Investors Seem To Be Unmoved By IQVIA's Street Lagging Estimates, Q1 Surpass Expectations

  • IQVIA Holdings Inc IQV posted Q1 sales of $3.57 billion, up 4.7% on a reported basis and 6.8% at constant currency (CC), slightly above the consensus of $3.55 billion.
  • Technology & Analytics Solutions revenue increased 6.8% (9.8% CC) to $1.44 billion. 
  • Research & Development Solutions (R&DS) sales reached $1.93 billion, +3.5% (4.7% CC). 
  • Contract Sales & Medical Solutions revenue were up 1% (5.7% CC) to $195 million.
  • R&DS contracted backlog grew 9.1% Y/Y to $25.3 billion. The Company expects approximately $7.0 billion of this backlog to convert to revenue in the next twelve months. 
  • IQVIA reported Q1 adjusted EPS of $2.47,+13.3%, beating the consensus of $2.42.
  • Guidance: IQVIA forecasts some disruption from the Ukraine/Russia crisis. It is updating its revenue guidance to $14.45 billion - $14.75 billion, down from the previous range of $14.7 billion - $15 billion, versus the consensus of $41.81 billion.
  • The Company is reaffirming its FY22 adjusted EBITDA of $3.33 billion - $3.41 billion and adjusted EPS of $9.95 to $10.25 (consensus of $10.15).
  • For Q2, IQVIA forecasts sales of $3.47 billion - $3.52 billion, below the consensus of $$3.63 billion.
  • The Company sees adjusted EBITDA of $790 million - $805 million and adjusted EPS of $2.35 - $2.42, compared to the consensus of $ $2.43.
  • Price Action: IQV shares are down 0.41% at $205.89 during the market session on the last check Wednesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsLarge CapNewsGuidanceHealth CareMoversTrading IdeasGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!