Iqvia Holdings, Inc. · NYSE:IQV
Iqvia — Q1 2024 Earnings Presentation
15 slides from Iqvia's earnings presentation, May 2, 2024
Slide 1: Q1 2024 Earnings Call
Q1 2024 Earnings Call May 2, 2024 1
Slide 2: Legal: Safe Harbor Statement for Forward-Looking Statements
Legal This presentation should be viewed in conjunction with IQVIA’s Q1 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: 1st Quarter Results
1st Quarter Results $M, except per share data Revenue Adjusted EBITDA(1) Adjusted Diluted EPS(1) 2.3% AFx 2.9% CFx 1.3% AFx 3.7% AFx $3,737 $3,652 $862 $851 $2.54 $2.45 Q1 2024 Q1 2023 Q1 2024 Q1 2023 Q1 2024 Q1 2023 Dollars are at actual foreign exchange rates. AFx is actual currency. CFx is consta
Slide 5: 1st Quarter Revenue
1st Quarter Revenue $M 2024 2023 VPY% AFx VPY% CFx Technology & Analytics Solutions $1,453 $1,444 0.6% 1.0% Research & Development Solutions $2,095 $2,026 3.4% 3.8% Contract Sales & Medical Solutions $189 $182 3.8% 7.1% Revenue $3,737 $3,652 2.3% 2.9% Dollars are at actual foreign exchange rates. AF
Slide 6: 1st Quarter Profit
1st Quarter Profit $M, except per share data 2024 2023 Adjusted EBITDA (1) $862 $851 Net Income $288 $289 Diluted Earnings per Share $1.56 $1.53 Adjusted Net Income (1) $468 $462 Adjusted Diluted Earnings per $2.54 $2.45 Share (1) Dollars are at actual foreign exchange rates. (1) See reconciliations
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) +7.9% $30.1 +6.1% $7.7 $27.9 $7.3 Q1 2023 Q1 2024 Q1 2023 Q1 2024 Dollars are at actual foreign exchange rates. (1) Next Twelve Months Revenue reflects management’s forecast of the Revenue that will be gene
Slide 8: 1st Quarter Balance Sheet and Cash Flow Items and Metrics
1st Quarter Balance Sheet and Cash Flow Items and Metrics $M Cash & Cash Equivalents $1,444 Gross Debt $13,536 Net Debt $12,092 Gross Leverage Ratio (1) 3.78x Net Leverage Ratio (1) 3.38x Net Cash Provided by Operating Activities $522 Capital Expenditures $145 Free Cash Flow (2) $377 Dollars are at
Slide 9: Full-Year 2024 Guidance
Full-Year 2024 Guidance $M, except per share data Revenue $15,325 – $15,575 Adj. EBITDA $3,700 – $3,800 Adj. Diluted EPS $10.95 – $11.25 All financial guidance assumes April 30, 2024 foreign exchange rates remain in effect for the guidance period. 9
Slide 10: Q2 2024 Guidance
Q2 2024 Guidance $M, except per share data Revenue $3,740 – $3,815 Adj. EBITDA $870 – $890 Adj. Diluted EPS $2.54 – $2.64 All financial guidance assumes April 30, 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 March 31, (in millions) 2024 2023 Net Income $ 288 $ 289 Provision for income taxes 49 71 Depreciation and amortization 264 253 Interest expense, net 155 135 Loss in unconsolidated affiliates 3 2 Stock-based compensation 56 75 Other exp
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 March 31, (in millions, except per share data) 2024 2023 Net Income $ 288 $ 289 Provision for income taxes 49 71 Purchase accounting amortization (1) 129 123 Loss in unconsolidated affiliates 3 2 Stock-based compensat
Slide 14: Operating Cash Flow to Free Cash Flow Reconciliation
Operating Cash Flow to Free Cash Flow Reconciliation Three Months Ended (in millions) March 31, 2024 Net Cash provided by Operating Activities $ 522 Acquisition of property, equipment and software (145) Free Cash Flow $ 377 14
Slide 15: Leverage Ratios
Leverage Ratios (in millions) Gross Debt, net of Unamortized Discount and Debt Issuance Costs, as of March 31, 2024 $ 13,536 Net Debt as of March 31, 2024 $ 12,092 Adjusted EBITDA for the twelve months ended March 31, 2024 $ 3,580 Gross Leverage Ratio (Gross Debt/LTM Adjusted EBITDA) 3.78x Net Lever