IQVIA Updates 2022 Revenue Guidance

(RTTNews) - While reporting first-quarter results on Wednesday, IQVIA Holdings Inc. (IQV) updated its 2022 revenue guidance range. The company now expects revenue to be between $14.45 billion and $14.75 billion. For full-year 2022, the company's expectation of low-to-mid teens organic revenue growth at constant currency, excluding COVID-related work, remains unchanged.

The company reaffirmed its full-year 2022 adjusted EBITDA guidance range of $3.33 billion to $3.405 billion and adjusted earnings per share guidance range of $9.95 to $10.25.

For the second quarter of 2022, the company expects revenue to be between $3.47 billion and $3.52 billion, with underlying organic revenue growth excluding COVID-related work of low-to-mid teens at constant currency. The company expects adjusted EBITDA to be between $790 million and $805 million, and adjusted earnings per share to be between $2.35 and $2.42.

First quarter adjusted earnings per share was $2.47, up 13.3 percent year-over-year. On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $2.42, for the quarter. Analysts' estimates typically exclude special items. Adjusted EBITDA was $812 million, up 9.1 percent.

GAAP net income was $325 million, up 53.3 percent year-over-year, and GAAP earnings per share was $1.68, up 54.1 percent.

Revenue for the first quarter was $3.57 billion, increased 4.7 percent on a reported basis and 6.8 percent at constant currency, from a year ago. Analysts on average had estimated $3.55 billion in revenue.