IQVIA's Q2 Earnings Surpass Expectations; Forex Hits FY22 Top-Line Forecast - IQVIA Hldgs (NYSE:IQV)

IQVIA Holdings Inc IQV posted Q2 sales of $3.54 billion, up 3% Y/Y on a reported basis and 7.1% at constant currency (CC), slightly above the consensus of $3.49 billion and the management guidance of $3.47 billion - $3.52 billion.
Technology & Analytics Solutions revenue increased 4.1% (9.4% CC) to $1.41 billion.
Research & Development Solutions (R&DS) sales reached $1.95 billion, +3.1% (6% CC).
Contract Sales & Medical Solutions revenue were down 5.7% (+2.1% CC) to $183 million.
R&DS contracted backlog grew 7.1% Y/Y to $25.6 billion. The company expects approximately $7.0 billion of this backlog to convert to revenue in the next twelve months.
IQVIA reported Q2 adjusted EPS of $2.44,+14.6%, beating the consensus of $2.39.
Guidance: IQVIA has revised FY22 sales guidance on updated for foreign exchange.
It expects revenue of $14.4 billion - $14.55 billion, down from the previous range of $14.45 billion - $14.75 billion, versus the consensus of $14.59 billion.
Additionally, the company reaffirmed its Adjusted EBITDA and Adjusted EPS outlook at the midpoint of its previous guidance ranges.
The company expects FY22 adjusted EBITDA of $3.35 billion - $3.39 billion and adjusted EPS of $10 - $10.20 (consensus of $10.12).
For Q3, IQVIA forecasts sales of $3.52 billion - $3.57 billion, below the consensus of $3.61 billion.
The company sees adjusted EBITDA of $805 million - $820 million and adjusted EPS of $2.34 - $2.42, compared to the consensus of $2.48.
Price Action: IQV shares are down 0.27% at $220.00 during the premarket session on the last check Thursday.

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