NYSE$IQV
IQVIA Holdings Inc. · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
IQVIA reported first-quarter 2020 results, issued second-quarter 2020 guidance, and updated full-year 2020 guidance.
IQVIA's first-quarter revenue reached $2,754 million, with adjusted diluted earnings per share at $1.50. The R&D Solutions quarterly net book-to-bill ratio was 1.42x including pass throughs, and the contracted backlog grew 14% year-over-year to $19.6 billion.
- First quarter revenue was $2,754 million and Adjusted EBITDA was $562 million.
- GAAP Diluted Earnings per Share was $0.42, while Adjusted Diluted Earnings per Share reached $1.50.
- R&D Solutions quarterly net book-to-bill ratio was 1.42x including pass throughs and 1.35x excluding pass throughs.
- Contracted backlog including pass throughs grew 14 percent year-over-year to $19.6 billion.
Headline financials
Revenue & EPS history
IQVIA · Revenue · Quarterly
$2.75B
Revenue by segment
IQVIA · $2.75B total across 3 segments · Q1 2020
- Research & Development Solutions$1.44B—52.3%
- Technology & Analytics Solutions$1.12B—40.6%
- Contract Sales & Medical Solutions$196M—7.1%
Forward guidance
IQVIA expects full-year 2020 revenue to be between $10,600 million and $10,925 million, Adjusted EBITDA to be between $2,200 million and $2,300 million, and Adjusted Diluted Earnings per Share to be between $5.75 and $6.10. For the second quarter of 2020, revenue is expected to be between $2,365 million and $2,440 million, Adjusted EBITDA between $445 million and $470 million, and Adjusted Diluted Earnings Per Share between $1.00 and $1.09.
Tailwinds
- New cases of the virus continue to increase globally through the second quarter, then level off and begin to decline by the end of the quarter.
- Business activity begins to recover during the third quarter, as access to clinical research sites resumes gradually during the quarter, with a return to 100 percent functionality at the beginning of the fourth quarter.
- Commercial activity gradually resumes throughout the third quarter and returns to normal by the beginning of the fourth quarter.
- The number of inaccessible sites will average 70 percent through the second quarter.
- An average of 35 percent of sites will be inaccessible in the third quarter, with all sites open and accessible by the beginning of the fourth quarter.
Headwinds
- The future course of the COVID-19 virus is inherently uncertain.
- Approximately 80 percent of the company’s clinical research sites are inaccessible due to limitations on the ability to travel to and access sites.
- The company currently estimates that approximately half of the impact from general business disruption caused by the COVID-19 virus will occur in the second quarter, over a third in the third quarter and the balance in the fourth quarter.
- An approximate $75 million unfavorable impact to revenue due to foreign currency movements since the company last provided guidance.
- Second quarter expected to be the fiscal quarter most impacted by the COVID-19 crisis.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2020
+1.4%
Avg return
Earnings day
+1.6%
Avg return
5 days after
+1.9%
Avg return
30 days after
65%
37 / 57 earnings
Positive
+12.5%
Q2 2018
Best reaction
-10.7%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +7.7% | +10.9% | +13.9% | |
| Q4 2025 | -10.7% | -9.9% | -13.8% | |
| Q3 2025 | +0.3% | -0.4% | +6.6% | |
| Q2 2025 | -0.4% | +1.1% | -1.6% | |
| Q1 2025 | -4.0% | -2.2% | -3.2% | |
| Q4 2024 | +2.2% | -2.2% | -6.7% | |
| Q3 2024 | -3.2% | -1.5% | -7.0% | |
| Q2 2024 | +6.3% | +6.7% | +10.0% | |
| Q1 2024 | -4.1% | -1.6% | -5.9% | |
| Q4 2023 | +12.2% | +10.8% | +17.4% | |
| Q3 2023 | +5.3% | +9.7% | +20.0% | |
| Q2 2023 | -2.1% | -3.1% | -0.5% | |
| Q1 2023 | -0.9% | -2.3% | +5.0% | |
| Q4 2022 | +0.8% | -1.4% | -14.4% | |
| Q3 2022 | +1.4% | +6.1% | +11.3% | |
| Q2 2022 | +0.5% | -0.4% | +8.3% | |
| Q1 2022 | +6.1% | +5.0% | +6.7% | |
| Q4 2021 | -3.2% | -4.8% | -6.9% | |
| Q3 2021 | +2.1% | +1.8% | +6.6% | |
| Q2 2021 | -0.8% | +0.2% | +4.5% | |
| Q1 2021 | +6.1% | +7.0% | +9.1% | |
| Q4 2020 | +4.9% | +4.8% | +1.6% | |
| Q3 2020 | +3.2% | +2.1% | +3.4% | |
| Q2 2020 | +2.9% | +3.4% | +0.4% | |
| Q1 2020 | +8.5% | +3.5% | +10.9% | |
| Q4 2019 | +2.5% | +1.6% | -26.6% | |
| Q3 2019 | -3.8% | -2.4% | -2.7% | |
| Q2 2019 | +2.1% | +1.6% | -2.3% | |
| Q1 2019 | -2.0% | -0.1% | -2.2% | |
| Q4 2018 | +7.6% | +7.3% | +7.4% | |
| Q3 2018 | -3.5% | -5.3% | -8.4% | |
| Q2 2018 | +12.5% | +8.2% | +11.7% | |
| Q1 2018 | -0.7% | +0.2% | +2.6% | |
| Q4 2017 | +1.5% | +1.7% | +5.6% | |
| Q3 2017 | +6.1% | +6.5% | +2.7% | |
| Q2 2017 | -1.3% | -1.0% | +4.4% | |
| Q1 2017 | -3.7% | -2.0% | +3.0% | |
| Q4 2016 | -2.7% | -4.1% | +0.5% | |
| Q3 2016 | +0.8% | +4.1% | +3.3% | |
| Q2 2016 | +3.3% | +4.2% | +0.3% | |
| Q1 2016 | -5.9% | — | — | |
| Q4 2015 | +3.6% | — | — | |
| Q3 2015 | -6.2% | — | — | |
| Q2 2015 | +2.6% | — | — | |
| Q1 2015 | -4.9% | — | — | |
| Q4 2014 | +4.3% | — | — | |
| Q3 2014 | +0.9% | — | — | |
| Q2 2014 | -3.1% | — | — | |
| Q1 2014 | +0.4% | — | — | |
| Q4 2011 | +7.5% | — | — | |
| Q4 2013 | +7.5% | — | — | |
| Q3 2012 | +0.1% | — | — | |
| Q3 2013 | +0.1% | — | — | |
| Q2 2012 | +0.8% | — | — | |
| Q2 2013 | +0.8% | — | — | |
| Q1 2012 | +5.0% | — | — | |
| Q4 2012 | +5.0% | — | — | |
| Q1 2013 | — | — | — |
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