- IQVIA Holdings Inc (NYSE: 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.
Read at Benzinga