IQVIA Lifts FY24 Earnings, Revenue View Above Market; Stock Up In Pre-market

(RTTNews) - IQVIA Holdings Inc. (IQV), a provider of advanced analytics, technology solutions, and clinical research services, on Monday raised its fiscal 2024 outlook for adjusted earnings and revenues.

In pre-market activity on the NYSE, IQVIA shares were gaining around 3.3 percent to trade at $232.

For fiscal 2024, the company now expects adjusted earnings per share between $11.10 and $11.30, higher than previously expected $10.95 to $11.25, which represented a growth of 7.4 percent to 10.3 percent from last year.

Adjusted EBITDA is now expected between $3.705 billion and $3.765 billion, compared to earlier estimate of $3.700 billion to $3.800 billion, which represented a growth of 3.7 to 6.5 percent.

Further, the company updated its full-year 2024 guidance for revenue to be between $15.425 billion and $15.525 billion, up from earlier expected $15.325 billion to $15.575 billion on a reported basis that represented a year-over-year growth of 2.3 percent to 3.9 percent.

Analysts on average expect the company to report earnings of $11.08 per share on revenues of $15.46 billion, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

In its second quarter, IQVIA's earnings increased from last year and beat the Street estimates. The company's bottom line totaled $363 million or $1.97 per share, compared with $297 million or $1.59 per share in last year's second quarter.

Adjusted earnings were $487 million or $2.64 per share for the period. Analysts had expected the company to earn $2.56 per share.

The company's revenue for the quarter rose 2.3 percent to $3.81 billion from $3.73 billion last year.

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