Q2 2024 IQVIA Holdings Inc Earnings Call Transcript
Key Points
- IQVIA Holdings Inc (IQV) reported a 5% revenue growth excluding the impact of foreign exchange and COVID-related work.
- Adjusted diluted earnings per share increased by 8.6% year over year.
- The company secured a record backlog of $30.6 billion, representing a 7.7% growth versus the prior year.
- IQVIA Holdings Inc (IQV) won several significant contracts, including a multiyear global implementation for a major division of a top five pharma client.
- The company continues to invest heavily in AI and machine learning, which has led to market-leading proprietary AI software solutions.
- Large pharma clients are exercising budgetary cautiousness, leading to tougher price negotiations.
- The EBITDA guidance was slightly lowered due to the mix of business offerings.
- There is continued pressure on pricing from large pharma clients, affecting both TAS and R&DS segments.
- The company experienced a decline in COVID-related revenues, which impacted overall growth.
- There were notable cancellations of clinical trials, which have affected the company's bookings.
Ladies and gentlemen, thank you for standing by. At this time, I would like to welcome everyone to the IQVIA second quarter 2024 earnings conference call. (Operator Instructions) As a reminder, this call is being recorded. Thank you. I would now like to turn the call over to Kerri Joseph, Senior Vice President, Investor Relations and Treasury. Mr. Joseph, please begin your conference.
Thank you, operator. Good morning, everyone. Thank you for joining our second quarter 2024 earnings call. With me today are Ari Bousbib, Chairman & Chief Executive Officer; Ron Bruehlman, Executive Vice President and Chief Financial Officer; Mike Fedock, Senior Vice President, Financial Planning and Analysis; and Gustavo Perrone, Senior Director, Investor Relations.
Today, we will be referencing a presentation that will be visible during this call for those of you on our webcast. This presentation will also be available following this call on the Events and Presentations
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