Stock Monitor: Psychemedics Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 23, 2018 / Active-Investors.com has just released a free earnings report on IQVIA Holdings Inc. (NYSE: IQV) ("IQVIA"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=IQV. The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on February 14, 2018. The provider of integrated information and technology-enabled healthcare services surpassed revenues and earnings estimates. Additionally, the Company provided its guidance for the upcoming quarter and fiscal year. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Psychemedics Corporation (NASDAQ: PMD), which also belongs to the Healthcare sector as the Company IQVIA Holdings. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, IQVIA Holdings most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/?symbol=IQV
Earnings Highlights and Summary
During Q4 2017, IQVIA's revenues increased 10.7% to $2.16 billion on a reported basis, and 8.4% on a constant currency basis, compared to $1.95 billion in Q4 2016. The Company's revenue numbers topped analysts' estimates by $20 million.
Formed through the merger of IMS Health Holdings, Inc. and Quintiles Transnational Holdings Inc. in October 2016, IQVIA's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) were $582 million in Q4 2017, up 8% compared to $541 million in Q4 2016.
During Q4 2017, IQVIA's GAAP net income was $1.08 billion, or $5.02 per diluted share, compared to a GAAP net loss of $174 million, or $0.74 loss per diluted share, in Q4 2016. In the reported quarter, and as a result of the Tax Cuts and Jobs Act 2017 (TCJA) enacted in December 2017, the Company revalued its deferred taxes at the lower US corporate tax rate and reversed its deferred tax liability on undistributed earnings net of the newly-enacted transition tax. This resulted in a provisional benefit of $977 million, or $4.56 per diluted share. IQVIA's adjusted earnings were $300 million, or $1.40 per diluted share, in Q4 2017. The Company's earnings numbers beat Wall Street's estimates of $1.34 per share.
For the full fiscal year 2017, IQVIA's revenues grew 4.3% to $8.06 billion on a reported basis, and 4.2% on a constant currency basis, compared to $5.36 billion in FY16.
For FY17, IQVIA posted a GAAP net income of $1.31 billion, or $5.88 per diluted share, compared to $115 million, or $0.76 per share, in FY16. The TCJA resulted in a provisional benefit of $977 million, or $4.39 per diluted share. The Company's adjusted net income was $1.04 billion, or $4.67 per diluted share, in FY17.
Segment Results
During Q4 2017, IQVIA's Commercial Solutions segment's revenues totaled $1.03 billion, reflecting a growth of 10.6% on a reported basis, or 7.8% on a constant currency basis. The Company's Research and Development Solutions segment's revenues advanced 6.6% on a reported basis, or 5% on a constant currency basis, to $947 million. In Q4 2017, IQVIA's Integrated Engagement Services segment's revenues came in at $187 million, down 3.3% on a reported basis and 4.7% on a constant currency basis.
Financial Position
As of December 31, 2017, IQVIA's cash and cash equivalents were $959 million and debt was $10.23 billion, resulting in a net debt of $9.27 billion. At the end of Q4 2017, the Company's gross leverage ratio was 5.0 times, and net leverage ratio was 4.5 times on a trailing 12-month combined IQVIA's adjusted EBITDA.
On November 27, 2017, IQVIA repurchased $255 million of stock from its private equity sponsors. The Company also repurchased $114 million of its stock in the open market for a total repurchase of $369 million during the reported quarter. On February 14, 2018, IQVIA's Board of Directors authorized an increase of the post-merger share repurchase authorization of $1.5 billion to a total of $5.0 billion, with $1.7 billion authorization remaining.
Outlook
For the full year FY18, inclusive of the adoption of ASC 606, IQVIA expects revenues to be in the range of $10.00 billion to $10.20 billion; adjusted EBITDA to be in the band of $2.15 billion and $2.25 billion; and adjusted earnings per diluted share to be between $5.20 and $5.45.
For the first quarter of the fiscal year 2018, inclusive of the adoption of ASC 606, IQVIA expects revenues to be between $2.42 billion and $2.47 billion; adjusted EBITDA to be in the range of $520 million and $540 million; and adjusted earnings per diluted share to be in the band of $1.23 and $1.30.
Stock Performance Snapshot
March 22, 2018 - At Thursday's closing bell, IQVIA Holdings' stock declined 2.14%, ending the trading session at $101.88.
Volume traded for the day: 679.44 thousand shares.
Stock performance in the last month – up 2.13%; previous three-month period – up 0.61%; past twelve-month period – up 31.41%; and year-to-date – up 4.07%
After yesterday's close, IQVIA Holdings' market cap was at $21.12 billion.
Price to Earnings (P/E) ratio was at 68.01.
The stock is part of the Healthcare sector, categorized under the Medical Laboratories & Research industry.
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