Iqvia Holdings, Inc. · NYSE:IQV
Iqvia — Q2 2020 Earnings Presentation
16 slides from Iqvia's earnings presentation, Jul 22, 2020
Slide 1: Q2 2020 Earnings Call
Q2 2020 Earnings Call July 22, 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: Safe Harbor Statement
Legal This presentation should be viewed in conjunction with IQVIA’s Q2 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 and Estimated COVID-19 Impact
Legal Non-GAAP Information and Estimated COVID-19 Impact 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 pe
Slide 4: Operational update
Operational update R&DS TAS CSMS Positive • Site accessibility improving • Data network access, extraction and • Sales reps returning to the field Signals processing continue to be fully • On-site monitoring visits restarting • No material cancellations, customers operational remain reluctant to mod
Slide 5: 2nd Quarter Results
2nd Quarter Results $M, except per share data Revenue Adjusted EBITDA(1) Adjusted Diluted EPS(1) (7.1)% CFx (16.4)% AFx (22.9)% AFx (8.0)% AFx $2,740 $578 $1.53 $2,521 $483 $1.18 Q2 2020 Q2 2019 Q2 2020 Q2 2019 Q2 2020 Q2 2019 Dollars are at actual foreign exchange rates. AFx is actual currency. CFx
Slide 6: 2nd Quarter and Year-to-Date Revenue
2nd Quarter and Year-to-Date Revenue $M Q2 YTD VPY% VPY% VPY% VPY% 2020 2019 2020 2019 AFx CFx AFx CFx Technology & Analytics $1,109 $1,102 0.6% 2.0% $2,226 $2,177 2.3% 3.7% Solutions Research & $1,235 $1,435 (13.9)% (13.3)% $2,676 $2,851 (6.1)% (5.5)% Development Solutions Contract Sales & $177 $20
Slide 7: 2nd Quarter and Year-to-Date Profit
2nd Quarter and Year-to-Date Profit $M, except per share data Q2 YTD 2020 2019 2020 2019 Adjusted EBITDA (1) $483 $578 $1,045 $1,165 Net Income $(23) $60 $59 $118 Diluted Earnings per Share $(0.12) $0.30 $0.30 $0.59 Adjusted Net Income (1) $229 $306 $523 $615 Adjusted Diluted Earnings $1.18 $1.53 $2
Slide 8: R&D Solutions Backlog
R&D Solutions Backlog $B as of June 30 +13.5% 20.4 18.0 Q2 19 Q2 20 7 Dollars are at actual foreign exchange rates
Slide 9: 2nd Quarter Balance Sheet and Cash Flow Items and Metrics
2nd Quarter Balance Sheet and Cash Flow Items and Metrics $M Cash & Cash Equivalents $1,109 Gross Debt $12,107 Net Debt $10,998 Gross Leverage Ratio (1) 5.3x Net Leverage Ratio (1) 4.8x Net Cash Provided by Operating Activities $472 Capital Expenditures $142 Free Cash Flow $330 Dollars are at actual
Slide 10: Full-Year 2020 Guidance
Full-Year 2020 Guidance $M, except per share data PRIOR UPDATED Revenue $10,600 - $10,925 $11,000 - $11,100 Adjusted EBITDA $2,200 - $2,300 $2,295 - $2,345 Adjusted Diluted EPS $5.75 - $6.10 $6.10 - $6.30 9 Guidance assumes foreign currency rates at the end of the second quarter remain in effect for
Slide 11: Q3 2020 Guidance
Q3 2020 Guidance $M, except per share data Revenue $2,725 - $2,775 Adjusted EBITDA $564 - $582 Adjusted Diluted EPS $1.47 - $1.55 10 Guidance assumes foreign currency rates at the end of the second quarter remain in effect for the remainder of the third quarter
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 Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Net (Loss) Income Attributable to IQVIA Holdings Inc. $ (23) $ 60 $ 59 $ 118 (Benefit from) provision for income taxes (5) 8 12 49 Depreciation and amortization 308 294 624 589 I
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 Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Net (Loss) Income Attributable to IQVIA Holdings Inc. $ (23) $ 60 $ 59 $ 118 (Benefit from) provision for income taxes (5) 8 12 49 Purch
Slide 16: Leverage Ratios
Leverage Ratios $M Gross Debt, net of Original Issue Discount, as of June 30, 2020 $ 12,107 Net Debt as of June 30, 2020 $ 10,998 Adjusted EBITDA for the twelve months ended June 30, 2020 $ 2,280 Gross Leverage Ratio (Gross Debt/LTM Adjusted EBITDA) 5.3x Net Leverage Ratio (Net Debt/LTM Adjusted EBI