Iqvia Holdings, Inc. · NYSE:IQV
Iqvia — Q3 2020 Earnings Presentation
16 slides from Iqvia's earnings presentation, Oct 20, 2020
Slide 1: Q3 2020 Earnings Call
Q3 2020 Earnings Call October 20, 2020 © 2020. 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
Legal This presentation should be viewed in conjunction with IQVIA’s Q3 2020 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. Non-GAAP financial me
Slide 4: 3rd Quarter Results
3rd Quarter Results $M, except per share data Revenue Adjusted EBITDA(1) Adjusted Diluted EPS(1) 0.6% AFx 1.9% AFx 1.9% AFx (0.1)% CFx $2,786 $2,769 $604 $593 $1.63 $1.60 Q3 2020 Q3 2019 Q3 2020 Q3 2019 Q3 2020 Q3 2019 Dollars are at actual foreign exchange rates. AFx is actual currency. CFx is cons
Slide 5: 3rd Quarter and Year-to-Date Revenue
3rd Quarter and Year-to-Date Revenue $M Q3 YTD VPY% VPY% VPY% VPY% 2020 2019 2020 2019 AFx CFx AFx CFx Technology & Analytics $1,207 $1,095 10.2% 9.2% $3,433 $3,272 4.9% 5.6% Solutions Research & $1,400 $1,466 (4.5)% (5.1)% $4,076 $4,317 (5.6)% (5.4)% Development Solutions Contract Sales & $179 $208
Slide 6: 3rd Quarter and Year-to-Date Profit
3rd Quarter and Year-to-Date Profit $M, except per share data Q3 YTD 2020 2019 2020 2019 Adjusted EBITDA (1) $604 $593 $1,649 $1,758 Net Income $101 $57 $160 $175 Diluted Earnings per Share $0.52 $0.29 $0.82 $0.87 Adjusted Net Income (1) $318 $318 $841 $933 Adjusted Diluted Earnings $1.63 $1.60 $4.3
Slide 7: R&D Solutions Backlog
R&D Solutions Backlog $B as of September 30 +18.5% 21.7 18.3 Q3 2019 Q3 2020 6 Dollars are at actual foreign exchange rates.
Slide 8: 3rd Quarter Balance Sheet and Cash Flow Items and Metrics
3rd Quarter Balance Sheet and Cash Flow Items and Metrics $M Cash & Cash Equivalents $1,464 Gross Debt $12,339 Net Debt $10,875 Gross Leverage Ratio (1) 5.4x Net Leverage Ratio (1) 4.7x Net Cash Provided by Operating Activities $574 Capital Expenditures $157 Free Cash Flow $417 Dollars are at actual
Slide 9: Full-Year 2020 Guidance
Full-Year 2020 Guidance $M, except per share data Updated Prior(1) Revenue $11,100 - $11,250 $11,000 - $11,100 Adjusted EBITDA $2,335 - $2,360 $2,295 - $2,345 Adjusted Diluted EPS $6.25 - $6.35 $6.10 - $6.30 (1) Provided on Q2 2020 earnings call on July 22, 2020. Guidance assumes foreign currency ra
Slide 10: Q4 2020 Guidance
Q4 2020 Guidance $M, except per share data Guidance VPY% Revenue $3,040 - $3,190 5.0% - 10.2% Adjusted EBITDA $685 - $710 6.7% - 10.6% Adjusted Diluted EPS $1.93 - $2.03 10.9% - 16.7% Dollars are at actual foreign exchange rates. 9 Guidance assumes foreign currency rates at the end of the third quar
Slide 11: Full-Year 2021 Outlook
Full-Year 2021 Outlook $M, except per share data Revenue $12,300 - $12,600 VPY% vs. mid-point of 2020 guide 10.1% - 12.8% Adjusted EBITDA $2,725 - $2,800 VPY% vs. mid-point of 2020 guide 16.1% - 19.3% Adjusted Diluted EPS $7.65 - $7.95 VPY% vs. mid-point of 2020 guide 21.4% - 26.2% Adjusted Book Tax
Slide 12: Q&A
Q&A 11
Slide 13: Appendix
SSIOVIA Appendix
Slide 14: Net Income to Adjusted EBITDA Reconciliation
Net Income to Adjusted EBITDA Reconciliation $M 13
Slide 15: 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 (1) Reflects all the amortization of acquired intangible assets. (2) Reflects the portion of Q2 Solutions' after-tax non-GAAP adjustments attributable to the minority interest partner. 14
Slide 16: Leverage Ratios
Leverage Ratios $M Gross Debt, net of Original Issue Discount, as of September 30, 2020 $ 12,339 Net Debt as of September 30, 2020 $ 10,875 Adjusted EBITDA for the twelve months ended September 30, 2020 $ 2,291 Gross Leverage Ratio (Gross Debt/LTM Adjusted EBITDA) 5.4x Net Leverage Ratio (Net Debt/L