IQVIA Holdings, Inc. · NYSE:IQV
IQVIA — Q2 2019 Earnings Presentation
14 slides from IQVIA's earnings presentation, Jul 24, 2019
Slide 1: Q2 2019 Earnings Call
Q2 2019 Earnings Call July 24, 2019 Copyright © 2019 IQVIA. All rights reserved.
Slide 2: Legal
Legal This presentation should be viewed in conjunction with IQVIA’s Q2 2019 earnings call Safe Harbor Statement for Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 19
Slide 3: 2nd Quarter Results
2nd Quarter Results $M, except per share data Revenue Adjusted EBITDA(1) Adjusted Diluted EPS(1) +8.5% CFx +6.9% CFx +18.6% AFx +6.7% AFx +8.4% AFx $1.53 $2,740 $578 $2,567 $533 $1.29 Q2 2019 Q2 2018 Q2 2019 Q2 2018 Q2 2019 Q2 2018 Dollars are at actual foreign exchange rates. AFx is actual currency
Slide 4: 2nd Quarter and Year-to-Date Revenue
2nd Quarter and Year-to-Date Revenue $M Q2 YTD VPY% VPY% VPY% VPY% 2019 2018 2019 2018 AFx CFx AFx CFx Technology & Analytics $1,102 $1,011 9.0% 11.4% $2,177 $1,996 9.1% 12.1% Solutions Research & $1,435 $1,350 6.3% 7.5% $2,851 $2,715 5.0% 6.4% Development Solutions Contract Sales & $203 $206 (1.5)%
Slide 5: 2nd Quarter and Year-to-Date Profit
2nd Quarter and Year-to-Date Profit $M, except per share data Q2 YTD 2019 2018 2019 2018 Adjusted EBITDA (1) $578 $533 $1,165 $1,080 Net Income $60 $61 $118 $130 Diluted Earnings per Share $0.30 $0.29 $0.59 $0.62 Adjusted Net Income (1) $306 $270 $615 $555 Adjusted Diluted Earnings $1.53 $1.29 $3.06
Slide 6: R&D Solutions Backlog
R&D Solutions Backlog $B 18.03 17.13 17.19 16.40 15.73 15.16 14.84 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 5 Dollars are at actual foreign exchange rates.
Slide 7: 2nd Quarter Balance Sheet and Cash Flow Items and Metrics
2nd Quarter Balance Sheet and Cash Flow Items and Metrics $M Cash & Cash Equivalents $938 Gross Debt $11,399 Net Debt $10,461 Gross Leverage Ratio (1) 4.9x Net Leverage Ratio (1) 4.5x Net Cash Provided by Operating Activities $391 Capital Expenditures $155 Free Cash Flow $236 Dollars are at actual f
Slide 8: Full-Year 2019 Guidance
Full-Year 2019 Guidance $M, except per share data PRIOR UPDATED Revenue $10,900 - $11,125 $11,000 - $11,150 VPY% 4.7% - 6.8% 5.6% - 7.1% Adjusted EBITDA $2,375 - $2,425 $2,385 - $2,415 VPY% 6.8% - 9.0% 7.2% - 8.6% Adjusted Diluted EPS $6.20 - $6.40 $6.25 - $6.45 VPY% 11.7% - 15.3% 12.6% - 16.2% Adju
Slide 9: Q3 2019 Guidance
Q3 2019 Guidance $M, except per share data Q3 YTD YTD Q3 Guidance Guidance VPY% Revenue $2,730-$2,780 $8,154-$8,204 5.6%-6.2% Adjusted EBITDA $580-$595 $1,745-$1,760 6.3%-7.3% Adjusted Diluted $1.53-$1.59 $4.59-$4.65 13.3%-14.8% EPS Dollars are at actual foreign exchange rates. 8 Guidance assumes cu
Slide 10: IMS Health & Quintiles are now IQVIA
IMS Health & Quintiles are now VIA
Slide 11: Appendix
IMS Health & Quintiles are now VIA = Appendix 10
Slide 12: Net Income to Adjusted EBITDA Reconciliation
Net Income to Adjusted EBITDA Reconciliation $M Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Net Income Attributable to IQVIA Holdings Inc. $ 60 $ 61 $ 118 $ 130 Provision for income taxes 8 24 49 43 Depreciation and amortization 294 282 589 564 Interest expense, net 112
Slide 13: Net Income to Adj. Net Income and Per Share Data Reconciliation
Net Income to Adj. Net Income and Per Share Data Reconciliation $M, except per share data Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Net Income Attributable to IQVIA Holdings Inc. $ 60 $ 61 $ 118 $ 130 Provision for income taxes 8 24 49 43 Purchase accounting amortizat
Slide 14: Leverage Ratios
Leverage Ratios $M Gross Debt, net of Original Issue Discount, as of June 30, 2019 $ 11,399 Net Debt as of June 30, 2019 $ 10,461 Adjusted EBITDA for the twelve months ended June 30, 2019 $ 2,309 Gross Leverage Ratio (Gross Debt/LTM Adjusted EBITDA) 4.9x Net Leverage Ratio (Net Debt/LTM Adjusted EBI