IQVIA Reaffirms Its Second-Quarter and Full-Year 2018 Guidance, Including Adjusted EPS Growth of 13.6% to 20.4% and 14.3% to 19.9%, Respectively

DANBURY, Conn. & RESEARCH TRIANGLE PARK, N.C.–(BUSINESS WIRE)–IQVIA Holdings Inc. (“IQVIA”) (NYSE: IQV), a leading global provider of
advanced analytics, technology solutions, and contract research services
to the life sciences industry, today reaffirmed its second-quarter and
full-year 2018 guidance previously provided on May 2nd.

Specifically, for the second quarter, IQVIA reaffirms its guidance
provided in the table below.

($ millions, except per share data)

                 

Second-Quarter

2017 Recast(1)

     

Second-Quarter

2018 Guidance

     

VPY %

Revenue                   $2,355       $2,470 – $2,520       4.9% – 7.0%
 
Adjusted EBITDA $467 $510 – $530 9.2% – 13.5%
 
Adjusted Diluted EPS                   $1.03       $1.17 – $1.24       13.6% – 20.4%  

1. Recast under ASC 606 “Revenue from Contracts with Customers.”

 

The company also reiterates its full-year 2018 revenue guidance range of
$10,050 million to $10,250, Adjusted EBITDA of $2,150 million to $2,220
million and Adjusted Diluted Earnings per Share of $5.20 to $5.45,
representing 14.3% to 19.9% year-over-year growth.

Second quarter and full-year 2018 guidance assumes foreign currency
exchange rates used in our May 2nd release remain in effect
for the remainder of the year.

About IQVIA

IQVIA (NYSE: IQV) is a leading global provider of advanced analytics,
technology solutions, and contract research services to the life
sciences industry. Formed through the merger of IMS Health and
Quintiles, IQVIA applies human data science — leveraging the analytic
rigor and clarity of data science to the ever-expanding scope of human
science — to enable companies to reimagine and develop new approaches to
clinical development and commercialization, speed innovation, and
accelerate improvements in healthcare outcomes. Powered by the IQVIA
CORE™, IQVIA delivers unique and actionable insights at the intersection
of large-scale analytics, transformative technology and extensive domain
expertise, as well as execution capabilities. With more than 55,000
employees, IQVIA conducts operations in more than 100 countries.

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
2018 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,” “anticipate,”
“intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “target,”
similar expressions, and variations or negatives of these words. Actual
results may differ materially from our expectations due to a number of
factors, including, but not limited to, the following: 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; 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 changes to data protection and privacy
laws; breaches or misuse of our or our outsourcing partners’ security or
communications systems; hardware and software failures, delays in the
operation of our computer and communications systems or the failure to
implement system enhancements; 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; 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; 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, including the impact of the changes to the revenue
recognition standards; general economic conditions in the markets in
which we operate, including financial market conditions 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 the combined company’s business, see
the “Risk Factors” in our annual report on Form 10-K for the fiscal year
ended December 31, 2017, filed with 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

Non-GAAP measures, such as Adjusted EBITDA and Adjusted Diluted EPS 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. Definitions of non-GAAP measures are
provided within the schedules attached to our earnings release dated May
2, 2018. 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. 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.

Our 2018 guidance measures (other than revenue) are provided on a
non-GAAP basis because the company is unable to reasonably predict
certain items contained in the GAAP measures. Such items include, but
are not limited to, acquisition and integration related expenses,
restructuring and related charges, 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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Contacts

IQVIA Holdings Inc.
Investor Relations:
Andrew Markwick,
973-257-7144
andrew.markwick@iqvia.com
or
Media
Relations:
Tor Constantino, 484-567-6732
tor.constantino@iqvia.com