Iqvia Holdings, Inc. · NYSE:IQV
Iqvia — Q2 2024 Earnings Presentation
15 slides from Iqvia's earnings presentation, Jul 22, 2024
Slide 1: Q2 2024 Earnings Call
Q2 2024 Earnings Call July 22, 2024 1
Slide 2: Legal: Safe Harbor Statement
Legal This presentation should be viewed in conjunction with IQVIA’s Q2 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: 2nd Quarter Results
2nd Quarter Results $M, except per share data Revenue Adjusted EBITDA(1) Adjusted Diluted EPS(1) 2.3% AFx 3.5% CFx 2.7% AFx 8.6% AFx $3,814 $3,728 $887 $2.64 $864 $2.43 Q2 2024 Q2 2023 Q2 2024 Q2 2023 Q2 2024 Q2 2023 Dollars are at actual foreign exchange rates. AFx is actual currency. CFx is consta
Slide 5: 2nd Quarter and Year-to-Date Revenue
2nd Quarter and Year-to-Date Revenue $M Q2 YTD VPY% VPY% VPY% VPY% 2024 2023 2024 2023 AFx CFx AFx CFx Technology & Analytics $1,495 $1,456 2.7% 3.8% $2,948 $2,900 1.7% 2.4% Solutions Research & Development $2,147 $2,096 2.4% 3.3% $4,242 $4,122 2.9% 3.6% Solutions Contract Sales & Medical $172 $176
Slide 6: 2nd Quarter and Year-to-Date Profit
2nd Quarter and Year-to-Date Profit $M, except per share data Q2 YTD 2024 2023 2024 2023 Adjusted EBITDA (1) $887 $864 $1,749 $1,715 Net Income $363 $297 $651 $586 Diluted Earnings per Share $1.97 $1.59 $3.53 $3.12 Adjusted Net Income (1) $487 $454 $955 $916 Adjusted Diluted Earnings per $2.64 $2.43
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) +7.7% AFx $30.6 +6.9% $7.8 +8.1% CFx $28.4 $7.3 Q2 2023 Q2 2024 Q2 2023 Q2 2024 Dollars are at actual foreign exchange rates. AFx is actual currency. CFx is constant currency (1) Next Twelve Months Revenue
Slide 8: 2nd Quarter Balance Sheet and Cash Flow Items and Metrics
2nd Quarter Balance Sheet and Cash Flow Items and Metrics $M Cash & Cash Equivalents $1,545 Gross Debt $13,258 Net Debt $11,713 Gross Leverage Ratio (1) 3.68x Net Leverage Ratio (1) 3.25x Net Cash Provided by Operating Activities $588 Capital Expenditures $143 Free Cash Flow (2) $445 Dollars are at
Slide 9: Full-Year 2024 Guidance
Full-Year 2024 Guidance $M, except per share data Revenue $15,425 – $15,525 Adj. EBITDA $3,705 – $3,765 Adj. Diluted EPS $11.10 – $11.30 All financial guidance assumes July 18, 2024 foreign exchange rates remain in effect for the guidance period. 9
Slide 10: Q3 2024 Guidance
Q3 2024 Guidance $M, except per share data Revenue $3,830 – $3,880 Adj. EBITDA $925 – $950 Adj. Diluted EPS $2.76 – $2.86 All financial guidance assumes July 18, 2024 foreign exchange rates remain in effect for the guidance period. 10
Slide 11: <x 0&3 C
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Slide 12: Net Income to Adjusted EBITDA Reconciliation
Net Income to Adjusted EBITDA Reconciliation Three Months Ended June 30, Six Months Ended June 30, (in millions) 2024 2023 2024 2023 Net Income $ 363 $ 297 $ 651 $ 586 Provision for income taxes 75 81 124 152 Depreciation and amortization 269 259 533 512 Interest expense, net 151 165 306 300 (Income
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 June 30, Six Months Ended June 30, (in millions, except per share data) 2024 2023 2024 2023 Net Income $ 363 $ 297 $ 651 $ 586 Provision for income taxes 75 81 124 152 Purchase accounting amortization (1) 133 132 262
Slide 14: Operating Cash Flow to Free Cash Flow Reconciliation
Operating Cash Flow to Free Cash Flow Reconciliation Three Months Ended Six Months Ended (in millions) June 30, 2024 June 30, 2024 Net Cash provided by Operating Activities $ 588 $ 1,110 Acquisition of property, equipment and software (143) (288) Free Cash Flow $ 445 $ 822 14
Slide 15: Leverage Ratios
Leverage Ratios (in millions) Gross Debt, net of Unamortized Discount and Debt Issuance Costs, as of June 30, 2024 $ 13,258 Net Debt as of June 30, 2024 $ 11,713 Adjusted EBITDA for the twelve months ended June 30, 2024 $ 3,603 Gross Leverage Ratio (Gross Debt/LTM Adjusted EBITDA) 3.68x Net Leverage