Document

第99.1展示文本

IQVIA報告2024年第三季度業績

並宣佈投資者日

•營業收入爲389600萬美元

•GAAP淨利潤爲28500萬美元，調整後的EBITDA爲93900萬美元

•每股1.55美元的普通股攤薄收益，調整後每股2.84美元的攤薄收益

•研發解決方案季度訂單達到23億美元，導致過去十二個月的訂單額達到104億美元，過去十二個月的訂單金額與賬單比率爲1.22倍

•研發解決方案合同積壓金額爲311億美元，同比增長8.0%

•TAS的營業收入爲155400萬美元，同比增長8.6%

•經營性現金流爲72100萬美元，使年初至今的經營性現金流達到183100萬美元，同比增長31%。

•自由現金流爲57100萬美元，年初至今自由現金流達到139300萬美元，同比增長49%

•2024年全年指引已更新，預計營業收入介於1535000萬元和1540000萬元之間，調整後的EBITDA介於367500萬元和370000萬元之間，調整後的稀釋每股收益介於11.10和11.20美元之間

•2024年12月10日舉行投資者日

北卡羅來納州研究三角園 – (業務新聞) – 2024年10月31日 — IQVIA Holdings Inc.（「IQVIA」）（紐交所：IQV），全球一流的臨床研究服務、商業洞察和醫療保健情報提供商，今日公佈了截至2024年9月30日的季度財務業績。

2024年第三季度運營業績

第三季度營業收入達到389600萬美元，按報告基礎增長了4.3％，按不變貨幣計算增長了4.2％，與2023年第三季度相比。Technology & Analytics Solutions（TAS）營業收入爲155400萬美元，按報告基礎增長了8.6％，按不變貨幣計算增長了8.2％。Research & Development Solutions（研發解決方案）（R&DS）營業收入爲216200萬美元，按報告基礎增長了1.9％，按不變貨幣計算增長了2.0％。不考慮直接費用的影響，R&DS營業收入按報告基礎增長了3.2％。Contract Sales & Medical Solutions（CSMS）營業收入爲18000萬美元，按報告基礎下降了1.6％，按不變貨幣計算下降了1.1％。

截至2024年9月30日，研發與服務合同尚未履行的積壓訂單，包括報銷費用，在貨幣持平情況下爲311億美元，同比增長8.0％。公司預計約78億美元的這些積壓訂單將在接下來的十二個月內轉化爲營業收入。第三季度的訂單額與發票額比爲1.06倍，其中包括因藥物無效性而取消的一項大型項目的影響（不包括這一大型項目取消時爲1.22倍）。截至2024年9月30日的十二個月期間，訂單額與發票額比爲1.22倍。

第三季度按照通用會計準則淨利潤爲28500萬美元，按照通用會計準則稀釋每股收益爲1.55美元。調整後的EBITDA爲93900萬美元，同比增長5.7％。調整後的淨利潤爲52300萬美元，調整後的稀釋每股收益爲2.84美元，分別增長了13.2％和14.1％。

2024年截至今日的運營結果

2024年前九個月的營業收入爲1144700萬美元，在報告基礎上增長了3.0％，在恒定貨幣下增長了3.5％，與2023年前九個月相比。 TAS的營業收入爲450200萬美元，按報告基礎增長了3.9％，在恒定貨幣下增長了4.3％。研發服務（R&D）的營業收入爲640400萬美元，在報告基礎上增長了2.6％，在恒定貨幣下增長了3.0％。客戶服務與市場銷售（CSMS）的營業收入爲54100萬美元，按報告基礎與去年持平，在恒定貨幣下增長了3.0％。

GAAP淨利潤爲93600萬美元，GAAP稀釋每股收益爲5.08美元。調整後的EBITDA爲268800萬美元。調整後的淨利潤爲147800萬美元，調整後的稀釋每股收益爲8.02美元。

財務狀況

截至2024年9月30日，現金及現金等價物爲$157200萬，債務爲$1351200萬，淨負債爲$1194000萬。 IQVIA的淨槓桿率爲3.27倍過去十二個月調整後的EBITDA。至於第三季度，經營現金流爲$72100萬，自由現金流爲$57100萬。

在該次發行和回購中的股份數

2024年第三季度，該公司回購了2億美元的普通股。截至2024年9月30日，愛可仕剩餘的回購授權額爲216300萬美元。

2024年全年指引

公司正在更新其2024財年的全部情況爲反映由於客戶相關的短期後勤挑戰而導致兩項快速燃燒的大型試驗的延遲，公司更新了指引。這些試驗現在預計將在2025年下半年加速進行。因此，2024財年的營業收入預計將在1535000萬美元至1540000萬美元之間，調整後的EBITDA預計在367500萬美元至370000萬美元之間，調整後的每股攤薄收益預計在11.10美元至11.20美元之間。

所有板塊財務指導假設截至2024年10月30日的外匯匯率在預測期內仍然有效。

「IQVIA報告了強勁的第三季度業績，」IQVIA的董事長兼首席執行官Ari Bousbib表示。「我們實現了利潤率擴張，強勁的自由現金流，以及兩位數的調整後攤薄每股收益增長。正如我們預期的那樣，TAS營業收入增長在本季度加速；事實上，營業收入增長超過了我們的預期，同比增長超過8%，進一步表明我們對這一部分持續復甦的信懇智能。研發服務營業收入增長達到我們的預期，儘管我們的短期展望受到一個大型項目取消和兩個超大型試驗延期的聯合影響。研發服務業務的基本面穩固，前瞻性因子如RFP流、合格的項目管道增長、積壓訂單增長以及來自積壓訂單的未來十二個月收入仍然健康。」

黃金皇族的管理團隊將於2024年6月12日上午9:00 PT至上午11:00 PT舉行虛擬投資者日，更新黃金皇族的業務戰略，審查其資產並審查公司更新的可持續發展報告和資產手冊。

IQVIA將於2024年12月10日星期二在公司位於北卡羅來納州創新園總部舉辦投資者日。管理團隊將就業務進行更新，IQVIA高級執行團隊成員將於東部時間上午10:30開始，預計於下午1:00左右結束進行演講。演講結束後，與會者將有機會參加產品演示和實驗室設施的導覽。有關活動的更多信息，請訪問IQVIA投資者關係網站http://ir.iqvia.com。

網絡直播和電話會議詳細資料

IQVIA將於今天上午9:00舉行電話會議，討論2024年第三季度業績以及2024年第四季度和全年業績預測。要收聽該活動並通過網絡廣播查看演示幻燈片，請從IQVIA投資者關係網站http://ir.iqvia.com加入。要參加電話會議，感興趣的各方必須提前註冊，點擊此鏈接進行註冊。註冊後，參與者將收到一封確認郵件，其中包含如何加入電話會議的詳細信息，包括撥入號碼、獨特通行碼和註冊者ID。在直播活動時，註冊參與者使用確認郵件中提供的信息連接到通話，並將直接進入通話。

About IQVIA

IQVIA (NYSE:IQV) is a leading global provider of clinical research services, commercial insights and healthcare intelligence to the life sciences and healthcare industries. IQVIA’s portfolio of solutions are powered by IQVIA Connected Intelligence™ to deliver actionable insights and services built on high-quality health data, Healthcare-grade AI™, advanced analytics, the latest technologies and extensive domain expertise. With approximately 88,000 employees in over 100 countries, including experts in healthcare, life sciences, data science, technology and operational excellence, IQVIA is dedicated to accelerating the development and commercialization of innovative medical treatments to help improve patient outcomes and population health worldwide.

IQVIA is a global leader in protecting individual patient privacy. The company uses a wide variety of privacy-enhancing technologies and safeguards to protect individual privacy while generating and analyzing information on a scale that helps healthcare stakeholders identify disease patterns and correlate with the precise treatment path and therapy needed for better outcomes. IQVIA’s insights and execution capabilities help biotech, medical device and pharmaceutical companies, medical researchers, government agencies, payers and other healthcare stakeholders tap into a deeper understanding of diseases, human behaviors and scientific advances, in an effort to advance their path toward cures. To learn more, visit www.iqvia.com.

Cautionary Statements Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, without limitation, our full-year 2024 guidance. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as “expect,” “assume,” “anticipate,” “intend,” “plan,” “forecast,” “believe,” “seek,” “see,” “will,” “would,” “target,” similar expressions, and variations or negatives of these words that are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from our expectations due to a number of factors, including, but not limited to, the following: business disruptions caused by natural disasters, pandemics such as the COVID-19 (coronavirus) outbreak, including any variants, and the public health policy responses to the outbreak, and international conflicts or other disruptions outside of our control such as the current situation in Ukraine and Russia; most of our contracts may be terminated on short notice, and we may lose or experience delays with large client contracts or be unable to enter into new contracts; the market for our services may not grow as we expect; we may be unable to successfully develop and market new services or enter new markets; imposition of restrictions on our use of data by data suppliers or their refusal to license data to us; any failure by us to comply with contractual, regulatory or ethical requirements under our contracts, including current or future changes to data protection and privacy laws; breaches or misuse of our or our outsourcing partners’ security or communications systems; failure to meet our productivity or business transformation objectives; failure to successfully invest in growth opportunities; our ability to protect our intellectual property rights and our susceptibility to claims by others that we are infringing on their intellectual property rights; the expiration or inability to acquire third party licenses for technology or intellectual property; any failure by us to accurately and timely price and formulate cost estimates for contracts, or to document change orders; hardware and software failures, delays in the operation of our computer and communications systems or the failure to implement system enhancements; the rate at which our backlog converts to revenue; our ability to acquire, develop and implement technology necessary for our business; consolidation in the industries in which our clients operate; risks related to client or therapeutic concentration; government regulators or our customers may limit the number or scope of indications for medicines and treatments or withdraw products from the market, and government regulators may impose new regulatory requirements or may adopt new regulations affecting the biopharmaceutical industry; the risks associated with operating on a global basis, including currency or exchange rate fluctuations and legal compliance, including anti-corruption laws; risks related to changes in accounting standards; general economic conditions in the markets in which we operate, including financial market conditions, inflation, and risks related to sales to government entities; the impact of changes in tax laws and regulations; and our ability to successfully integrate, and achieve expected benefits from, our acquired businesses. For a further discussion of the risks relating to our business, see the “Risk Factors” in our annual report on Form 10-K for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission (the "SEC"), as such factors may be amended or updated from time to time in our subsequent periodic and other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in our filings with the SEC. We assume no obligation to update any such forward-looking statement after the date of this release, whether as a result of new information, future developments or otherwise.

Note on Non-GAAP Financial Measures

This release includes information based on financial measures that are not recognized under generally accepted accounting principles in the United States ("GAAP"), such as Adjusted EBITDA, Adjusted Net Income, Adjusted Diluted Earnings per Share, Gross Leverage Ratio, Net Leverage Ratio and Free Cash Flow. Non-GAAP financial measures are presented only as a supplement to the company’s financial statements based on GAAP. Non-GAAP financial information is provided to enhance understanding of the company’s financial performance, but none of these non-GAAP financial measures are recognized terms under GAAP, and non-GAAP measures should not be considered in isolation from, or as a substitute analysis for, the company’s results of operations as determined in accordance with GAAP. The company uses non-GAAP measures in its operational and financial decision making, and believes that it is useful to exclude certain items in order to focus on what it regards to be a more meaningful indicator of the underlying operating performance of the business. For example, the company excludes all the amortization of intangible assets associated with acquired customer relationships and backlog, databases, non-compete agreements, trademarks and trade names from non-GAAP expense and income measures as such amounts can be significantly impacted by the timing and size of acquisitions. Although we exclude amortization of acquired intangible assets from our non-GAAP expenses, we believe that it is important for investors to understand that revenue generated from such intangibles is included within revenue in determining net income. As a result, internal management reports feature non-GAAP measures which are also used to prepare strategic plans and annual budgets and review management compensation. The company also believes that investors may find non-GAAP financial measures useful for the same reasons, although investors are cautioned that non-GAAP financial measures are not a substitute for GAAP disclosures.

The non-GAAP financial measures are not presented in accordance with GAAP. Please refer to the schedules attached to this release for reconciliations of non-GAAP financial measures contained herein to the most directly comparable GAAP measures. Our full-year 2024 guidance measures (other than revenue) are provided on a non-GAAP basis without a reconciliation to the most directly comparable GAAP measure because the company is unable to predict with a reasonable degree of certainty certain items contained in the GAAP measures without unreasonable efforts. For the same reasons, the company is unable to address the probable significance of the unavailable information. Such items include, but are not limited to, acquisition related expenses, restructuring and related expenses, stock-based compensation and other items not reflective of the company's ongoing operations.

Non-GAAP measures are frequently used by securities analysts, investors and other interested parties in their evaluation of companies comparable to the company, many of which present non-GAAP measures when reporting their results. Non-GAAP measures have limitations as an analytical tool. They are not presentations made in accordance with GAAP, are not measures of financial condition or liquidity and should not be considered as an alternative to profit or loss for the period determined in accordance with GAAP or operating cash flows determined in accordance with GAAP. Non-GAAP measures are not necessarily comparable to similarly titled measures used by other companies. As a result, you should not consider such performance measures in isolation from, or as a substitute analysis for, the company’s results of operations as determined in accordance with GAAP.

IQVIAFIN

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Table 1

IQVIA HOLDINGS INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(preliminary and unaudited)


	Three Months Ended September 30,				Nine Months Ended September 30,
(in millions, except per share data)	2024		2023		2024		2023
Revenues	$	3,896	$	3,736	$	11,447	$	11,116
Cost of revenues, exclusive of depreciation and amortization	2,518		2,426		7,450		7,267
Selling, general and administrative expenses	522		502		1,539		1,497
Depreciation and amortization	278		297		811		809
Restructuring costs	28		30		71		67
Income from operations	550		481		1,576		1,476
Interest income	(13)		(14)		(36)		(24)
Interest expense	170		181		499		491

Other expense (income), net	44		(35)		(12)		(77)
Income before income taxes and equity in earnings of unconsolidated affiliates	349		349		1,125		1,086
Income tax expense	65		51		189		203
Income before equity in earnings of unconsolidated affiliates	284		298		936		883
Equity in earnings of unconsolidated affiliates	1		5		—		6
Net income	$	285	$	303	$	936	$	889
Earnings per share attributable to common stockholders:
Basic	$	1.57	$	1.66	$	5.14	$	4.82
Diluted	$	1.55	$	1.63	$	5.08	$	4.76
Weighted average common shares outstanding:
Basic	182.1		182.9		182.1		184.4
Diluted	184.2		185.5		184.3		186.9

Table 2

IQVIA HOLDINGS INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(preliminary and unaudited)


(in millions, except per share data)	September 30, 2024		December 31, 2023
ASSETS
Current assets:
Cash and cash equivalents	$	1,572	$	1,376
Trade accounts receivable and unbilled services, net	3,196		3,381
Prepaid expenses	195		141
Income taxes receivable	54		32
Investments in debt, equity and other securities	140		120
Other current assets and receivables	475		546
Total current assets	5,632		5,596
Property and equipment, net	513		523
Operating lease right-of-use assets	259		296
Investments in debt, equity and other securities	117		105
Investments in unconsolidated affiliates	203		134
Goodwill	15,091		14,567
Other identifiable intangibles, net	4,734		4,839
Deferred income taxes	164		166
Deposits and other assets, net	467		455
Total assets	$	27,180	$	26,681
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued expenses	$	3,434	$	3,564
Unearned income	1,824		1,799
Income taxes payable	161		116
Current portion of long-term debt	1,219		718
Other current liabilities	354		294
Total current liabilities	6,992		6,491
Long-term debt, less current portion	12,293		12,955
Deferred income taxes	128		202
Operating lease liabilities	188		223
Other liabilities	612		698
Total liabilities	20,213		20,569
Commitments and contingencies
Stockholders’ equity:
Common stock and additional paid-in capital, 400.0 shares authorized as of September 30, 2024 and December 31, 2023, $0.01 par value, 258.1 shares issued and 181.6 shares outstanding as of September 30, 2024; 257.2 shares issued and 181.5 shares outstanding as of December 31, 2023	11,106		11,028
Retained earnings	5,628		4,692
Treasury stock, at cost, 76.5 and 75.7 shares as of September 30, 2024 and December 31, 2023, respectively	(8,941)		(8,741)
Accumulated other comprehensive loss	(826)		(867)
Total stockholders’ equity	6,967		6,112
Total liabilities and stockholders’ equity	$	27,180	$	26,681

Table 3

IQVIA HOLDINGS INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(preliminary and unaudited)


	Nine Months Ended September 30,
(in millions)	2024		2023
Operating activities:
Net income	$	936	$	889
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	811		809
Amortization of debt issuance costs and discount	16		13
Stock-based compensation	158		172
Earnings from unconsolidated affiliates	—		(6)
Gain on investments, net	(29)		(5)
Benefit from deferred income taxes	(114)		(117)
Changes in operating assets and liabilities:
Change in accounts receivable, unbilled services and unearned income	259		(241)
Change in other operating assets and liabilities	(206)		(112)
Net cash provided by operating activities	1,831		1,402
Investing activities:
Acquisition of property, equipment and software	(438)		(470)
Acquisition of businesses, net of cash acquired	(649)		(869)
Purchases of marketable securities, net	—		(4)
Investments in unconsolidated affiliates, net of payments received	(68)		(16)
Investments in debt and equity securities	(2)		(36)
Proceeds from sale of property, equipment and software	25		—
Other	(2)		4
Net cash used in investing activities	(1,134)		(1,391)
Financing activities:
Proceeds from issuance of debt	—		1,250
Payment of debt issuance costs	—		(19)
Repayment of debt and principal payments on finance leases	(130)		(118)
Proceeds from revolving credit facility	685		2,009
Repayment of revolving credit facility	(785)		(2,184)
Payments related to employee stock incentive plans	(61)		(58)
Repurchase of common stock	(200)		(763)
Contingent consideration and deferred purchase price payments	(12)		(79)
Net cash (used in) provided by financing activities	(503)		38
Effect of foreign currency exchange rate changes on cash	2		(41)
Increase in cash and cash equivalents	196		8
Cash and cash equivalents at beginning of period	1,376		1,216
Cash and cash equivalents at end of period	$	1,572	$	1,224

Table 4

IQVIA HOLDINGS INC. AND SUBSIDIARIES

NET INCOME TO ADJUSTED EBITDA RECONCILIATION

(preliminary and unaudited)


	Three Months Ended September 30,				Nine Months Ended September 30,
(in millions)	2024		2023		2024		2023
Net Income	$	285	$	303	$	936	$	889
Provision for income taxes	65		51		189		203
Depreciation and amortization	278		297		811		809
Interest expense, net	157		167		463		467
Income in unconsolidated affiliates	(1)		(5)		—		(6)


Stock-based compensation	54		47		158		172
Other expense (income), net (1)	56		(40)		11		(92)

Restructuring and related expenses (2)	38		42		99		102
Acquisition related expenses	7		26		21		59
Adjusted EBITDA	$	939	$	888	$	2,688	$	2,603

(1) Reflects certain non-operating income items, revaluations of contingent consideration and certain non-recurring expenses.

(2) Reflects restructuring costs as well as accelerated expenses related to lease exits.

Table 5

IQVIA HOLDINGS INC. AND SUBSIDIARIES

NET INCOME TO ADJUSTED NET INCOME RECONCILIATION

(preliminary and unaudited)


	Three Months Ended September 30,				Nine Months Ended September 30,
(in millions, except per share data)	2024		2023		2024		2023
Net Income	$	285	$	303	$	936	$	889
Provision for income taxes	65		51		189		203
Purchase accounting amortization (1)	139		156		401		411
Income in unconsolidated affiliates	(1)		(5)		—		(6)


Stock-based compensation	54		47		158		172
Other expense (income), net (2)	56		(40)		11		(92)


Restructuring and related expenses (3)	38		42		99		102
Acquisition related expenses	7		26		21		59
Adjusted Pre Tax Income	$	643	$	580	$	1,815	$	1,738
Adjusted tax expense	(120)		(118)		(337)		(360)


Adjusted Net Income	$	523	$	462	$	1,478	$	1,378

Adjusted earnings per share attributable to common stockholders:
Basic	$	2.87	$	2.53	$	8.12	$	7.47
Diluted	$	2.84	$	2.49	$	8.02	$	7.37
Weighted average common shares outstanding:
Basic	182.1		182.9		182.1		184.4
Diluted	184.2		185.5		184.3		186.9

(1) Reflects all the amortization of acquired intangible assets.

(2) Reflects certain non-operating income items, revaluations of contingent consideration and certain non-recurring expenses.

(3) Reflects restructuring costs as well as accelerated expenses related to lease exits.

Table 6

IQVIA HOLDINGS INC. AND SUBSIDIARIES

NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW RECONCILIATION

(preliminary and unaudited)



(in millions)	Three Months Ended September 30, 2024		Nine Months Ended September 30, 2024
Net Cash provided by Operating Activities	$	721	$	1,831
Acquisition of property, equipment and software	(150)		(438)
Free Cash Flow	$	571	$	1,393

Table 7

IQVIA HOLDINGS INC. AND SUBSIDIARIES

CALCULATION OF GROSS AND NET LEVERAGE RATIOS

AS OF SEPTEMBER 30, 2024

(preliminary and unaudited)


(in millions)
Gross Debt, net of Unamortized Discount and Debt Issuance Costs, as of September 30, 2024	$	13,512
Net Debt as of September 30, 2024	$	11,940
Adjusted EBITDA for the twelve months ended September 30, 2024	$	3,654
Gross Leverage Ratio (Gross Debt/LTM Adjusted EBITDA)	3.70x
Net Leverage Ratio (Net Debt/LTM Adjusted EBITDA)	3.27x

Contacts:

Kerri Joseph, IQVIA Investor Relations (kerri.joseph@iqvia.com)

+1.610.244.3020