IQVIA Holdings beats the Street on top- and bottom-lines
IQVIA Holdings, the world’s largest contract research organisation, reported earnings for the first quarter of 2019 last week, beating the Street’s estimates on top- and bottom-lines, and demonstrating a strong underlying business. That’s no surprise to investors, who seem to have felt confident in the company for some time: so far this year, IQVIA’s share price has widely outperformed both its industry and the market. As IQVIA continues to bring its information technology, laboratory services, and consultation practises to the healthcare industry, it looks like there’s no shortage of demand for its products.
IQVIA Holdings’ share price has appreciated by 21% so far this year – more than the market and the industry average
Source: Yahoo Finance
Here are the numbers: IQVIA delivered earnings of $1.53 per share for its first quarter – that’s a 14.2% increase against the first quarter of 2018, and a 2c beat against analysts’ expectations. Likewise, the company saw success regarding revenue. For the three months just gone, IQVIA said revenues totalled $2.68 billion – a 7.2% increase, on constant currency, year on year, basis, and a $22 million beat against consensus estimates.
Speaking on an earnings call, the company’s chairman and CEO, Ari Bousbib, praised “another quarter of strong performance,” that saw IQVIA report “results toward the high-end of our guidance range or above our guidance range for revenue, adjusted EBITDA, and adjusted diluted EPS.”
Bousbib also provided an update on IQVIA’s efforts to drum up new business: “Our tech team hosted over 300 clients IQVIA Technology Conference in Frankfurt, a few weeks ago. The conference brought CIOs and technology leaders from across the industry together to network and experience the software innovations IQVIA is driving for life sciences in both the clinical and the commercial areas. We were pleased to welcome, Steve Guise, the CIO of Roche Pharma, who compellingly described why Roche made the decision to standardize on the IQVIA platform, and how our solutions will help drive results.”
Dominion holds IQVIA in its Global Trends Managed Fund.
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