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IQVIA Holdings Inc. (IQV - Free Report) reported solid fourth-quarter 2021 results, wherein the company’s earnings as well as revenues surpassed the Zacks Consensus Estimate.
Adjusted earnings per share of $2.55 beat the consensus mark by 4.9% and improved 20.9% on a year-over-year basis. The reported figure exceeded the guided range of $2.37-$2.47.
Total revenues of $3.64 billion outpaced the consensus estimate by 1.2% and increased 10.2% year over year on a reported basis and 11.6% on constant-currency basis. The reported figure exceeded the guided range of $3.537-$3.612 billion.
Over the past year, shares of IQVIA have gained 24.5% against 61% decline of the industry it belongs to. The Zacks S&P 500 composite grew 12.2% in the same time frame.
Image Source: Zacks Investment Research
Let’s check out the numbers in detail:
Segmental Revenues
Revenues from Technology & Analytics Solutions totaled $1.49 billion, up 5% on a reported basis and 6.6% on a constant-currency basis.
Research & Development Solutions’ revenues of $1.94 billion increased 15.4% on a reported basis and 16.3% on a constant-currency basis.
Revenues from Contract Sales & Medical Solutions totaled $196 million, up 3.7% on a reported basis and 7.4% on a constant-currency basis.
Operating Performance
Adjusted EBITDA was $828 million, up 12.7% year over year.
IQVIA Holdings Inc. Price, Consensus and EPS Surprise
IQVIA exited fourth-quarter 2021 with cash and cash equivalents balance of $1.37 billion compared with $1.47 billion at the end of the prior quarter. Long-term debt was $12 billion compared with $12.1 billion at the end of the prior quarter.
The company generated $692 million of cash from operating activities in the reported quarter and CapEx was $184 million. Free cash flow was $508 million.
During the reported quarter, IQVIA repurchased shares worth $174 million. As of Dec 31, 2021, the company had nearly $523 million of its share-buyback authorization remaining.
On Feb 10, 2022, the company’s board announced an additional $2.0-billion share repurchase authorization, thereby bringing the remaining authorization to more than $2.5 billion.
First-Quarter 2022 Guidance
IQVIA expects first-quarter revenues in the range of $3.515-$3.575 billion. The current Zacks Consensus Estimate of $3.63 billion lies above the guidance.
Adjusted earnings per share are expected between $2.40 and $2.46. The Zacks Consensus Estimate of $2.42 lies within the guidance.
Adjusted EBITDA is anticipated between $800 million and $815 million.
2022 Guidance
For the full year, IQVIA expects revenues in the band of $14.7-$15 billion. The current Zacks Consensus Estimate of $14.89 billion lies within the guidance.
Adjusted earnings per share are expected between $9.95 and $10.25. The current Zacks Consensus Estimate of $10.10 lies within the guidance.
Adjusted EBITDA is anticipated between $3.330 billion and $3.405 billion.
Robert Half International (RHI - Free Report) delivered impressive fourth-quarter 2021 results, with earnings and revenues beating the Zacks Consensus Estimate.
Robert Half’s quarterly earnings of $1.51 per share beat the consensus mark by 5.6% and rose 79.8% year over year.
Robert Half’s revenues of $1.77 billion surpassed the consensus mark by 4.3% and increased 36.2% year over year on a reported basis and 36% on an as-adjusted basis.
ADP’s adjusted earnings per share of $1.65 beat the Zacks Consensus Estimate by 1.2% and rose 9% year over year.
ADP’s total revenues of $4.03 billion beat the consensus mark by 1.1% and improved 9% year over year on a reported basis as well as on an organic constant-currency basis.
Rollins (ROL - Free Report) reported mixed fourth-quarter 2021 results, with earnings meeting the Zacks Consensus Estimate and revenues beating the same.
Rollins’ adjusted earnings of 14 cents per share meet the Zacks Consensus Estimate and increased 7.7% year over year.
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IQVIA (IQV) Q4 Earnings & Revenues Beat Estimates, Rise Y/Y
IQVIA Holdings Inc. (IQV - Free Report) reported solid fourth-quarter 2021 results, wherein the company’s earnings as well as revenues surpassed the Zacks Consensus Estimate.
Adjusted earnings per share of $2.55 beat the consensus mark by 4.9% and improved 20.9% on a year-over-year basis. The reported figure exceeded the guided range of $2.37-$2.47.
Total revenues of $3.64 billion outpaced the consensus estimate by 1.2% and increased 10.2% year over year on a reported basis and 11.6% on constant-currency basis. The reported figure exceeded the guided range of $3.537-$3.612 billion.
Over the past year, shares of IQVIA have gained 24.5% against 61% decline of the industry it belongs to. The Zacks S&P 500 composite grew 12.2% in the same time frame.
Let’s check out the numbers in detail:
Segmental Revenues
Revenues from Technology & Analytics Solutions totaled $1.49 billion, up 5% on a reported basis and 6.6% on a constant-currency basis.
Research & Development Solutions’ revenues of $1.94 billion increased 15.4% on a reported basis and 16.3% on a constant-currency basis.
Revenues from Contract Sales & Medical Solutions totaled $196 million, up 3.7% on a reported basis and 7.4% on a constant-currency basis.
Operating Performance
Adjusted EBITDA was $828 million, up 12.7% year over year.
IQVIA Holdings Inc. Price, Consensus and EPS Surprise
IQVIA Holdings Inc. price-consensus-eps-surprise-chart | IQVIA Holdings Inc. Quote
Balance Sheet and Cash Flow
IQVIA exited fourth-quarter 2021 with cash and cash equivalents balance of $1.37 billion compared with $1.47 billion at the end of the prior quarter. Long-term debt was $12 billion compared with $12.1 billion at the end of the prior quarter.
The company generated $692 million of cash from operating activities in the reported quarter and CapEx was $184 million. Free cash flow was $508 million.
During the reported quarter, IQVIA repurchased shares worth $174 million. As of Dec 31, 2021, the company had nearly $523 million of its share-buyback authorization remaining.
On Feb 10, 2022, the company’s board announced an additional $2.0-billion share repurchase authorization, thereby bringing the remaining authorization to more than $2.5 billion.
First-Quarter 2022 Guidance
IQVIA expects first-quarter revenues in the range of $3.515-$3.575 billion. The current Zacks Consensus Estimate of $3.63 billion lies above the guidance.
Adjusted earnings per share are expected between $2.40 and $2.46. The Zacks Consensus Estimate of $2.42 lies within the guidance.
Adjusted EBITDA is anticipated between $800 million and $815 million.
2022 Guidance
For the full year, IQVIA expects revenues in the band of $14.7-$15 billion. The current Zacks Consensus Estimate of $14.89 billion lies within the guidance.
Adjusted earnings per share are expected between $9.95 and $10.25. The current Zacks Consensus Estimate of $10.10 lies within the guidance.
Adjusted EBITDA is anticipated between $3.330 billion and $3.405 billion.
Currently, IQVIA carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Business Services Companies
Robert Half International (RHI - Free Report) delivered impressive fourth-quarter 2021 results, with earnings and revenues beating the Zacks Consensus Estimate.
Robert Half’s quarterly earnings of $1.51 per share beat the consensus mark by 5.6% and rose 79.8% year over year.
Robert Half’s revenues of $1.77 billion surpassed the consensus mark by 4.3% and increased 36.2% year over year on a reported basis and 36% on an as-adjusted basis.
Automatic Data Processing (ADP - Free Report) reported better-than-expected second-quarter fiscal 2022 results.
ADP’s adjusted earnings per share of $1.65 beat the Zacks Consensus Estimate by 1.2% and rose 9% year over year.
ADP’s total revenues of $4.03 billion beat the consensus mark by 1.1% and improved 9% year over year on a reported basis as well as on an organic constant-currency basis.
Rollins (ROL - Free Report) reported mixed fourth-quarter 2021 results, with earnings meeting the Zacks Consensus Estimate and revenues beating the same.
Rollins’ adjusted earnings of 14 cents per share meet the Zacks Consensus Estimate and increased 7.7% year over year.