IQVIA said revenue for Q1 2024 rose $85 million (2.3%) from the year-earlier period. The company said constant currency growth was about $105 million (2.9%).

10-QQuarterly reportFiled May 2, 2024Period of report Mar 31, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

IQVIA said revenue for Q1 2024 rose $85 million (2.3%) from the year-earlier period. The company said constant currency growth was about $105 million (2.9%).
The company said Research & Development Solutions revenue rose $69 million (3.4%) to $2,095 million for Q1 2024 from the year-earlier period. It said contracted backlog went from $29.7 billion as of December 31, 2023 to $30.1 billion as of March 31, 2024, and that it expects about $7.7 billion of this backlog to convert to revenue within the next 12 months.
The company said its effective income tax rate was 14.4% for Q1 2024 and 19.6% for Q1 2023. It said the change in the geographic mix of earnings between U.S. and foreign tax jurisdictions favorably affected the tax rate. The company said interest expense rose mainly due to higher base rate interest costs on its floating rate debt and an increase in its net debt.
The company said its cash balance as of March 31, 2024 was $1,444 million, of which $567 million was in the United States, up from $1,376 million as of December 31, 2023. It said total indebtedness as of the same date was $13,611 million, and that the $1,895 million of additional available borrowings under its revolving credit facility was excluded from that amount.

Key figures

Quarter ended March 31, 2024

Revenue: $3.7B
Operating income: $506M
Net income: $288M
EPS: $1.56
Gross profit: $827M
Operating cash flow: $522M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Revenue Rises in Q1 2024

IQVIA said revenue for Q1 2024 rose $85 million (2.3%) from the year-earlier period. The company said constant currency growth was about $105 million (2.9%).

Source · Based on the MD&A text of the filing

Research & Development Solutions Revenue and Contracted Backlog

The company said Research & Development Solutions revenue rose $69 million (3.4%) to $2,095 million for Q1 2024 from the year-earlier period. It said contracted backlog went from $29.7 billion as of December 31, 2023 to $30.1 billion as of March 31, 2024, and that it expects about $7.7 billion of this backlog to convert to revenue within the next 12 months.

Source · Based on the MD&A text of the filing

Effective Tax Rate and Interest Expense Changes

The company said its effective income tax rate was 14.4% for Q1 2024 and 19.6% for Q1 2023. It said the change in the geographic mix of earnings between U.S. and foreign tax jurisdictions favorably affected the tax rate. The company said interest expense rose mainly due to higher base rate interest costs on its floating rate debt and an increase in its net debt.

Source · Based on the MD&A text of the filing

Cash Balance and Total Indebtedness

The company said its cash balance as of March 31, 2024 was $1,444 million, of which $567 million was in the United States, up from $1,376 million as of December 31, 2023. It said total indebtedness as of the same date was $13,611 million, and that the $1,895 million of additional available borrowings under its revolving credit facility was excluded from that amount.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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