Iqvia Holdings, Inc. · NYSE:IQV
Iqvia — Q1 2022 Earnings Presentation
15 slides from Iqvia's earnings presentation, Apr 27, 2022
Slide 1: Q1 2022 Earnings Call
Q1 2022 Earnings Call April 27, 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 Q1 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: 1st Quarter Results
1st Quarter Results $M, except per share data Revenue Adjusted EBITDA (1) Adjusted Diluted EPS (1) 4.7% AFx 9.1% AFx 13.3% AFx 6.8% CFx $3,568 $812 $2.47 $3,409 $744 $2.18 Q1 2022 Q1 2021 Q1 2022 Q1 2021 Q1 2022 Q1 2021 Dollars are at actual foreign exchange rates. AFx is actual currency. CFx is con
Slide 5: 1st Quarter Revenue
1st Quarter Revenue $M 2022 2021 VPY% AFx VPY% CFx Technology & Analytics Solutions $1,439 $1,348 6.8% 9.8% Research & Development Solutions $1,934 $1,868 3.5% 4.7% Contract Sales & Medical Solutions $195 $193 1.0% 5.7% Revenue $3,568 $3,409 4.7% 6.8% Dollars are at actual foreign exchange rates. AF
Slide 6: 1st Quarter Profit
1st Quarter Profit $M, except per share data 2022 2021 Adjusted EBITDA (1) $812 $744 Net Income $325 $212 Diluted Earnings per Share $1.68 $1.09 Adjusted Net Income (1) $477 $425 Adjusted Diluted Earnings per $2.47 $2.18 Share (1) Dollars are at actual foreign exchange rates. (1) See reconciliations
Slide 7: R&D Solutions Backlog and NTM Revenue
R&D Solutions Backlog and NTM Revenue $B Backlog Next Twelve Months Revenue +9.1% $25.3 +8.0% $7.0 $23.2 $6.5 Q1 2021 Q1 2022 Q1 2021 Q1 2022 Dollars are at actual foreign exchange rates. NTM: Next Twelve Months 6
Slide 8: 1st Quarter Balance Sheet and Cash Flow Items and Metrics
1st Quarter Balance Sheet and Cash Flow Items and Metrics $M Cash & Cash Equivalents $1,387 Gross Debt $12,637 Net Debt $11,250 Gross Leverage Ratio (1) 4.09x Net Leverage Ratio (1) 3.64x Net Cash Provided by Operating Activities $508 Capital Expenditures $177 Free Cash Flow (2) $331 Dollars are at
Slide 9: Full-Year 2022 Guidance
Full-Year 2022 Guidance $M, except per share data Updated Guidance Revenue $14,450 - $14,750 VPY% CFX (1) 6.9% - 9.0% VPY% 4.2% - 6.3% Adjusted EBITDA $3,330 - $3,405 VPY% 10.2% - 12.7% Adjusted Diluted EPS $9.95 – $10.25 VPY% 10.2% - 13.5% (1) Assumes 2022 foreign currency exchange rates consistent
Slide 10: Q2 2022 Guidance
Q2 2022 Guidance $M, except per share data Guidance Revenue $3,470 - $3,520 VPY% CFX (1) 4.5% - 6.0% VPY% 0.9% - 2.4% Adjusted EBITDA $790 - $805 VPY% 9.4% - 11.5% Adjusted Diluted EPS $2.35 - $2.42 VPY% 10.3% - 13.6% (1) Assumes 2022 foreign currency exchange rates consistent with 2021. All financi
Slide 11: Q&A
Q&A 10
Slide 12: Net Income to Adjusted EBITDA Reconciliation
Net Income to Adjusted EBITDA Reconciliation Three Months Ended March 31, (in millions) 2022 2021 Net Income Attributable to IQVIA Holdings Inc. $ 325 $ 212 Provision for income taxes 71 44 Depreciation and amortization 255 323 Interest expense, net 85 98 Loss (income) in unconsolidated affiliates 4
Slide 13: 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 March 31, (in millions, except per share data) 2022 2021 Net Income Attributable to IQVIA Holdings Inc. $ 325 $ 212 Provision for income taxes 71 44 Purchase accounting amortization (1) 134 225 Loss (income) in uncons
Slide 14: Operating Cash Flow to Free Cash Flow Reconciliation
Operating Cash Flow to Free Cash Flow Reconciliation Three Months Ended March 31, (in millions) 2022 Net Cash provided by Operating Activities $ 508 Acquisition of property, equipment and software (177) Free Cash Flow $ 331 13
Slide 15: Leverage Ratios
Leverage Ratios (in millions) Gross Debt, net of Original Issue Discount, as of March 31, 2022 $ 12,637 Net Debt as of March 31, 2022 $ 11,250 Adjusted EBITDA for the twelve months ended March 31, 2022 $ 3,090 Gross Leverage Ratio (Gross Debt/LTM Adjusted EBITDA) 4.1x Net Leverage Ratio (Net Debt/LT