.7% 11.6% $4,247 $4,038 5.2% 10.3% Solutions Research & $1,979 $1,853 6.8% 10.7% $5,863 $5,612 4.5% 7.1% Development Solutions Contract Sales & $183 $201 (9.0%
Slide 6: 3rd Quarter and Year-to-Date Profit
3rd Quarter and Year-to-Date Profit $M, except per share data Q3 YTD 2022 2021 2022 2021 Adjusted EBITDA (1) $814 $728 $2,426 $2,194 Net Income $283 $261 $864 $648 Diluted Earnings per Share $1.49 $1.34 $4.52 $3.32 Adjusted Net Income (1) $470 $423 $1,413 $1,264 Adjusted Diluted Earnings $2.48 $2.17
Slide 7: R&D Solutions Backlog and NTM Revenue
R&D Solutions Backlog and NTM Revenue $B Backlog Next Twelve Months Revenue +5.4% AFx +2.8% AFx +9.4% CFx $25.8 $6.9 +6.7% CFx $7.1 $24.4 Q3 2021 Q3 2022 Q3 2021 Q3 2022 Dollars are at actual foreign exchange rates. AFx is actual currency. CFx is constant currency. NTM: Next Twelve Months 6
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 $1,274 Gross Debt $12,394 Net Debt $11,120 Gross Leverage Ratio (1) 3.81x Net Leverage Ratio (1) 3.42x Net Cash Provided by Operating Activities $863 Capital Expenditures $165 Free Cash Flow (2) $698 Dollars are at
Slide 9: Full-Year 2022 Guidance
Full-Year 2022 Guidance $M, except per share data Updated Prior Guidance Guidance Revenue $14,325 - $14,425 $14,400 - $14,550 VPY% CFX (1) 7.4% - 8.2% 7.4% - 8.5% VPY% 3.2% - 4.0% 3.8% - 4.9% Adjusted EBITDA $3,330 - $3,360 $3,345 - $3,395 VPY% 10.2% - 11.2% 10.7% - 12.3% Adjusted Diluted EPS $10.10
Slide 10: Q4 2022 Guidance
Q4 2022 Guidance $M, except per share data Guidance Revenue $3,654 - $3,754 VPY% CFX (1) 5.5% - 8.2% VPY% 0.5% - 3.2% Adjusted EBITDA $904 - $934 VPY% 9.2% - 12.8% Adjusted Diluted EPS $2.72 - $2.82 VPY% 6.7% - 10.6% (1) Assumes 2022 foreign currency exchange rates consistent with 2021. All financia
Slide 11: Q&A
Q&A 10
Slide 12: Net Income to Adjusted EBITDA Reconciliation
Net Income to Adjusted EBITDA Reconciliation 11
Slide 13: Net Income to Adj. Net Income and Per Share Data Reconciliation
Net Income to Adj. Net Income and Per Share Data Reconciliation (1) Reflects all the amortization of acquired intangible assets. (2) Reflects the portion of Q2 Solutions' after-tax non-GAAP adjustments attributable to the minority interest partner. 12
Slide 14: Operating Cash Flow to Free Cash Flow Reconciliation
Operating Cash Flow to Free Cash Flow Reconciliation 13
Slide 15: Leverage Ratios
Leverage Ratios (in millions) Gross Debt, net of Unamortized Discount and Debt Issuance Costs, as of September 30, 2022 $ 12,394 Net Debt as of September 30, 2022 $ 11,120 Adjusted EBITDA for the twelve months ended September 30, 2022 $ 3,254 Gross Leverage Ratio (Gross Debt/LTM Adjusted EBITDA) 3.8