Iqvia Holdings, Inc. · NYSE:IQV
Iqvia — QuintilesIMS — Q3 2017 Earnings Presentation
16 slides from Iqvia's earnings presentation, Oct 26, 2017
Slide 1: QuintilesIMS Q3 2017 Earnings Call
QuintilesIMS Q3 2017 Earnings Call October 26, 2017 Copyright © 2016 QuintilesIMS. All rights reserved.
Slide 2: Legal
Legal This presentation should be viewed in conjunction with QuintilesIMS’s Q3 2017 earnings call Safe Harbor Statement This presentation contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Sect
Slide 3: 3rd Quarter Results: Assumes Merger Closed 1/1/2016
3rd Quarter Results: Assumes Merger Closed 1/1/2016 $M Revenue Adjusted EBITDA (1) +4.8% AFx +4.7% AFx +4.3% CFx +4.0% CFx $2,019 $512 $489 $1,926 Q3 2017 Q3 2016 Q3 2017 Q3 2016 Dollars are at actual foreign exchange rates. AFx is actual currency, CFx is constant currency; revenue does not include
Slide 4: 3rd Quarter Revenue
3rd Quarter Revenue $M Assumes Merger Closed 1/1/16 Quintiles Standalone VPY% VPY% VPY% VPY% 2017 2016 (1) 2016 (2) AFx CFx Afx CFx R&D Solutions $938 $874 7.3% 6.9% $869 7.9% 7.5% Commercial Solutions $887 $853 4.0% 2.9% $72 1,134% 1,134% Integrated $194 $198 (2.3)% (1.1)% $196 (1.0)% 0.0% Engageme
Slide 5: 3rd Quarter 2017 Profit
3rd Quarter 2017 Profit $M, except per share data Adjusted EBITDA (1) $512 Adjusted EBITDA Margin 25.3% Net Income $84 Diluted Earnings per Share $0.38 Adjusted Net Income (1) $260 Adjusted Diluted Earnings per Share (1) $1.19 Dollars are at actual foreign exchange rates. (1) See reconciliations of
Slide 6: Year-to-date Revenue
Year-to-date Revenue $M Assumes Merger Closed 1/1/16 Quintiles Standalone VPY% VPY% VPY% VPY% 2017 2016 (2) 2016 (3) AFx CFx AFx CFx R&D Solutions $2,700 $2,607 3.6% 4.3% $2,591 4.2% 4.9% Commercial Solutions $2,611 $2,558 2.1% 2.5% $218 1,100% 1,100% Integrated $596 $610 (2.3)% (1.2)% $603 (1.2)% 0
Slide 7: Net New Business and Backlog on a Contracted Basis
Net New Business and Backlog on a Contracted Basis $B LTM Net New Business $4.37 LTM Book-to-Bill 1.22x LTM Backlog Coverage (1) 2.88x Backlog as of 9/30/2017 $10.32 NTM Backlog Estimated to be Converted to Revenue ~$3.0 Dollars are at actual foreign exchange rates; LTM: Last twelve months; NTM: Nex
Slide 8: Contracted Backlog
Contracted Backlog $B 10.32 9.99 9.66 9.5 Q4 2016 Q1 2017 Q2 2017 Q3 2017 7
Slide 9: Year-to-date 2017 Profit
Year-to-date 2017 Profit $M, except per share data Adjusted EBITDA (1) $1,465 Adjusted EBITDA Margin 24.8% Net Income $233 Diluted Earnings per Share $1.04 Adjusted Net Income (1) $739 Adjusted Diluted Earnings per Share (1) $3.28 Dollars are at actual foreign exchange rates. (1) See reconciliations
Slide 10: 3rd Quarter 2017 Balance Sheet Items & Metrics
3rd Quarter 2017 Balance Sheet Items & Metrics $M Cash & Cash Equivalents $1,103 Principal Balance of Debt (1) $9,800 Gross Leverage Ratio (2) 4.9x Net Leverage Ratio (2) 4.3x Net Cash Provided by Operating Activities $436 Capital Expenditures $(89) Free Cash Flow $347 Dollars are at actual foreign
Slide 11: 4th Quarter 2017 Guidance
4th Quarter 2017 Guidance $M, except per share data Revenue 2,120 – 2,160 Adjusted EBITDA 560 – 585 Adjusted Diluted EPS 1.28 – 1.37 Dollars are at actual foreign exchange rates, revenue does not include reimbursed expense revenue. Guidance assumes current exchange rates remain unchanged to the end
Slide 12: Q) QuintilesIMS”
Q) QuintilesIMS” 11
Slide 13: Appendix
Q) QuintilesIMS” 12
Slide 14: Net Income to Adjusted EBITDA
Net Income to Adjusted EBITDA $M, Combined Company as if Merger Closed 1/1/2016 Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Net Income $ 84 $ 153 $ 233 $ 414 Provision for income taxes — 52 5 159 Depreciation and amortization 256 124 733 363 Interest expense,
Slide 15: Net Income to Adjusted Net Income & Per Share Data
Net Income to Adjusted Net Income & Per Share Data $M, except per share data Three Months Nine Months Ended Ended September 30, 2017 September 30, 2017 Net Income $ 84 $ 233 Provision for income taxes — 5 Purchase accounting amortization 193 553 Income in unconsolidated affiliates (4) (7) Income fro
Slide 16: Leverage Ratios
Leverage Ratios $M Gross Debt as of September 30, 2017 $ 9,800 Net Debt as of September 30, 2017 $ 8,697 (1) Adjusted EBITDA for the twelve months ended September 30, 2017 $ 2,006 Gross Leverage Ratio (Gross Debt/LTM Adjusted EBITDA) 4.9x Net Leverage Ratio (Net Debt/LTM Adjusted EBITDA) 4.3x (1) LT