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Dec 31, 2022
IQVIA Q4 2022 Earnings Report
IQVIA reported strong results and record bookings and backlog.
Key Takeaways
IQVIA's Q4 2022 results showed revenue of $3,739 million, a 2.8% increase, and GAAP Net Income of $227 million. The company's Adjusted Diluted Earnings per Share was $2.78, up 9.0% year-over-year, and Adjusted EBITDA was $920 million, an 11.1% increase year-over-year. R&D Solutions quarterly bookings were over $3.1 billion, with a book-to-bill ratio of 1.51x.
Revenue for the fourth quarter increased 2.8 percent on a reported basis to $3,739 million.
GAAP Net Income for the fourth quarter was $227 million, down 28.6 percent year-over-year.
Adjusted Diluted Earnings per Share was $2.78, up 9.0 percent year-over-year.
R&D Solutions contracted backlog grew 9.6 percent year-over-year to $27.2 billion.
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
For the full year of 2023, the company expects revenue to be between $15,150 million and $15,400 million, representing growth of 5.1 to 6.9 percent on a reported basis and 5.0 to 6.8 percent at constant currency.
Positive Outlook
- Revenue to be between $15,150 million and $15,400 million.
- Growth of 5.1 to 6.9 percent on a reported basis and 5.0 to 6.8 percent at constant currency.
- Adjusted EBITDA to be between $3,625 million and $3,695 million, representing growth of 8.3 to 10.4 percent.
- Adjusted Diluted Earnings per Share is expected to be between $10.26 and $10.56, up 1.0 to 3.9 percent.
- Adjusted Diluted Earnings per Share is expected to grow 11 to 14 percent, excluding certain items.
Challenges Ahead
- Revenue guidance assumes approximately $600 million of COVID-related revenue step down versus 2022.
- Adjusted Diluted Earnings per Share guidance includes the year-over-year impact of the step-up in interest rates and the increase in the UK corporate tax rate.
- These non-operational items impact the year-over-year growth rate by approximately 10 percentage points.
- Guidance assumes foreign currency exchange rates as of February 8, 2023 remain in effect for the forecast period.
- The guidance represents 9 to 11 percent revenue growth at constant currency excluding acquisitions and COVID-related work.
Revenue & Expenses
Visualization of income flow from segment revenue to net income