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IQVIA
🇺🇸 NYSE:IQV
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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.

Total Revenue
$3.74B
Previous year: $3.64B
+2.8%
EPS
$2.78
Previous year: $2.55
+9.0%
R&DS Next 12 Months Revenue
$27.2B
Previous year: $24.8B
+9.7%
Gross Profit
$1.33B
Previous year: $1.27B
+4.7%
Cash and Equivalents
$1.22B
Previous year: $1.37B
-11.0%
Free Cash Flow
$389M
Previous year: $508M
-23.4%
Total Assets
$25.3B
Previous year: $24.7B
+2.6%

IQVIA

IQVIA

IQVIA Revenue by Segment

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

Company Overview

Full financial data and analysis

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