Book Online or Call 1-855-SAUSALITO

Sign In  |  Register  |  About Sausalito  |  Contact Us

Sausalito, CA
September 01, 2020 1:41pm
7-Day Forecast | Traffic
  • Search Hotels in Sausalito

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

IQVIA Reports Second-Quarter 2024 Results

  • Revenue of $3,814 million
  • GAAP Net Income of $363 million, Adjusted EBITDA of $887 million
  • GAAP Diluted Earnings per Share of $1.97, Adjusted Diluted Earnings per Share of $2.64
  • R&D Solutions quarterly bookings of $2.7 billion, representing a book-to-bill ratio of 1.27x
  • R&D Solutions contracted backlog of $30.6 billion, up 7.7 percent reported and 8.1 percent at constant currency year-over-year
  • Full-year 2024 guidance updated for revenue to be between $15,425 million and $15,525 million, Adjusted EBITDA between $3,705 million and $3,765 million, and Adjusted Diluted Earnings per Share between $11.10 and $11.30

IQVIA Holdings Inc. (“IQVIA”) (NYSE:IQV), a leading global provider of advanced analytics, technology solutions, and clinical research services to the life sciences industry, today reported financial results for the quarter ended June 30, 2024.

Second-Quarter 2024 Operating Results

Revenue for the second quarter of $3,814 million increased 2.3 percent on a reported basis and 3.5 percent at constant currency, compared to the second quarter of 2023. Technology & Analytics Solutions (TAS) revenue of $1,495 million increased 2.7 percent on a reported basis and 3.8 percent at constant currency. Research & Development Solutions (R&DS) revenue of $2,147 million increased 2.4 percent on a reported basis and 3.3 percent at constant currency. Excluding the impact of pass throughs, R&DS revenue grew 3.5 percent on a reported basis. Contract Sales & Medical Solutions (CSMS) revenue of $172 million decreased 2.3 percent on a reported basis and increased 2.8 percent at constant currency.

As of June 30, 2024, R&DS contracted backlog, including reimbursed expenses, was $30.6 billion, growing 7.7 percent year-over-year and 8.1 percent at constant currency. The company expects approximately $7.8 billion of this backlog to convert to revenue in the next twelve months. The second-quarter book-to-bill ratio was 1.27x. For the twelve months ended June 30, 2024, the book-to-bill ratio was 1.26x.

“IQVIA delivered second quarter results at the high-end of our guidance, driven mainly by better-than-expected TAS performance," stated Ari Bousbib, chairman and CEO of IQVIA. "The team is focused on strong operational execution. In the quarter, profit margin expanded, free cash flow was strong, and Adjusted Diluted EPS grew 8.6 percent. The R&DS segment continued to perform well and again delivered strong bookings, reflecting demand for IQVIA’s highly differentiated solutions. Forward-looking indicators, such as RFP flow and qualified pipeline, remain healthy. TAS performance in the quarter provides a smoother path to our full-year total company and segment targets."

Second-quarter GAAP Net Income was $363 million and GAAP Diluted Earnings per Share was $1.97. Adjusted Net Income was $487 million and Adjusted Diluted Earnings per Share was $2.64. Adjusted EBITDA was $887 million, up 2.7 percent year-over-year.

First-Half 2024 Operating Results

Revenue for the first six months of 2024 was $7,551 million, up 2.3 percent on a reported basis and 3.2 percent at constant currency, compared to the first six months of 2023. TAS revenue was $2,948 million, representing growth of 1.7 percent on a reported basis and 2.4 percent at constant currency. R&DS revenue was $4,242 million, up 2.9 percent on a reported basis and 3.6 percent at constant currency. CSMS revenue was $361 million, up 0.8 percent on a reported basis and 5.0 percent at constant currency.

GAAP Net Income was $651 million and GAAP Diluted Earnings per Share was $3.53. Adjusted Net Income was $955 million and Adjusted Diluted Earnings per Share was $5.18. Adjusted EBITDA was $1,749 million.

Financial Position

As of June 30, 2024, cash and cash equivalents were $1,545 million and debt was $13,258 million, resulting in net debt of $11,713 million. IQVIA’s Net Leverage Ratio was 3.25x trailing twelve-month Adjusted EBITDA. For the second quarter, Operating Cash Flow was $588 million and Free Cash Flow was $445 million.

Full-Year 2024 Guidance

The company updated its full-year 2024 guidance for revenue to be between $15,425 million and $15,525 million, Adjusted EBITDA between $3,705 million and $3,765 million, and Adjusted Diluted Earnings per Share between $11.10 and $11.30.

All financial guidance assumes foreign currency exchange rates as of July 18, 2024 remain in effect for the forecast period.

Webcast & Conference Call Details

IQVIA will host a conference call at 9:00 a.m. Eastern Time today to discuss its second-quarter 2024 results and its third-quarter and full-year 2024 guidance. To listen to the event and view the presentation slides via webcast, join from the IQVIA Investor Relations website at http://ir.iqvia.com. To participate in the conference call, interested parties must register in advance by clicking on this link. Following registration, participants will receive a confirmation email containing details on how to join the conference call, including the dial-in and a unique passcode and registrant ID. At the time of the live event, registered participants connect to the call using the information provided in the confirmation email and will be placed directly into the call.

About IQVIA

IQVIA (NYSE:IQV) is a leading global provider of advanced analytics, technology solutions, and clinical research services to the life sciences industry. IQVIA creates intelligent connections across all aspects of healthcare through its analytics, transformative technology, big data resources, extensive domain expertise and network of partners. IQVIA Connected Intelligence™ delivers actionable insights and powerful solutions with speed and agility — enabling customers to accelerate the clinical development and commercialization of innovative medical treatments that improve healthcare outcomes for patients. With approximately 88,000 employees, IQVIA conducts operations in more than 100 countries.

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

 

Table 1

IQVIA HOLDINGS INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(preliminary and unaudited)

 

 

 

 

 

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

(in millions, except per share data)

 

2024

 

2023

 

2024

 

2023

Revenues

 

$

3,814

 

 

$

3,728

 

 

$

7,551

 

 

$

7,380

 

Cost of revenues, exclusive of depreciation and amortization

 

 

2,488

 

 

 

2,443

 

 

 

4,932

 

 

 

4,841

 

Selling, general and administrative expenses

 

 

509

 

 

 

482

 

 

 

1,017

 

 

 

995

 

Depreciation and amortization

 

 

269

 

 

 

259

 

 

 

533

 

 

 

512

 

Restructuring costs

 

 

28

 

 

 

20

 

 

 

43

 

 

 

37

 

Income from operations

 

 

520

 

 

 

524

 

 

 

1,026

 

 

 

995

 

Interest income

 

 

(12

)

 

 

(4

)

 

 

(23

)

 

 

(10

)

Interest expense

 

 

163

 

 

 

169

 

 

 

329

 

 

 

310

 

Other income, net

 

 

(67

)

 

 

(16

)

 

 

(56

)

 

 

(42

)

Income before income taxes and equity in earnings (losses) of unconsolidated affiliates

 

 

436

 

 

 

375

 

 

 

776

 

 

 

737

 

Income tax expense

 

 

75

 

 

 

81

 

 

 

124

 

 

 

152

 

Income before equity in earnings (losses) of unconsolidated affiliates

 

 

361

 

 

 

294

 

 

 

652

 

 

 

585

 

Equity in earnings (losses) of unconsolidated affiliates

 

 

2

 

 

 

3

 

 

 

(1

)

 

 

1

 

Net income

 

$

363

 

 

$

297

 

 

$

651

 

 

$

586

 

Earnings per share attributable to common stockholders:

 

 

 

 

 

 

 

 

Basic

 

$

1.99

 

 

$

1.61

 

 

$

3.58

 

 

$

3.17

 

Diluted

 

$

1.97

 

 

$

1.59

 

 

$

3.53

 

 

$

3.12

 

Weighted average common shares outstanding:

 

 

 

 

 

 

 

 

Basic

 

 

182.2

 

 

 

184.4

 

 

 

182.0

 

 

 

185.1

 

Diluted

 

 

184.3

 

 

 

186.7

 

 

 

184.3

 

 

 

187.6

 

 

Table 2

IQVIA HOLDINGS INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(preliminary and unaudited)

 

 

 

 

 

(in millions, except per share data)

 

June 30, 2024

 

December 31, 2023

ASSETS

 

 

 

 

Current assets:

 

 

 

 

Cash and cash equivalents

 

$

1,545

 

 

$

1,376

 

Trade accounts receivable and unbilled services, net

 

 

3,255

 

 

 

3,381

 

Prepaid expenses

 

 

191

 

 

 

141

 

Income taxes receivable

 

 

41

 

 

 

32

 

Investments in debt, equity and other securities

 

 

133

 

 

 

120

 

Other current assets and receivables

 

 

457

 

 

 

546

 

Total current assets

 

 

5,622

 

 

 

5,596

 

Property and equipment, net

 

 

503

 

 

 

523

 

Operating lease right-of-use assets

 

 

265

 

 

 

296

 

Investments in debt, equity and other securities

 

 

106

 

 

 

105

 

Investments in unconsolidated affiliates

 

 

181

 

 

 

134

 

Goodwill

 

 

14,477

 

 

 

14,567

 

Other identifiable intangibles, net

 

 

4,608

 

 

 

4,839

 

Deferred income taxes

 

 

158

 

 

 

166

 

Deposits and other assets, net

 

 

478

 

 

 

455

 

Total assets

 

$

26,398

 

 

$

26,681

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

 

Current liabilities:

 

 

 

 

Accounts payable and accrued expenses

 

$

3,313

 

 

$

3,564

 

Unearned income

 

 

1,811

 

 

 

1,799

 

Income taxes payable

 

 

185

 

 

 

116

 

Current portion of long-term debt

 

 

1,167

 

 

 

718

 

Other current liabilities

 

 

144

 

 

 

294

 

Total current liabilities

 

 

6,620

 

 

 

6,491

 

Long-term debt, less current portion

 

 

12,091

 

 

 

12,955

 

Deferred income taxes

 

 

149

 

 

 

202

 

Operating lease liabilities

 

 

192

 

 

 

223

 

Other liabilities

 

 

632

 

 

 

698

 

Total liabilities

 

 

19,684

 

 

 

20,569

 

Commitments and contingencies

 

 

 

 

Stockholders’ equity:

 

 

 

 

Common stock and additional paid-in capital, 400.0 shares authorized as of June 30, 2024 and December 31, 2023, $0.01 par value, 258.0 shares issued and 182.3 shares outstanding as of June 30, 2024; 257.2 shares issued and 181.5 shares outstanding as of December 31, 2023

 

 

11,061

 

 

 

11,028

 

Retained earnings

 

 

5,343

 

 

 

4,692

 

Treasury stock, at cost, 75.7 and 75.7 shares as of June 30, 2024 and December 31, 2023, respectively

 

 

(8,741

)

 

 

(8,741

)

Accumulated other comprehensive loss

 

 

(949

)

 

 

(867

)

Total stockholders’ equity

 

 

6,714

 

 

 

6,112

 

Total liabilities and stockholders’ equity

 

$

26,398

 

 

$

26,681

 

 

Table 3

IQVIA HOLDINGS INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(preliminary and unaudited)

 

 

 

Six Months Ended June 30,

(in millions)

 

2024

 

2023

Operating activities:

 

 

 

 

Net income

 

$

651

 

 

$

586

 

Adjustments to reconcile net income to cash provided by operating activities:

 

 

 

 

Depreciation and amortization

 

 

533

 

 

 

512

 

Amortization of debt issuance costs and discount

 

 

11

 

 

 

8

 

Stock-based compensation

 

 

104

 

 

 

125

 

Losses (earnings) from unconsolidated affiliates

 

 

1

 

 

 

(1

)

Gain on investments, net

 

 

(12

)

 

 

(10

)

Benefit from deferred income taxes

 

 

(80

)

 

 

(70

)

Changes in operating assets and liabilities:

 

 

 

 

Change in accounts receivable, unbilled services and unearned income

 

 

187

 

 

 

(134

)

Change in other operating assets and liabilities

 

 

(285

)

 

 

(197

)

Net cash provided by operating activities

 

 

1,110

 

 

 

819

 

Investing activities:

 

 

 

 

Acquisition of property, equipment and software

 

 

(288

)

 

 

(324

)

Acquisition of businesses, net of cash acquired

 

 

(221

)

 

 

(444

)

Purchases of marketable securities, net

 

 

 

 

 

(4

)

Investments in unconsolidated affiliates, net of payments received

 

 

(49

)

 

 

(13

)

Investments in debt and equity securities

 

 

(2

)

 

 

(36

)

Proceeds from sale of property, equipment and software

 

 

25

 

 

 

 

Other

 

 

 

 

 

3

 

Net cash used in investing activities

 

 

(535

)

 

 

(818

)

Financing activities:

 

 

 

 

Proceeds from issuance of debt

 

 

 

 

 

1,250

 

Payment of debt issuance costs

 

 

 

 

 

(18

)

Repayment of debt and principal payments on finance leases

 

 

(86

)

 

 

(77

)

Proceeds from revolving credit facility

 

 

375

 

 

 

1,559

 

Repayment of revolving credit facility

 

 

(585

)

 

 

(1,784

)

Payments related to employee stock incentive plans

 

 

(60

)

 

 

(58

)

Repurchase of common stock

 

 

 

 

 

(619

)

Contingent consideration and deferred purchase price payments

 

 

(10

)

 

 

(71

)

Net cash (used in) provided by financing activities

 

 

(366

)

 

 

182

 

Effect of foreign currency exchange rate changes on cash

 

 

(40

)

 

 

(17

)

Increase in cash and cash equivalents

 

 

169

 

 

 

166

 

Cash and cash equivalents at beginning of period

 

 

1,376

 

 

 

1,216

 

Cash and cash equivalents at end of period

 

$

1,545

 

 

$

1,382

 

 

Table 4

IQVIA HOLDINGS INC. AND SUBSIDIARIES

NET INCOME TO ADJUSTED EBITDA RECONCILIATION

(preliminary and unaudited)

 

 

 

 

 

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

(in millions)

 

2024

 

2023

 

2024

 

2023

Net Income

 

$

363

 

 

$

297

 

 

$

651

 

 

$

586

 

Provision for income taxes

 

 

75

 

 

 

81

 

 

 

124

 

 

 

152

 

Depreciation and amortization

 

 

269

 

 

 

259

 

 

 

533

 

 

 

512

 

Interest expense, net

 

 

151

 

 

 

165

 

 

 

306

 

 

 

300

 

(Income) loss in unconsolidated affiliates

 

 

(2

)

 

 

(3

)

 

 

1

 

 

 

(1

)

Stock-based compensation

 

 

48

 

 

 

50

 

 

 

104

 

 

 

125

 

Other income, net (1)

 

 

(66

)

 

 

(37

)

 

 

(45

)

 

 

(52

)

Restructuring and related expenses (2)

 

 

39

 

 

 

30

 

 

 

61

 

 

 

60

 

Acquisition related expenses

 

 

10

 

 

 

22

 

 

 

14

 

 

 

33

 

Adjusted EBITDA

 

$

887

 

 

$

864

 

 

$

1,749

 

 

$

1,715

 

 

 

 

 

 

 

 

 

 

(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 June 30,

 

Six Months Ended June 30,

(in millions, except per share data)

 

2024

 

2023

 

2024

 

2023

Net Income

 

$

363

 

 

$

297

 

 

$

651

 

 

$

586

 

Provision for income taxes

 

 

75

 

 

 

81

 

 

 

124

 

 

 

152

 

Purchase accounting amortization (1)

 

 

133

 

 

 

132

 

 

 

262

 

 

 

255

 

(Income) loss in unconsolidated affiliates

 

 

(2

)

 

 

(3

)

 

 

1

 

 

 

(1

)

Stock-based compensation

 

 

48

 

 

 

50

 

 

 

104

 

 

 

125

 

Other income, net (2)

 

 

(66

)

 

 

(37

)

 

 

(45

)

 

 

(52

)

Restructuring and related expenses (3)

 

 

39

 

 

 

30

 

 

 

61

 

 

 

60

 

Acquisition related expenses

 

 

10

 

 

 

22

 

 

 

14

 

 

 

33

 

Adjusted Pre Tax Income

 

$

600

 

 

$

572

 

 

$

1,172

 

 

$

1,158

 

Adjusted tax expense

 

 

(113

)

 

 

(118

)

 

 

(217

)

 

 

(242

)

Adjusted Net Income

 

$

487

 

 

$

454

 

 

$

955

 

 

$

916

 

 

 

 

 

 

 

 

 

 

Adjusted earnings per share attributable to common stockholders:

 

 

 

 

 

 

 

 

Basic

 

$

2.67

 

 

$

2.46

 

 

$

5.25

 

 

$

4.95

 

Diluted

 

$

2.64

 

 

$

2.43

 

 

$

5.18

 

 

$

4.88

 

Weighted average common shares outstanding:

 

 

 

 

 

 

 

 

Basic

 

 

182.2

 

 

 

184.4

 

 

 

182.0

 

 

 

185.1

 

Diluted

 

 

184.3

 

 

 

186.7

 

 

 

184.3

 

 

 

187.6

 

 

(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

June 30, 2024

 

Six Months Ended

June 30, 2024

Net Cash provided by Operating Activities

 

$

588

 

 

$

1,110

 

Acquisition of property, equipment and software

 

 

(143

)

 

 

(288

)

Free Cash Flow

 

$

445

 

 

$

822

 

 

Table 7

IQVIA HOLDINGS INC. AND SUBSIDIARIES

CALCULATION OF GROSS AND NET LEVERAGE RATIOS

AS OF JUNE 30, 2024

(preliminary and unaudited)

 

(in millions)

 

 

Gross Debt, net of Unamortized Discount and Debt Issuance Costs, as of June 30, 2024

 

$

13,258

Net Debt as of June 30, 2024

 

$

11,713

 

Adjusted EBITDA for the twelve months ended June 30, 2024

 

$

3,603

 

Gross Leverage Ratio (Gross Debt/LTM Adjusted EBITDA)

 

 

3.68

x

Net Leverage Ratio (Net Debt/LTM Adjusted EBITDA)

 

 

3.25

x

 

Contacts

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Photos copyright by Jay Graham Photographer
Copyright © 2010-2020 Sausalito.com & California Media Partners, LLC. All rights reserved.