Iqvia Holdings, Inc. · NYSE:IQV
Iqvia — Q2 2018 Earnings Presentation
17 slides from Iqvia's earnings presentation, Jul 24, 2018
Slide 1: Q2 2018 Earnings Call
Q2 2018 Earnings Call July 24, 2018 Copyright © 2017 IQVIA. All rights reserved.
Slide 2: Legal
Legal This presentation should be viewed in conjunction with IQVIA’s Q2 2018 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: 2nd Quarter Results
2nd Quarter Results $M, except per share data Revenue Adjusted EBITDA Adjusted Diluted EPS +9.0% AFx +14.1% AFx +25.2% AFx +7.7% CFx +14.3% CFx $1.29 $533 $2,567 $2,355 $467 $1.03 Q2 2018 Q2 2017 Q2 2018 Q2 2017 Q2 2018 Q2 2017 Dollars are at actual foreign exchange rates. AFx is actual currency, CF
Slide 4: 2nd Quarter Revenue
2nd Quarter Revenue $M 2018 2017 VPY% AFx VPY% CFx Technology & Analytics $1,011 $885 14.2% 13.1% Solutions Research & Development $1,350 $1,232 9.6% 8.3% Solutions Contract Sales & Medical $206 $238 (13.4)% (15.1)% Solutions Revenue $2,567 $2,355 9.0% 7.7% Dollars are at actual foreign exchange rat
Slide 5: 2nd Quarter Profit
2nd Quarter Profit $M, except per share data 2018 2017 Adjusted EBITDA (1) $533 $467 Net Income $61 $62 Diluted Earnings per Share $0.29 $0.28 Adjusted Net Income (1) $270 $229 Adjusted Diluted Earnings per Share (1) $1.29 $1.03 Dollars are at actual foreign exchange rates. (1) See reconciliations o
Slide 6: Q2 Year-to-date Revenue
Q2 Year-to-date Revenue $M 2018 2017 VPY% AFx VPY% CFx Technology & Analytics $1,996 $1,748 14.2% 11.2% Solutions Research & Development $2,715 $2,495 8.8% 7.0% Solutions Contract Sales & Medical $419 $472 (11.2)% (14.0)% Solutions Revenue $5,130 $4,715 8.8% 6.5% Dollars are at actual foreign exchan
Slide 7: R&D Solutions LTM Contracted Services Net New Business
R&D Solutions LTM Contracted Services(1) Net New Business VPY% +21.1% +15.7% +5.6% (0.7)% LTM Q3 2017 LTM Q4 2017 LTM Q1 2018 LTM Q2 2018 LTM: Last twelve months. 6 (1) Services Net New Business excludes reimbursed expenses (i.e. pass through).
Slide 8: R&D Solutions ASC 606 Backlog
R&D Solutions ASC 606 Backlog $B Backlog as of 06/30/2018 $15.73 LTM Backlog Coverage (1) 2.95x NTM Backlog Estimated to be Converted to Revenue ~$4.6 Dollars are at actual foreign exchange rates. LTM: Last twelve months; NTM: Next twelve months. 7 (1) Backlog coverage is defined as R&D Solutions ba
Slide 9: Q2 Year-to-date Profit
Q2 Year-to-date Profit $M, except per share data 2018 2017 Adjusted EBITDA (1) $1,080 $971 Net Income $130 $162 Diluted Earnings per Share $0.62 $0.71 Adjusted Net Income (1) $555 $493 Adjusted Diluted Earnings per Share (1) $2.63 $2.16 Dollars are at actual foreign exchange rates. (1) See reconcili
Slide 10: Q2 Balance Sheet and Cash Flow Items and Metrics
Q2 Balance Sheet and Cash Flow Items and Metrics $M Cash & Cash Equivalents $879 Debt $10,728 Gross Leverage Ratio (1) 5.1x Net Leverage Ratio (1) 4.6x Net Cash Provided by Operating Activities $311 Capital Expenditures $(110) Free Cash Flow $201 Dollars are at actual foreign exchange rates. 9 (1) C
Slide 11: Full-Year 2018 Guidance
Full-Year 2018 Guidance $M, except per share data July 24 May 2 February 14 Revenue $10,250 - $10,400 $10,050 - $10,250 $10,000 - $10,200 VPY% 5.6% - 7.2% 3.6% - 5.6% 3.1% - 5.1% Adjusted EBITDA $2,170 - $2,230 $2,150 - $2,220 $2,150 - $2,220 VPY% 8.0% - 10.9% 7.0% - 10.4% 7.0% - 10.4% Adjusted Dilu
Slide 12: Q3 2018 Guidance
Q3 2018 Guidance $M, except per share data 2017 Recast 2018 Guidance VPY% Revenue $2,466 $2,550 - $2,600 3.4% - 5.4% Adjusted EBITDA $513 $540 - $560 5.3% - 9.2% Adjusted Diluted EPS $1.19 $1.35 - $1.42 13.4% - 19.3% Dollars are at actual foreign exchange rates. Guidance assumes current exchange rat
Slide 13: IMS Health & Quintiles are now IQVIA
IMS Health & Quintiles are now VIA 12
Slide 14: Appendix
IMS Health & Quintiles are now VIA = Appendix 13
Slide 15: Net Income to Adjusted EBITDA
Net Income to Adjusted EBITDA $M 14 Numbers may not add to total due to rounding.
Slide 16: Net Income to Adjusted Net Income and Per Share Data
Net Income to Adjusted Net Income and Per Share Data $M, except per share data Numbers may not add to total due to rounding. 15 (1) Reflects the portion of Q2 Solutions' after-tax non-GAAP adjustments attributable to the minority interest partner.
Slide 17: Leverage Ratios
Leverage Ratios $M Gross Debt, net of Original Issue Discount, as of June 30, 2018 $ 10,728 Net Debt as of June 30, 2018 $ 9,849 Adjusted EBITDA for the twelve months ended June 30, 2018 $ 2,119 Gross Leverage Ratio (Gross Debv/LTM Adjusted EBITDA) 6.1x Net Leverage Ratio (Net Debt/LTM Adjusted EBIT