Iqvia Holdings, Inc. · NYSE:IQV
Iqvia — Q2 2021 Earnings Presentation
16 slides from Iqvia's earnings presentation, Jul 27, 2021
Slide 1: Q2 2021 Earnings Call
Q2 2021 Earnings Call July 27, 2021 © 2021. 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 Q2 2021 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, and Adjusted Diluted Earnings per Share. Non-GAAP financia
Slide 4: 2nd Quarter Results
2nd Quarter Results $M, except per share data Revenue Adjusted EBITDA(1) Adjusted Diluted EPS(1) 36.4% AFx 49.5% AFx 80.5% AFx 33.2% CFx $3,438 $722 $2.13 $2,521 $483 $1.18 Q2 2021 Q2 2020 Q2 2021 Q2 2020 Q2 2021 Q2 2020 Dollars are at actual foreign exchange rates. AFx is actual currency. CFx is co
Slide 5: 2nd Quarter and Year-to-Date Revenue
2nd Quarter and Year-to-Date Revenue $M Q2 YTD VPY% VPY% VPY% VPY% 2021 2020 2021 2020 AFx CFx AFx CFx Technology & Analytics $1,353 $1,109 22.0% 17.9% $2,701 $2,226 21.3% 17.5% Solutions Research & $1,891 $1,235 53.1% 50.7% $3,759 $2,676 40.5% 38.5% Development Solutions Contract Sales & $194 $177
Slide 6: 2nd Quarter and Year-to-Date Profit
2nd Quarter and Year-to-Date Profit $M, except per share data Q2 YTD 2021 2020 2021 2020 Adjusted EBITDA (1) $722 $483 $1,466 $1,045 Net Income $175 $(23) $387 $59 Diluted Earnings per Share $0.90 $(0.12) $1.99 $0.30 Adjusted Net Income (1) $416 $229 $841 $523 Adjusted Diluted Earnings $2.13 $1.18 $
Slide 7: R&D Solutions Backlog and NTM Revenue
R&D Solutions Backlog and NTM Revenue $B Backlog Next Twelve Months Revenue +16.7% $23.9 $6.6 +19.6% $20.4 $5.5 Q2 2020 Q2 2021 Q2 2020 Q2 2021 Dollars are at actual foreign exchange rates. NTM: Next Twelve Months 6
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 $1,807 Gross Debt $12,287 Net Debt $10,480 Gross Leverage Ratio (1) 4.38x Net Leverage Ratio (1) 3.74x Net Cash Provided by Operating Activities $539 Capital Expenditures $145 Free Cash Flow $394 Dollars are at actu
Slide 9: Full-Year 2021 Guidance
Full-Year 2021 Guidance $M, except per share data Updated Guidance Prior Guidance July 27 April 22 Revenue $13,550 - $13,700 $13,200 - $13,500 VPY%(1) 19.3% - 20.6% 16.2% - 18.8% Adjusted EBITDA $2,950 - $3,000 $2,900 - $2,965 VPY%(1) 23.7% - 25.8% 21.6% - 24.4% Adjusted Diluted EPS $8.70 - $8.90 $8
Slide 10: Q3 2021 Guidance
Q3 2021 Guidance $M, except per share data Guidance VPY%(1) Revenue $3,290 – $3,365 18.1% – 20.8% Adjusted EBITDA $710 – $730 17.5% – 20.9% Adjusted Diluted EPS $2.06 – $2.13 26.4% – 30.7% (1) Growth rates are at actual foreign currency exchange rates All financial guidance assumes June 30th foreign
Slide 11: Q&A
Q&A 10
Slide 12: Appendix
SIQVIA Appendix
Slide 13: Net Income to Adjusted EBITDA Reconciliation
Net Income to Adjusted EBITDA Reconciliation $M Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Net Income (Loss) Attributable to IQVIA Holdings Inc. $ 175 $ (23) $ 387 $ 59 Provision for (benefit from) income taxes 48 (5) 92 12 Depreciation and amortization 343 308 666 624
Slide 14: Net Income to Adj. Net Income and Per Share Data Reconciliation
Net Income to Adj. Net Income and Per Share Data Reconciliation $M, except per share data Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Net Income (Loss) Attributable to IQVIA Holdings Inc. $ 175 $ (23) $ 387 $ 59 Provision for (benefit from) income taxes 48 (5) 92 12 Pur
Slide 15: Leverage Ratios
Leverage Ratios $M Gross Debt, net of Original Issue Discount, as of June 30, 2021 $ 12,287 Net Debt as of June 30, 2021 $ 10,480 Adjusted EBITDA for the twelve months ended June 30, 2021 $ 2,805 Gross Leverage Ratio (Gross Debt/LTM Adjusted EBITDA) 4.4x Net Leverage Ratio (Net Debt/LTM Adjusted EBI
Slide 16: Operating Cash Flow to Free Cash Flow Reconciliation
Operating Cash Flow to Free Cash Flow Reconciliation $M Three Months Six Months Ended June 30, Ended June 30, 2021 2021 Net Cash provided by Operating Activities $ 539 $ 1,406 Acquisition of property, equipment and software (145) (294) Free Cash Flow $ 394 $ 1,112 15