Clinical research company IQVIA (NYSE: IQV) will be reporting earnings this Tuesday morning. Here’s what investors should know.
IQVIA beat analysts’ revenue expectations by 1.2% last quarter, reporting revenues of $4.02 billion, up 5.3% year on year. It was a satisfactory quarter for the company, with full-year revenue guidance slightly topping analysts’ expectations but full-year EBITDA guidance meeting analysts’ expectations.
Is IQVIA a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting IQVIA’s revenue to grow 4.7% year on year to $4.08 billion, in line with the 4.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.98 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. IQVIA has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 0.9% on average.
Looking at IQVIA’s peers in the life sciences tools & services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. West Pharmaceutical Services delivered year-on-year revenue growth of 7.7%, beating analysts’ expectations by 2.1%, and Medpace reported revenues up 23.7%, topping estimates by 2.7%. West Pharmaceutical Services traded up 7.5% following the results while Medpace was also up 8.9%.
Read our full analysis of West Pharmaceutical Services’s results here and Medpace’s results here.
There has been positive sentiment among investors in the life sciences tools & services segment, with share prices up 7.6% on average over the last month. IQVIA is up 22% during the same time and is heading into earnings with an average analyst price target of $223.42 (compared to the current share price of $220.52).
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