IQVIA Holdings ( (IQV) ) has released its Q3 earnings. Here is a breakdown of the information IQVIA Holdings presented to its investors.
IQVIA Holdings Inc. is a global leader in providing clinical research services, commercial insights, and healthcare intelligence to the life sciences and healthcare industries, utilizing advanced analytics and AI to improve patient outcomes.
IQVIA has reported its financial results for the third quarter of 2024, showcasing a solid revenue increase and announcing an upcoming Investor Day. Key highlights include significant growth in both revenue and adjusted earnings, despite some challenges in their R&D Solutions segment.
The company recorded a revenue of $3,896 million, a 4.3% increase from the previous year, and a GAAP net income of $285 million. Notably, the Adjusted EBITDA rose to $939 million, marking a 5.7% year-over-year increase. IQVIA’s R&D Solutions division secured quarterly bookings of $2.3 billion and reported a backlog of $31.1 billion, an 8% increase. However, the division faced a setback due to the cancellation of a major program.
Furthermore, IQVIA’s Technology & Analytics Solutions division experienced an 8.6% revenue growth, contributing to strong free cash flow of $571 million for the quarter. The company has updated its full-year 2024 financial guidance, anticipating revenue between $15,350 million and $15,400 million, with adjusted EPS between $11.10 and $11.20.
Looking ahead, IQVIA remains optimistic, focusing on the growth of its TAS segment and the solid fundamentals of its R&D Solutions business. The company is gearing up for its Investor Day in December, where it will share strategic updates and insights into its future direction.
