IQVIA Holdings Inc. Q1 FY2024 results: revenue $3.7 billion, up 2.3% on the year

IQVIA Holdings Inc. (IQV) reported revenue of $3.7 billion for Q1 FY2024, the quarter ended 31 March 2024, up 2.3% on the same quarter a year earlier. Net income was $288 million, down 0.3% on the year, and diluted earnings per share $1.56. The figures are the company's own, from the 10-Q it filed with the SEC on 2 May 2024.

Revenue$3.7 billionup 2.3%

Net income$288 milliondown 0.3%

Diluted EPS$1.56

QuarterQ1 FY2024ended 31 March 2024

The quarter, against the one before and a year earlier

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Revenue	3,737	3,868	n/a	n/a
Gross profit	827	n/a	n/a	n/a
Gross margin	22.1%	n/a	n/a
Selling, general and administrative	508	556	n/a	n/a
Operating income	506	501	n/a	n/a
Operating margin	13.5%	13.0%	n/a
Interest expense	166	181	n/a	n/a
Pre-tax income	340	373	n/a	n/a
Income tax	49.0	-102	n/a	n/a
Effective tax rate	14.4%	-27.3%	n/a
Net income	288	469	n/a	n/a
Net margin	7.7%	12.1%	n/a
Diluted EPS	$1.56	$2.54	n/a	n/a

$ million except per share. Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Operating cash flow	522	747	n/a	n/a
Capital expenditure	145	179	n/a	n/a
Free cash flow	377	568	n/a	n/a
Free cash flow margin	10.1%	14.7%	n/a
Depreciation and amortisation	264	316	n/a	n/a
Share-based compensation	56.0	45.0	n/a	n/a
Buybacks	0.0	229	n/a	n/a
Diluted shares, weighted	184m	186m	n/a	n/a
Shares outstanding at period end	182m	182m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Total assets	26,574	26,681	n/a	n/a
Cash and equivalents	1,444	1,376	n/a	n/a
Receivables	3,426	3,381	n/a	n/a
Goodwill	14,516	14,567	n/a	n/a
Long-term debt	12,819	12,955	n/a	n/a
Borrowings, as the company tags them	13,611	13,752	n/a	n/a
Operating lease liabilities	204	223	n/a	n/a
Finance lease liabilities	n/a	228	n/a	n/a
Shareholders' equity	6,344	6,112	n/a	n/a

Quarterly results, the last 12 quarters

	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026
Revenue	3,728	3,736	3,868	3,737	3,814	3,896	3,958	3,829	4,017	4,100	4,364	4,151
Gross profit	850	862	n/a	827	863	915	n/a	n/a	n/a	n/a	n/a	n/a
Gross margin	23%	23%	n/a	22%	23%	23%	n/a	n/a	n/a	n/a	n/a	n/a
SG&A	482	502	556	508	509	522	453	508	509	514	468	502
Operating income	524	481	501	506	520	550	626	496	506	553	627	514
Operating margin	14%	13%	13%	14%	14%	14%	16%	13%	13%	13%	14%	12%
Interest expense	169	181	181	166	163	170	171	165	182	189	193	192
Pre-tax income	375	349	373	340	436	349	544	323	323	408	537	328
Tax rate	22%	15%	-27%	14%	17%	19%	21%	19%	17%	19%	11%	18%
Net income	297	303	469	288	363	285	437	249	266	331	514	274
Net margin	8%	8%	12%	8%	10%	7%	11%	7%	7%	8%	12%	7%
Diluted EPS	$1.59	$1.63	$2.54	$1.56	$1.97	$1.55	$2.41	$1.40	$1.54	$1.93	$2.97	$1.61
Operating cash flow	402	583	747	522	588	721	885	568	443	908	735	618
Capital expenditure	160	146	179	145	143	150	164	142	151	136	174	127
Free cash flow	242	437	568	377	445	571	721	426	292	772	561	491
Buybacks	490	144	229	0.0	0.0	200	1,150	375	657	0.0	212	552
Shares outstanding	183m	182m	182m	182m	182m	182m	176m	174m	170m	170m	170m	167m
Filing	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 31 March 2024, filed 2 May 2024, accession 0001478242-24-000068: the filing on EDGAR. All of IQVIA Holdings Inc.'s filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install