Iqvia Holdings, Inc. · NYSE:IQV
Iqvia — Q2 2022 Earnings Presentation
15 slides from Iqvia's earnings presentation, Jul 21, 2022
Slide 1: Q2 2022 Earnings Call
Q2 2022 Earnings Call July 21, 2022 © 2022. 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 for Forward-Looking Statements
Legal This presentation should be viewed in conjunction with IQVIA’s Q2 2022 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, and Free Cash Flow. N
Slide 4: 2nd Quarter Results
2nd Quarter Results $M, except per share data Revenue Adjusted EBITDA (1) Adjusted Diluted EPS (1) 3.0% AFx 10.8% AFx 14.6% AFx 7.1% CFx $3,541 $3,438 $800 $2.44 $722 $2.13 Q2 2022 Q2 2021 Q2 2022 Q2 2021 Q2 2022 Q2 2021 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% 2022 2021 2022 2021 AFx CFx AFx CFx Technology & Analytics $1,408 $1,353 4.1% 9.4% $2,847 $2,701 5.4% 9.6% Solutions Research & $1,950 $1,891 3.1% 6.0% $3,884 $3,759 3.3% 5.3% Development Solutions Contract Sales & $183 $194 (5.7)% 2
Slide 6: 2nd Quarter and Year-to-Date Profit
2nd Quarter and Year-to-Date Profit $M, except per share data Q2 YTD 2022 2021 2022 2021 Adjusted EBITDA (1) $800 $722 $1,612 $1,466 Net Income $256 $175 $581 $387 Diluted Earnings per Share $1.34 $0.90 $3.02 $1.99 Adjusted Net Income (1) $466 $416 $943 $841 Adjusted Diluted Earnings $2.44 $2.13 $4.
Slide 7: R&D Solutions Backlog
R&D Solutions Backlog $B Up ~50% over three years $25.3 $25.6 $24.4 $24.8 $23.9 $22.6 $23.2 $21.7 $20.5 $19.0 $19.6 $18.0 $18.3 $17.2 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Dollars are at actual foreign exchange rates. 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 $1,428 Gross Debt $12,767 Net Debt $11,339 Gross Leverage Ratio (1) 4.03x Net Leverage Ratio (1) 3.58x Net Cash Provided by Operating Activities $329 Capital Expenditures $161 Free Cash Flow (2) $168 Dollars are at
Slide 9: Full-Year 2022 Guidance
Full-Year 2022 Guidance $M, except per share data Updated Prior Guidance Guidance Revenue $14,400 - $14,550 $14,450 - $14,750 VPY% CFX (1) 7.4% - 8.5% 6.9% - 9.0% VPY% 3.8% - 4.9% 4.2% - 6.3% Adjusted EBITDA $3,345 - $3,395 $3,330 - $3,405 VPY% 10.7% - 12.3% 10.2% - 12.7% Adjusted Diluted EPS $10.00
Slide 10: Q3 2022 Guidance
Q3 2022 Guidance $M, except per share data Guidance Revenue $3,515 - $3,565 VPY% CFX (1) 8.4% - 9.8% VPY% 3.7% - 5.1% Adjusted EBITDA $805 - $820 VPY% 10.6% - 12.6% Adjusted Diluted EPS $2.34 - $2.42 VPY% 7.8% - 11.5% (1) Assumes 2022 foreign currency exchange rates consistent with 2021. All financi
Slide 11: Q&A
Q&A 10
Slide 12: Net Income to Adjusted EBITDA Reconciliation
Net Income to Adjusted EBITDA Reconciliation Three Months Ended June 30, Six Months Ended June 30, (in millions) 2022 2021 2022 2021 Net Income Attributable to IQVIA Holdings Inc. $ 256 $ 175 $ 581 $ 387 Provision for income taxes 71 48 142 92 Depreciation and amortization 270 343 525 666 Interest e
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 June 30, Six Months Ended June 30, (in millions, except per share data) 2022 2021 2022 2021 Net Income Attributable to IQVIA Holdings Inc. $ 256 $ 175 $ 581 $ 387 Provision for income taxes 71 48 142 92 Purchase accou
Slide 14: Operating Cash Flow to Free Cash Flow Reconciliation
Operating Cash Flow to Free Cash Flow Reconciliation Three Months Six Months Ended Ended June 30, June 30, (in millions) 2022 2022 Net Cash provided by Operating Activities $ 329 $ 837 Acquisition of property, equipment and software (161) (338) Free Cash Flow $ 168 $ 499 13
Slide 15: Leverage Ratios
Leverage Ratios (in millions) Gross Debt, net of Unamortized Discount and Debt Issuance Costs, as of June 30, 2022 $ 12,767 Net Debt as of June 30, 2022 $ 11,339 Adjusted EBITDA for the twelve months ended June 30, 2022 $ 3,168 Gross Leverage Ratio (Gross Debt/LTM Adjusted EBITDA) 4.0x Net Leverage