IQVIA Holdings Inc.
IQVIA Holdings Inc. Q2 FY26 Results — Earnings Call Analysis
Q2 FY26 earnings call: what management said on revenue, margins and capex.
What the Q2 FY26 call signalled
2 of 4 strong
The short version
- Continued organic growth expected: 3% in R&D Solutions (R&DS) and 5% in Commercial Solutions, with overall enterprise growth around 4%. - Full-year 2026 revenue guidance reaffirmed at $17.15B to $17.35B, implying 5.2%-6.4% growth (5.8% midpoint). - Adjusted EBITDA guidance reaffirmed between $3.975B and $4.025B, with 4.9%-6.3% growth (5.6% midpoint). - Adjusted diluted EPS guidance raised to $12.65-$12.95, up 6.1%-8.6%, or 7.4% at midpoint. - Q2 2026 expected revenue between $4.28B and $4.34B, 6.5%-8.0% growth. - Q2 adjusted EBITDA expected at $955M-$975M, 4.9%-7.1% growth. - Q2 adjusted diluted EPS expected at $2.98-$3.08, 6.0%-9.6% growth. - FX tailwinds and acquisition effects factored into guidance. - Confidence in margin improvement due to productivity programs despite near-term mix/headwinds. - Organic growth: approx.
From IQVIA Holdings Inc.'s Q2 FY26 earnings-call transcript · updated 29 May 2026.
Revenue & Sales Performance
- Continued organic growth expected: 3% in R&D Solutions (R&DS) and 5% in Commercial Solutions, with overall enterprise growth around 4%.
- Revenue guidance for full year 2026: $17.15 - $17.35 billion, implying 5.2% to 6.4% growth, 5.8% at midpoint.
- Second quarter 2026 revenue projected between $4.28 - $4.34 billion, representing 6.5% to 8.0% growth year-over-year.
- Strong pipeline with record backlog of $34.2 billion in R&DS and significant next 12-month revenue conversion ($8.9 billion, up high single digits).
- AI integration is a growth driver, expanding client adoption with 192 deployed AI agents covering 64 use cases, boosting efficiencies and enabling new offerings.
- Commercial Solutions growth fueled by increased drug launches and innovation in AI-enabled analytics and consulting services.
2 more points from IQVIA Holdings Inc.'s call on revenue
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Profitability & Margins
See what IQVIA Holdings Inc. said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- First quarter capital expenditures were $127 million.
- Free cash flow was strong at $491 million, representing 100% of adjusted net income, up 15% year-over-year.
- The company is heavily investing strategically in AI capabilities across Commercial Solutions and R&D, deploying over 190 AI agents covering 50+ use cases.
2 more points from IQVIA Holdings Inc.'s call on capex
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Fundraising & Capital Structure
See what IQVIA Holdings Inc. said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Q1 2026 R&D Solutions net new bookings: $2.5 billion (double-digit YoY increase).
- R&D Solutions backlog as of March 31, 2026: $34.2 billion (mid-single-digit YoY increase).
- Next 12-month revenue from backlog: $8.9 billion (high single-digit YoY growth).
- Book-to-bill ratio in Q1: 1.04 (despite unusually low pass-through bookings).
- Qualified pipeline grew mid-single digits YoY; RFP flow grew high single digits YoY.
- Commercial Solutions bookings strong, with AI-enabled offerings driving pipeline growth.
2 more points from IQVIA Holdings Inc.'s call on order book
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Continue your research
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Potential multibaggers · Q2 FY27
This quarter's potential multibaggers
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were IQVIA Holdings Inc. Q2 FY26 results?
- Continued organic growth expected: 3% in R&D Solutions (R&DS) and 5% in Commercial Solutions, with overall enterprise growth around 4%. - Full-year 2026 revenue guidance reaffirmed at $17.15B to $17.35B, implying 5.2%-6.4% growth (5.8% midpoint). - Adjusted EBITDA guidance reaffirmed between $3.975B and $4.025B, with 4.9%-6.3% growth (5.6% midpoint). - Adjusted diluted EPS guidance raised to $12.65-$12.95, up 6.1%-8.6%, or 7.4% at midpoint. - Q2 2026 expected revenue between $4.28B and $4.34B, 6.5%-8.0% growth. - Q2 adjusted EBITDA expected at $955M-$975M, 4.9%-7.1% growth. - Q2 adjusted diluted EPS expected at $2.98-$3.08, 6.0%-9.6% growth. - FX tailwinds and acquisition effects factored into guidance. - Confidence in margin improvement due to productivity programs despite near-term mix/headwinds. - Organic growth: approx.
What is IQVIA Holdings Inc. share price analysis?
IQVIA Holdings Inc. currently shows a neutral. The stock trades at a P/E of 20.1 with a market cap of $30,224. Investors should review the full earnings analysis for detailed insights.
Is IQVIA Holdings Inc. planning capital expenditure?
- First quarter capital expenditures were $127 million.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.