IQVIA reports a ‘robust’ quarter with ‘strong organic revenue growth’

DURHAM – IQVIA Holdings Inc. (IQV) on Thursday reported third-quarter profit of $261 million.

“We delivered another quarter of strong organic revenue growth as well as robust earnings and free cash flow,” said Ari Bousbib, chairman and CEO of IQVIA. “We exceeded our financial targets across the board, with all segments delivering strong growth. As a result of this performance, we are once again raising our full-year 2021 financial guidance. Our strong book of business across the company sets us up well to sustain our momentum into next year and beyond.”

On a per-share basis, the Durham-based life science company said it had net income of $1.34. Earnings, adjusted for one-time gains and costs, were $2.17 per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.13 per share.

The clinical testing company posted revenue of $3.39 billion in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $3.36 billion.

For the current quarter ending in December, IQVIA expects its per-share earnings to range from $2.37 to $2.47.

The company said it expects revenue in the range of $3.54 billion to $3.61 billion for the fiscal fourth quarter.

IQVIA expects full-year earnings in the range of $8.85 to $8.95 per share, with revenue ranging from $13.78 billion to $13.85 billion.

For more on earnings, read the IQVIA report online.