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IQVIA Holdings Inc. (IQV - Free Report) reported solid first-quarter 2021 results, wherein the company’s earnings and revenues surpassed the Zacks Consensus Estimate.
Adjusted earnings per share of $2.18 beat the consensus mark by 17.8% and improved 45.3% on a year-over-year basis. The reported figure was above the guided range of $1.81-$1.87.
Total revenues of $3.41 billion outpaced the consensus estimate by 7.5% and increased 23.8% year over year on a reported basis and 21.4% on a constant-currency basis. The reported figure came above the guided range of $3.15-$3.20 billion.
Over the past year, the stock of IQVIA Holdings has gained 71.5% compared with 22.8% growth of the industry it belongs to and 50.7% rally of the Zacks S&P 500 composite.
Let’s check out the numbers in detail:
Segmental Revenues
Revenues from Technology & Analytics Solutions totaled $1.35 billion, up 20.7% on a reported basis and 17.1% on a constant-currency basis.
Research & Development Solutions’ revenues of $1.87 billion increased 29.6% on a reported basis and 28.1% on a constant-currency basis.
Revenues from Contract Sales & Medical Solutions totaled $193 million, down 1.5% on a reported and 4.1% on a constant-currency basis.
Operating Performance
Adjusted EBITDA was $744 million, up 32.4% year over year. Adjusted EBITDA margin grew to 21.8% from 20.4% in the year-ago quarter.
IQVIA Holdings Inc. Price, Consensus and EPS Surprise
IQVIA exited first-quarter 2021 with cash and cash equivalents balance of $2.31 billion compared with $1.81 billion at the end of the prior quarter. Long-term debt was $12.1 billion compared with $12.4 billion at the end of the prior quarter.
The company generated $867 million of cash from operating activities in the reported quarter and CapEx was $149 million.
During the reported quarter, IQVIA repurchased shares worth $50 million. As of Mar 31, 2021, the company had nearly $867 million of share-repurchase authorization remaining.
Second-Quarter 2021 Guidance
IQVIA expects second-quarter revenues in the range of $3.23-$3.30 billion. The current Zacks Consensus Estimate of $3.08 billion lies below the guidance.
Adjusted earnings per share are expected to be between $2.00 and $2.10. The current Zacks Consensus Estimate of $1.85 lies below the guidance.
Adjusted EBITDA is anticipated between $690 million and $715 million.
2021 Guidance
For full-year 2021, IQVIA now expects revenues in the range of $13.2-$13.5 billion compared with the prior guidance of $12.55-$12.90 billion. The current Zacks Consensus Estimate of $12.82 billion lies below the updated guidance.
Adjusted earnings per share are expected to be between $8.50 and $8.75 compared with the prior guidance of $7.89-$8.20. The current Zacks Consensus Estimate of $8.06 lies below the updated guidance.
Adjusted EBITDA is anticipated to be between $2.900 billion and $2.965 billion compared with the prior guidance of $2.760-$2.840 billion.
Equifax’s (EFX - Free Report) first-quarter 2021 adjusted earnings of $1.97 per share beat the Zacks Consensus Estimate by 29.6% and improved on a year-over-year basis. Revenues of $1.21 billion outpaced the consensus estimate by 7.9% and improved 26.6% year over year on a reported basis as well as on a local-currency basis.
Robert Half’s (RHI - Free Report) first-quarter 2021 earnings of 98 cents per share beat the consensus mark by 22.5% and were up 24.1% year over year. Revenues of $1.4 billion surpassed the consensus mark by 3.3% but declined 7.2% year over year on a reported basis and 7.6% on an adjusted basis.
Omnicom’s (OMC - Free Report) first-quarter 2021 adjusted earnings of $1.33 per share beat the consensus mark by 16.7% and increased 11.8% year over year. Total revenues of $3.4 billion surpassed the consensus estimate by 3.6% and increased marginally year over year.
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IQVIA (IQV) Beats on Q1 Earnings & Revenues, Raises 2021 View
IQVIA Holdings Inc. (IQV - Free Report) reported solid first-quarter 2021 results, wherein the company’s earnings and revenues surpassed the Zacks Consensus Estimate.
Adjusted earnings per share of $2.18 beat the consensus mark by 17.8% and improved 45.3% on a year-over-year basis. The reported figure was above the guided range of $1.81-$1.87.
Total revenues of $3.41 billion outpaced the consensus estimate by 7.5% and increased 23.8% year over year on a reported basis and 21.4% on a constant-currency basis. The reported figure came above the guided range of $3.15-$3.20 billion.
Over the past year, the stock of IQVIA Holdings has gained 71.5% compared with 22.8% growth of the industry it belongs to and 50.7% rally of the Zacks S&P 500 composite.
Let’s check out the numbers in detail:
Segmental Revenues
Revenues from Technology & Analytics Solutions totaled $1.35 billion, up 20.7% on a reported basis and 17.1% on a constant-currency basis.
Research & Development Solutions’ revenues of $1.87 billion increased 29.6% on a reported basis and 28.1% on a constant-currency basis.
Revenues from Contract Sales & Medical Solutions totaled $193 million, down 1.5% on a reported and 4.1% on a constant-currency basis.
Operating Performance
Adjusted EBITDA was $744 million, up 32.4% year over year. Adjusted EBITDA margin grew to 21.8% from 20.4% in the year-ago quarter.
IQVIA Holdings Inc. Price, Consensus and EPS Surprise
IQVIA Holdings Inc. price-consensus-eps-surprise-chart | IQVIA Holdings Inc. Quote
Balance Sheet and Cash Flow
IQVIA exited first-quarter 2021 with cash and cash equivalents balance of $2.31 billion compared with $1.81 billion at the end of the prior quarter. Long-term debt was $12.1 billion compared with $12.4 billion at the end of the prior quarter.
The company generated $867 million of cash from operating activities in the reported quarter and CapEx was $149 million.
During the reported quarter, IQVIA repurchased shares worth $50 million. As of Mar 31, 2021, the company had nearly $867 million of share-repurchase authorization remaining.
Second-Quarter 2021 Guidance
IQVIA expects second-quarter revenues in the range of $3.23-$3.30 billion. The current Zacks Consensus Estimate of $3.08 billion lies below the guidance.
Adjusted earnings per share are expected to be between $2.00 and $2.10. The current Zacks Consensus Estimate of $1.85 lies below the guidance.
Adjusted EBITDA is anticipated between $690 million and $715 million.
2021 Guidance
For full-year 2021, IQVIA now expects revenues in the range of $13.2-$13.5 billion compared with the prior guidance of $12.55-$12.90 billion. The current Zacks Consensus Estimate of $12.82 billion lies below the updated guidance.
Adjusted earnings per share are expected to be between $8.50 and $8.75 compared with the prior guidance of $7.89-$8.20. The current Zacks Consensus Estimate of $8.06 lies below the updated guidance.
Adjusted EBITDA is anticipated to be between $2.900 billion and $2.965 billion compared with the prior guidance of $2.760-$2.840 billion.
Currently, IQVIA carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Business Services Companies
Equifax’s (EFX - Free Report) first-quarter 2021 adjusted earnings of $1.97 per share beat the Zacks Consensus Estimate by 29.6% and improved on a year-over-year basis. Revenues of $1.21 billion outpaced the consensus estimate by 7.9% and improved 26.6% year over year on a reported basis as well as on a local-currency basis.
Robert Half’s (RHI - Free Report) first-quarter 2021 earnings of 98 cents per share beat the consensus mark by 22.5% and were up 24.1% year over year. Revenues of $1.4 billion surpassed the consensus mark by 3.3% but declined 7.2% year over year on a reported basis and 7.6% on an adjusted basis.
Omnicom’s (OMC - Free Report) first-quarter 2021 adjusted earnings of $1.33 per share beat the consensus mark by 16.7% and increased 11.8% year over year. Total revenues of $3.4 billion surpassed the consensus estimate by 3.6% and increased marginally year over year.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
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