Clinical research company IQVIA (NYSE: IQV) will be reporting earnings tomorrow before the bell. Here’s what to expect.
IQVIA beat analysts’ revenue expectations by 0.6% last quarter, reporting revenues of $3.96 billion, up 2.3% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ constant currency revenue estimates but full-year revenue guidance slightly missing analysts’ expectations.
Is IQVIA a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting IQVIA’s revenue to be flat year on year at $3.77 billion, slowing from the 2.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.63 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 0.8% on average.
Looking at IQVIA’s peers in the drug development inputs & services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Medpace delivered year-on-year revenue growth of 9.3%, beating analysts’ expectations by 6%, and West Pharmaceutical Services reported flat revenue, topping estimates by 2%. Medpace traded down 2.1% following the results while West Pharmaceutical Services was also down 1.6%.
Read our full analysis of Medpace’s results here and West Pharmaceutical Services’s results here.
There has been positive sentiment among investors in the drug development inputs & services segment, with share prices up 4.9% on average over the last month. IQVIA’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $216.55 (compared to the current share price of $153.48).
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