Iqvia Holdings, Inc. · NYSE:IQV
Iqvia — Q1 2019 Earnings Presentation
14 slides from Iqvia's earnings presentation, May 1, 2019
Slide 1: Q1 2019 Earnings Call
Q1 2019 Earnings Call May 1, 2019 Copyright © 2019 IQVIA. All rights reserved.
Slide 2: Legal
Legal This presentation should be viewed in conjunction with IQVIA’s Q1 2019 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: 1st Quarter Results
1st Quarter Results $M, except per share data Revenue Adjusted EBITDA(1) Adjusted Diluted EPS(1) +7.2% CFx +5.3% CFx +14.2% AFx +4.7% AFx +7.3% AFx $1.53 $587 $2,684 $1.34 $2,563 $547 Q1 2019 Q1 2018 Q1 2019 Q1 2018 Q1 2019 Q1 2018 Dollars are at actual foreign exchange rates. AFx is actual currency
Slide 4: 1st Quarter Revenue
1st Quarter Revenue $M 2019 2018 VPY% AFx VPY% CFx Technology & Analytics $1,075 $985 9.1% 12.9% Solutions Research & Development $1,416 $1,365 3.7% 5.3% Solutions Contract Sales & Medical $193 $213 (9.4)% (7.0)% Solutions Total Revenue $2,684 $2,563 4.7% 7.2% 3 Dollars are at actual foreign exchang
Slide 5: 1st Quarter Profit
1st Quarter Profit $M, except per share data 2019 2018 Adjusted EBITDA (1) $587 $547 Net Income $58 $69 Diluted Earnings per Share $0.29 $0.32 Adjusted Net Income (1) $309 $285 Adjusted Diluted Earnings $1.53 $1.34 per Share (1) Dollars are at actual foreign exchange rates. 4 (1) See reconciliations
Slide 6: R&D Solutions Backlog and NTM Revenue from Backlog
R&D Solutions Backlog and NTM Revenue from Backlog $B Backlog NTM Revenue from Backlog 17.58 17.13 17.19* 4.9 * 4.8 16.40 4.6 4.6 4.6 4.5 15.73 15.16 14.84 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Dollars are at actual foreign exchange rates. NTM: Next twelve months. 5
Slide 7: 1st Quarter Balance Sheet and Cash Flow Items and Metrics
1st Quarter Balance Sheet and Cash Flow Items and Metrics $M Cash & Cash Equivalents $ 936 Gross Debt $ 11,287 Net Debt $ 10,351 Gross Leverage Ratio (1) 5.0x Net Leverage Ratio (1) 4.6x Net Cash Provided by Operating Activities $113 Capital Expenditures $(141) Free Cash Flow $ (28) Dollars are at a
Slide 8: Full-Year 2019 Guidance
Full-Year 2019 Guidance $M, except per share data Revenue $10,900 - $11,125 VPY% 4.7% - 6.8% Adjusted EBITDA $2,375 - $2,425 VPY% 6.8% - 9.0% Adjusted Diluted EPS $6.20 - $6.40 VPY% 11.7% - 15.3% Adjusted Book Tax rate (1) ~22% Adjusted Cash Tax rate (1) ~15% Dollars are at actual foreign exchange r
Slide 9: Q2 2019 Guidance
Q2 2019 Guidance $M, except per share data Guidance VPY% Revenue $2,660 - $2,710 3.6% - 5.6% Adjusted EBITDA $565 - $580 6.0% - 8.8% Adjusted Diluted EPS $1.46 - $1.51 13.2% - 17.1% Dollars are at actual foreign exchange rates. 8 Guidance assumes current exchange rates remain unchanged from March 31
Slide 10: IMS Health & Quintiles are now IQVIA
IMS Health & Quintiles are now VIA
Slide 11: Appendix
IMS Health & Quintiles are now VIA = Appendix 10
Slide 12: Net Income to Adjusted EBITDA Reconciliation
Net Income to Adjusted EBITDA Reconciliation $M Three Months Ended March 31, 2019 2018 Net Income Attributable to IQVIA Holdings Inc. $ 58 $ 69 Provision for income taxes 41 19 Depreciation and amortization 295 282 Interest expense, net 108 94 Loss (income) in unconsolidated affiliates 1 (7) 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 $M, except per share data Three Months Ended March 31, 2019 2018 Net Income Attributable to IQVIA Holdings Inc. $ 58 $ 69 Provision for income taxes 41 19 Purchase accounting amortization 225 218 Loss (income) in unconsolidated affiliat
Slide 14: Leverage Ratios
Leverage Ratios $M Gross Debt, net of Original Issue Discount, as of March 31, 2019 $ 11,287 Net Debt as of March 31, 2019 $ 10,351 Adjusted EBITDA for the twelve months ended March 31, 2019 $ 2,264 Gross Leverage Ratio (Gross Debt/LTM Adjusted EBITDA) 5.0x Net Leverage Ratio (Net Debt/LTM Adjusted