IQVIA 'Is A Solid Investment' With Strong Competitive Positioning, Analyst Says After Better Than Expected Q2 Earnings
IQVIA 'Is A Solid Investment' With Strong Competitive Positioning, Analyst Says After Better Than Expected Q2 Earnings
IQVIA Holdings Inc (NASDAQ:IQV) reported a second adjusted EPS of $2.64, up from $2.43, beating the consensus of $2.57.
IQVIA Holdings Inc（納斯達克股票代碼：IQV）報告稱，第二次調整後的每股收益爲2.64美元，高於2.57美元的共識。
Provider of advanced analytics reported sales of $3.81 billion, beating the consensus of $3.79 billion.
高級分析提供商報告的銷售額爲38.1億美元，超過市場預期的37.9億美元。
Sales increased 2.3% on a reported basis and 3.5% at constant currency compared to the second quarter of 2023.
與2023年第二季度相比，報告銷售額增長了2.3％，按固定匯率計算增長了3.5％。
Technology & Analytics Solutions (TAS) revenue of $1.5 billion increased 2.7% on a reported basis and 3.8% at constant currency.
根據報告，技術與分析解決方案（TAS）收入爲15億美元，增長2.7％，按固定匯率計算增長3.8％。
Research & Development Solutions (R&DS) revenue reached $2.15 billion, increasing 2.4% on a reported basis and 3.3% at constant currency.
研發解決方案（R&DS）收入達到21.5億美元，按報告計算增長2.4％，按固定匯率計算增長3.3％。
Excluding the impact of pass-throughs, R&DS revenue grew 3.5% on a reported basis.
不包括直通的影響，研發收入在報告基礎上增長了3.5％。
Contract Sales & Medical Solutions revenue of $172 million decreased 2.3% on a reported basis and increased 2.8% at constant currency.
根據報告，合同銷售和醫療解決方案收入爲1.72億美元，下降2.3％，按固定匯率計算增長2.8％。
As of June 30, 2024, R&DS contracted backlog, including reimbursed expenses, was $30.6 billion, growing 7.7% year-over-year and 8.1% at constant currency.
截至2024年6月30日，包括報銷費用在內的研發積壓合同爲306億美元，同比增長7.7％，按固定貨幣計算增長8.1％。
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.
該公司預計，在未來十二個月中，這些待辦事項中約有78億美元將轉化爲收入。第二季度的賬面賬單比率爲1.27倍。
"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.
IQVIA董事長兼首席執行官阿里·布斯比布表示：“IQVIA的第二季度業績達到了我們預期的高水平，這主要是由TAS業績好於預期的推動力。”
Guidance: IQVIA forecasts 2024 revenues of $15.43 billion—$15.53 billion, compared to prior guidance of $15.33 billion—$15.58 billion and a consensus of $15.46 billion.
指導：IQVIA預測2024年的收入爲154.3億美元至155.3億美元，而之前的預期爲153.3億美元至155.8億美元，共識爲154.6億美元。
IQVIA expects 2024 adjusted EPS of $11.10-$11.30 compared to prior guidance of $10.95-$11.25 and consensus of $11.08.
IQVIA預計，2024年調整後的每股收益爲11.10美元至11.30美元，而之前的預期爲10.95美元至11.25美元，共識爲11.08美元。
The provider of clinical research services expects 2024 adjusted EBITDA of $3.71 billion—$3.77 billion, versus prior guidance of $3.7 billion—$3.8 billion.
該臨床研究服務提供商預計，2024年調整後的息稅折舊攤銷前利潤爲37.1億美元至37.7億美元，而之前的預期爲37億美元至38億美元。
William Blair writes that IQVIA has underperformed so far in 2024 due to skepticism around the timing and pace of recovery in its TAS business.
威廉·布萊爾寫道，由於對其TAS業務復甦的時機和步伐持懷疑態度，IQVIA在2024年迄今表現不佳。
While R&DS sales and bookings came in slightly short of William Blair's expectations, overall, a 1.27 times book-to-bill ratio is still solid, and the analyst is encouraged by management's commentary that forward-looking indicators, such as RFP flow and qualified pipeline, remain healthy.
儘管研發銷售和預訂量略低於威廉·布萊爾的預期，但總體而言，1.27倍的賬面賬單比率仍然穩健，管理層評論說，RFP流量和合格渠道等前瞻性指標保持健康，這讓分析師感到鼓舞。
Overall, the analyst notes that IQVIA's strong competitive positioning and healthy R&DS business make the company a solid investment, especially given its attractive valuation (it currently trades at 18.0 times 2025EPS, roughly a turn below close peer ICON Plc (NASDAQ: ICLR)). William Blair reiterates an Outperform rating.
總體而言，分析師指出，IQVIA強大的競爭定位和健康的研發業務使該公司成爲一項穩健的投資，特別是考慮到其誘人的估值（其目前的交易價格爲2025年每股收益的18.0倍，大約低於接近同行ICON Plc（納斯達克股票代碼：ICLR））。威廉·布萊爾重申跑贏大盤的評級。
Price Action: IQV stock is up 5.88% at $237.77 at the last check on Monday.
價格走勢：在週一的最後一次支票中，IQV股價上漲5.88％，至237.77美元。
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