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Mar 31, 2024
IQVIA Q1 2024 Earnings Report
IQVIA's first quarter results for 2024 were reported, featuring revenue of $3,737 million and GAAP net income of $288 million.
Key Takeaways
IQVIA reported a 2.3% increase in revenue to $3,737 million for Q1 2024. GAAP Net Income was $288 million with a GAAP EPS of $1.56. The R&D Solutions contracted backlog reached $30.1 billion, a 7.9% increase year-over-year.
Revenue reached $3,737 million, a 2.3% increase compared to Q1 2023.
GAAP Net Income was reported at $288 million, with GAAP Diluted Earnings per Share at $1.56.
Adjusted EBITDA increased to $862 million, a 1.3% increase year-over-year.
R&D Solutions contracted backlog grew to $30.1 billion, up 7.9% year-over-year.
IQVIA
IQVIA
IQVIA Revenue by Segment
Revenue by Segment
Tech & Analytics Sol. Revenue
CapyFin.comR&D Solutions Revenue
CapyFin.comSales & Med Solutions Revenue
CapyFin.com Forward Guidance
IQVIA reaffirms its full-year revenue guidance on a constant currency basis with revenue guidance now between $15,325 million and $15,575 million. Adjusted EBITDA guidance remains between $3,700 million and $3,800 million, and Adjusted Diluted EPS guidance is reaffirmed at $10.95 to $11.25.
Positive Outlook
- Reaffirms full-year revenue guidance on a constant currency basis.
- Revenue guidance is $15,325 million to $15,575 million on a reported basis.
- Adjusted EBITDA guidance of $3,700 million to $3,800 million is reaffirmed.
- Adjusted Diluted EPS guidance of $10.95 to $11.25 is reaffirmed.
- Guidance assumes foreign currency exchange rates as of April 30, 2024 remain in effect.
Challenges Ahead
- Revenue guidance adjusted for a $75 million impact due to the strengthening US dollar.
- Year-over-year foreign exchange headwind of approximately 100 basis points.
- Guidance assumes approximately $300 million of COVID-related revenue step down.
- Guidance includes approximately 100 basis points of contribution from acquisitions.
- Full-year 2024 guidance measures (other than revenue) are provided on a non-GAAP basis without a reconciliation to the most directly comparable GAAP measure.
Revenue & Expenses
Visualization of income flow from segment revenue to net income